I'm looking at buying an aircraft to put up for rental. Please could you help me answer a few questions. Please feel free to comment with any additional points. Thanks for taking the time to complete this survey.

Maintenance by someone trustworthy and with a good reputation.

+ Location, condition, how difficult or easy it is to deal with the rental people.

Not having FTU currency rules

I may not be the usual renter, but in my case, it would be nice to take the plane when I go to Canada, and keep it for a few days, and pay for daily fees, as well as flight hours.

Go for it, skidoo. I thought about the same thing, but I am away now, and can't do it. There is definitely a market for something better than the FTUs.
Go for a four seater, for the broader appeal. The expensive IFR stack is not needed, as renters will probably all fly VFR anyway. A check out, as well as night check out should be included.
The time is good to buy a plane now, as the prices are depressed, due to the high CDN dollar.
In addition, on-line booking is almost a must, in this day and age.
First thing you know, you will have a fleet!

Most important:

1) That I did the maintenance on it.
2) That I don't need a checkout to fly it.
3) That the most I have to pay is fuel and maintenance reserve.

Overnight and maintenance.
Also, am I allowed to land it on grass?
Any limits on where I can fly it?

All of the above are why I am in a partnership,
however, I rent a 172 occasionally.
LF

-Age doesn't matter but overall condition does
-Decent rate
-On line booking would be nice for both the renter and you, would save people fighting saying they had booked at the same time.
-The check out rules (ie having to have flown type within 30 days, some allow 60 if you over 200 hrs) Using there rules you could fly DAY all month, then decide to do a night flight 35 days after your last night and will require a checkout to do so.


Have a look at Borden flying club. They have a nice setup. You can book online, you can call ahead to the hanger, enter a code on the phone and it will turn on the heater. Not sure what a system like that would cost??

skidoo wrote:I'm looking at buying an aircraft to put up for rental. Please could you help me answer a few questions. Please feel free to comment with any additional points. Thanks for taking the time to complete this survey.

If I may ask, what is your goal with renting an airplane out?

If I may ask, what is your goal with renting an airplane out?

Shiny Side --- just an idea I was bouncing around to offset some of my ownership costs.

I would make the next step in your research the insurance costs, allowing "non-current" pilots to rent the plane may drive up the insurance rates as I'm fairly sure this is why the FTU's have the restrictions in place.

cdnpilot77 wrote:Not having FTU currency rules

My experience has been that it is often the case that the renter pilots that complain the most about the requirement to maintain currency are the ones most in need of it...

I also think that for many, if not the majority of renter pilots, the maxim "treat it like a rental" is the operating philosophy in use......

I personally would never rent out my own airplane and I do not think it is the best way to reduce operating costs as the extra wear and tear and increased maintainance cost make it hard to break even. IMO the most cost effective way to own an aircraft is a 4 person group in a simple fixed gear 4 place single. All fixed costs (ie tiedown, insurance maintainance etc) are split 4 ways but in practice availability will still be pretty good. Since everyone has an ownership stake, there is an incentive to look after the aircraft.

Big Pistons Forever wrote:

cdnpilot77 wrote:Not having FTU currency rules

My experience has been that it is often the case that the renter pilots that complain the most about the requirement to maintain currency are the ones most in need of it...

Was that a shot over the bow?

Shiny Side Up wrote:

skidoo wrote:I'm looking at buying an aircraft to put up for rental. Please could you help me answer a few questions. Please feel free to comment with any additional points. Thanks for taking the time to complete this survey.

If I may ask, what is your goal with renting an airplane out?

Shhh don't tell him, we were about to get a deal LOL

cdnpilot77 wrote:

Big Pistons Forever wrote:

cdnpilot77 wrote:Not having FTU currency rules

My experience has been that it is often the case that the renter pilots that complain the most about the requirement to maintain currency are the ones most in need of it...

Was that a shot over the bow?

No, it was a general statement of what I believe and was not aimed at yourself or any other particular poster.

Ok, just checkin...I can see how that might be the case for a casual renter with a ppl, but hopefully a professional pilot wouldn't cause this concern. I would definitly be very selective of who I checked out in the airplane though!

The color / noise it makes . If I can't pull the " look at me shit" I really am not interested ...

skidoo wrote:

If I may ask, what is your goal with renting an airplane out?

Shiny Side --- just an idea I was bouncing around to offset some of my ownership costs.

If that's the case, I wouldn't reccomend it. A partnership is a better idea. The troubles of renting aren't worth it unless you can do volume, and even then I debate on whether its worth while.

but hopefully a professional pilot wouldn't cause this concern.

Having done litterally hundreds of renter check outs with people ranging from fresh ppl holders to guys with enough type ratings to fill a book and tens of thousands of hours, I can tell you their credentials really mean nothing when it comes to how they are going to fly and treat a rental plane.

The problem with renting is there is not a heck of a lot of profit margin. The ONLY way FTUs are able to stay in business is instructor premiums. You pay $45/hr for an instructor and he gets $20, well the $25 keeps the lights on and what is left after that is what the owner gets to take home. Rentals really make virtually NO money, even less if a careless renter cooks an engine or breaks something. That is why you don't see Budget Plane Rentals on the field, just no money in it. Renting is offered as a convenience to trusted customers more than anything and guys working on ratings and what not that need the time.

You do see fractional ownership a lot so that if you are careless and ding the plane, cook an engine you get to pay for it. But these are non-profit private relationships to again vet potential customers.