Private Party Rental

[Lando]

Anyone have advice regarding renting from a private party? I’m at a point where I want to step up from a Warrior to something faster, but I’m not quite ready to buy. There are no options around here for flight school/FBO rentals of anything decently IFR equipped and faster than my club Warrior so I’m hoping to find someone that doesn’t fly their plane enough and would be willing to set up some sort of rental agreement with me. I’m sure insurance and maintenance could be a pain for a single owner who doesn’t rent normally...is this type of arrangement more hassle than it’s worth for an owner?

 

[denverpilot]

Depends on the owner’s schedule and cash flow, really.

Owner with funds who isn’t strapped to operate their aircraft, could be a lot of work for a high risk. (They have full skin in the game since they own the thing you could break. You could alleviate this by having appropriate insurance and they get to confirm you carry and continue to carry it. Their insurance will not cover jack squat in many cases if they rent to you.)

Also depends on how often they fly and how much they want the aircraft available, but that’s probably less of a problem than most might think. Especially if you can fly when they’re working.

Also have to figure out what rate and how extra maintenance will get accomplished, etc.

But all you can do, is ask.

 

[paflyer]

When does a “private rental” rise to the level of additional Overlord scrutiny?

 

[Ravioli]

Look around for people wanting to "dry lease" or "block lease" a plane you would like.

Typically insurance turns into the biggest question. Sometimes they'll want you to pay the FULL bill on the insurance and have them as the loss payee and named pilot. Sometimes they'll just want you to be a named pilot on THEIR policy and pay for any premium increase caused by your experience level.

Also, maintenance items should be discussed in detail. Routine stuff is (included/excluded). If something fails while you're operating does that come back to you?

It's a good way to go, but you have to like the person. It's not likely to be as 'arm-length' as dealing with the rental guys.

 

[Let'sgoflying!]

If you can find the right plane, the right guy; it can be a sweetheart of a deal.
Decades ago I knew an older gent who just liked the idea of letting a young'un having access to an airplane, (and maybe it helped him a tiny bit by keeping his airplane active).
We never even discussed insurance back in those days.
And the airplane never broke either which helped.
He trusted me to keep my time and pay him, there was no Hobbs.

 

[DFH65]

Have the guy add you to his insurance, pay the difference and then pay cash for whatever hourly reimbursement he thinks is appropriate. Think of it like a friend letting you use his plane and you paying for reimbursement to cover his cost. I would think that is a far better less costly arrangement than a "rental."