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RV10 cost per hour

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amekler

Joined: 07 Oct 2010
Posts: 164

Posted: Thu May 17, 2018 4:36 am Post subject: RV10 cost per hour

Guys,

A friend wants to rent my rv10

What do you think a cost per hour is reasonable ?

Dry vs wet

Regards,

Alan

Ps

He is already on my insurance /cf I/

ATP



Sent from my iPhone

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cooprv7(at)yahoo.com
Guest

Posted: Thu May 17, 2018 6:15 am Post subject: RV10 cost per hour

Alan,

    This is a delicate topic since we cannot use the airplanes for hire which includes both charging someone more than expenses for a flight or renting the airplane. Others will weigh in, but at most it seems you could charge an easily justifiable rate that would only cover reasonable expenses. 



If he’s already on the insurance and this is something you want to make available to him long term, you might want to consider bringing him on as a partner to alleviate all of the other issues. 



I’m curious how this turns out for you as I also know someone who has wanted to buy into my airplane but I’ve held off for a few reasons. Hopefully someone will offer another solution. 



Marcus 



 	  Quote: 	
		   On May 17, 2018, at 8:33 AM, Alan Mekler MD <amekler(at)metrocast.net> wrote:

 

 

 

 

 Guys,

 A friend wants to rent my rv10

 What do you think a cost per hour is reasonable ?

 Dry vs wet

 Regards,

 Alan

 Ps

 He is already on my insurance /cf I/

 ATP

 

 Sent from my iPhone

- The Matronics RV10-List Email Forum -

Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

http://www.matronics.com/Navigator?RV10-List

amekler

Joined: 07 Oct 2010
Posts: 164

Posted: Thu May 17, 2018 6:48 am Post subject: RV10 cost per hour

Yes

I just want to cover expenses

Alan

Sent from my iPhone

 	  Quote: 	
		   On May 17, 2018, at 10:12 AM, Marcus Cooper <cooprv7(at)yahoo.com> wrote:

 Alan,

    This is a delicate topic since we cannot use the airplanes for hire which includes both charging someone more than expenses for a flight or renting the airplane. Others will weigh in, but at most it seems you could charge an easily justifiable rate that would only cover reasonable expenses. 

 If he’s already on the insurance and this is something you want to make available to him long term, you might want to consider bringing him on as a partner to alleviate all of the other issues. 

 I’m curious how this turns out for you as I also know someone who has wanted to buy into my airplane but I’ve held off for a few reasons. Hopefully someone will offer another solution. 

 Marcus 

> On May 17, 2018, at 8:33 AM, Alan Mekler MD <amekler(at)metrocast.net> wrote:

> 

> 

> 

> 

> Guys,

> A friend wants to rent my rv10

> What do you think a cost per hour is reasonable ?

> Dry vs wet

> Regards,

> Alan

> Ps

> He is already on my insurance /cf I/

> ATP

> 

> Sent from my iPhone

> 

> 

>

- The Matronics RV10-List Email Forum -

Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

http://www.matronics.com/Navigator?RV10-List

cooprv7(at)yahoo.com
Guest

Posted: Thu May 17, 2018 7:29 am Post subject: RV10 cost per hour

I would recommend taking all of your expenses annually: insurance, hangar, oil, maintenance, etc, and divide by annual hours flown. I wouldn’t think anyone could fault that logic.  It would be difficult to rely on anyone else’s numbers as there are too many personal variables. 



Marcus. 



 	  Quote: 	
		   On May 17, 2018, at 10:45 AM, Alan Mekler MD <amekler(at)metrocast.net> wrote:

 

 

 

 Yes

 I just want to cover expenses

 Alan

 

 Sent from my iPhone

 

> On May 17, 2018, at 10:12 AM, Marcus Cooper <cooprv7(at)yahoo.com> wrote:

> 

> 

> 

> Alan,

>   This is a delicate topic since we cannot use the airplanes for hire which includes both charging someone more than expenses for a flight or renting the airplane. Others will weigh in, but at most it seems you could charge an easily justifiable rate that would only cover reasonable expenses. 

> 

> If he’s already on the insurance and this is something you want to make available to him long term, you might want to consider bringing him on as a partner to alleviate all of the other issues. 

> 

> I’m curious how this turns out for you as I also know someone who has wanted to buy into my airplane but I’ve held off for a few reasons. Hopefully someone will offer another solution. 

> 

> Marcus 

> 

>> On May 17, 2018, at 8:33 AM, Alan Mekler MD <amekler(at)metrocast.net> wrote:

>> 

>> 

>> 

>> 

>> Guys,

>> A friend wants to rent my rv10

>> What do you think a cost per hour is reasonable ?

>> Dry vs wet

>> Regards,

>> Alan

>> Ps

>> He is already on my insurance /cf I/

>> ATP

>> 

>> Sent from my iPhone

>> 

>> 

>> 

> 

> 

> 

> 

>

- The Matronics RV10-List Email Forum -

Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

http://www.matronics.com/Navigator?RV10-List

Tim Olson

Joined: 25 Jan 2007
Posts: 2878

Posted: Thu May 17, 2018 10:05 am Post subject: RV10 cost per hour

Personally, I would take it a step further.

It would be VERY easy to run afoul with the FAA and have a very

bad experience, in renting him the plane.   I would tell him he

needs to give you $5000 to get an ownership stake in the airplane,

and have him sign something that you prepare that gives him

a small percentage of ownership in it.   At least then you have

some written proof and a copy of the bank deposit to show that

he is indeed part owner.  There is still the issue that with

the FAA and registration you would not have him listed as an

owner, but you would at least have SOME paper trail.   The real

way to do it I think, but I do not have any knowledge of the

process, is to create an LLC to be the owner and then sell the

shares to the partners.  Once you are partners in the plane,

expense sharing won't cause any issues.

Tim



On 05/17/2018 10:26 AM, Marcus Cooper wrote:

 	  Quote: 	
		   

 

 I would recommend taking all of your expenses annually: insurance, hangar, oil, maintenance, etc, and divide by annual hours flown. I wouldn’t think anyone could fault that logic.  It would be difficult to rely on anyone else’s numbers as there are too many personal variables.

 

 Marcus.

 

> On May 17, 2018, at 10:45 AM, Alan Mekler MD <amekler(at)metrocast.net> wrote:

>

> 

>

> Yes

> I just want to cover expenses

> Alan

>

> Sent from my iPhone

>

>> On May 17, 2018, at 10:12 AM, Marcus Cooper <cooprv7(at)yahoo.com> wrote:

>>

>> 

>>

>> Alan,

>>    This is a delicate topic since we cannot use the airplanes for hire which includes both charging someone more than expenses for a flight or renting the airplane. Others will weigh in, but at most it seems you could charge an easily justifiable rate that would only cover reasonable expenses.

>>

>> If he’s already on the insurance and this is something you want to make available to him long term, you might want to consider bringing him on as a partner to alleviate all of the other issues.

>>

>> I’m curious how this turns out for you as I also know someone who has wanted to buy into my airplane but I’ve held off for a few reasons. Hopefully someone will offer another solution.

>>

>> Marcus

>>

>>> On May 17, 2018, at 8:33 AM, Alan Mekler MD <amekler(at)metrocast.net> wrote:

>>>

>>> 

>>>

>>>

>>> Guys,

>>> A friend wants to rent my rv10

>>> What do you think a cost per hour is reasonable ?

>>> Dry vs wet

>>> Regards,

>>> Alan

>>> Ps

>>> He is already on my insurance /cf I/

>>> ATP

>>>

>>> Sent from my iPhone

>>>

>>>

>>>

- The Matronics RV10-List Email Forum -

Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

http://www.matronics.com/Navigator?RV10-List

amekler

Joined: 07 Oct 2010
Posts: 164

Posted: Thu May 17, 2018 10:45 am Post subject: RV10 cost per hour

Tim,

Thanks for the advice

Will tell me I can’t rent it

Alan



Sent from my iPhone



 	  Quote: 	
		   On May 17, 2018, at 2:02 PM, Tim Olson <Tim(at)MyRV10.com> wrote:

 

 

 

 Personally, I would take it a step further.

 It would be VERY easy to run afoul with the FAA and have a very

 bad experience, in renting him the plane.   I would tell him he

 needs to give you $5000 to get an ownership stake in the airplane,

 and have him sign something that you prepare that gives him

 a small percentage of ownership in it.   At least then you have

 some written proof and a copy of the bank deposit to show that

 he is indeed part owner.  There is still the issue that with

 the FAA and registration you would not have him listed as an

 owner, but you would at least have SOME paper trail.   The real

 way to do it I think, but I do not have any knowledge of the

 process, is to create an LLC to be the owner and then sell the

 shares to the partners.  Once you are partners in the plane,

 expense sharing won't cause any issues.

 Tim

 

 

 

> On 05/17/2018 10:26 AM, Marcus Cooper wrote:

> 

> I would recommend taking all of your expenses annually: insurance, hangar, oil, maintenance, etc, and divide by annual hours flown. I wouldn’t think anyone could fault that logic.  It would be difficult to rely on anyone else’s numbers as there are too many personal variables.

> Marcus.

>> On May 17, 2018, at 10:45 AM, Alan Mekler MD <amekler(at)metrocast.net> wrote:

>> 

>> 

>> 

>> Yes

>> I just want to cover expenses

>> Alan

>> 

>> Sent from my iPhone

>> 

>>> On May 17, 2018, at 10:12 AM, Marcus Cooper <cooprv7(at)yahoo.com> wrote:

>>> 

>>> 

>>> 

>>> Alan,

>>>   This is a delicate topic since we cannot use the airplanes for hire which includes both charging someone more than expenses for a flight or renting the airplane. Others will weigh in, but at most it seems you could charge an easily justifiable rate that would only cover reasonable expenses.

>>> 

>>> If he’s already on the insurance and this is something you want to make available to him long term, you might want to consider bringing him on as a partner to alleviate all of the other issues.

>>> 

>>> I’m curious how this turns out for you as I also know someone who has wanted to buy into my airplane but I’ve held off for a few reasons. Hopefully someone will offer another solution.

>>> 

>>> Marcus

>>> 

>>>> On May 17, 2018, at 8:33 AM, Alan Mekler MD <amekler(at)metrocast.net> wrote:

>>>> 

>>>> 

>>>> 

>>>> 

>>>> Guys,

>>>> A friend wants to rent my rv10

>>>> What do you think a cost per hour is reasonable ?

>>>> Dry vs wet

>>>> Regards,

>>>> Alan

>>>> Ps

>>>> He is already on my insurance /cf I/

>>>> ATP

>>>> 

>>>> Sent from my iPhone

>>>> 

>>>> 

>>>>

- The Matronics RV10-List Email Forum -

Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

http://www.matronics.com/Navigator?RV10-List

Bob Turner

Joined: 03 Jan 2009
Posts: 885
Location: Castro Valley, CA

Posted: Thu May 17, 2018 11:27 am Post subject: Re: RV10 cost per hour

Tim is right on here. An EAB airplane may not be used for compensation or hire. It doesn’t say “profit”; you may not receive anything from others for the use of your airplane.

- The Matronics RV10-List Email Forum -

Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

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_________________
Bob Turner
RV-10 QB

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