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What is a Rackominium?


Rackominiums are individually owned deeded fee simple real estate rack storage (condos) for your boat. They are the easiest way to handle motor cruisers less than 41' and 24,000 pounds. They can be open air racks, covered, three-sided buildings or completely enclosed and climate controlled. Special crane systems, lifts and forklifts are lifts are used to safely haul & store or lift and launch your boat as often as you wish to use it. Whether it is once every couple of weeks to several times a day, these facilities provide you the same access to the water as a wet slip
but provide equal or better protection than if you had your very own boat lift.

The concept is much the same as a condominium except that it is a home for your boat and based upon the land that the rack sits on and the structure itself (like a condo). These slips and racks are located in highly landscaped, well-lighted and gated marinas, each with a complete amenity package.


What is a Dockominium?


Dockominiums are individually owned wet slips for sailboats and cruisers. They can be found for any size boat or vessel and can be constructed as a simple fixed pier to luxury indoor, climate controlled, high security facilities with many amenities.

The concept is much the same as a condominium except that it is a home for your boat and based upon a deeded title to the basin bottom and in some instances may be based upon a basin bottom that is leased from the government or a municipality. These slips and racks are located in highly landscaped, well-lighted and gated marinas, each with a complete amenity package


What form of ownership is available? FEE SIMPLE

Ownership of deep-water dockage is in fee simple title with a warranty deed framing ownership of the submerged land and air rights associated with the slip forever. Similar to owning a condominium, all aspects of common and limited common elements are detailed in the association documents provided prior to purchase.

What slip lengths are available and what are the costs?

There are dockominiums (wet slips) available for virtually any size boat, yacht or vessel up to about 250 feet. The larger they are however, the more difficult they are to find. Dry stack rackominiums can be purchased for vessels up to approximately forty-eight feet in some facilities and can be purchased relatively inexpensively. Although this is true in the current market conditions, we predict that Dry Rack spaces will at some point in the not too distant future reach or even surpass wet slip prices as the Dry Racks offer far superior benefits. Dry Racks provide greater protection and will contribute to a longer life, lower the required finish maintenance, increase resale values and may someday potentially lower insurance rates for boats stored in such facilities.

Depending on the geographic location and type of marina development, dockominiums can range widely in price from as low as one thousand dollars per linear foot to as much or more than fifty thousand dollars per linear foot for luxury indoor climate controlled wet slips.

Rackominiums (dry racks) also range in price but not quite as drastically as dockominiums. They start as low as fivehundred per linear foot to three thousand per linear foot. These amounts are not intended to reflect specific pricing, but rather to show the range in values.

Why should I consider purchasing a slip or rack instead of leasing?

Why consider purchasing a rackominium now? Although ownership of permanent yacht slips, berths and moorings may appear to you like a relatively new concept, knowledgeable yacht owners and real estate investors the world over continue to seek and purchase prime yacht dockage for their vessels and income opportunities.

Dockominiums are available for purchase in many of the world's major ocean, lake and river accessible communities. The number of new rackominiums available for purchase, especially in the coastal regions of the United States, continues to decrease as demand continues to grow. They have soared in popularity more recently because of a number of factors.

Yachting continues to expand world wide as more owners are entering the market. Larger and more costly vessels are being constructed every day, thus placing pressure on an already oversubscribed and limited rental marketplace. Small, formerly independent marinas are being purchased by large international companies and developed for their maximum utility. High priced resorts and condominiums are ousting the recreational boater.

In addition, there are stringent environmental, regulatory and land use restrictions reducing the available supply of marinas at large. As the number of high quality, deep water wet slips decreases, their value continues to grow. Recent moratoriums on new marina construction and dock permitting have influenced some rackominium owners and investors to purchase additional available slips simply for the investment value that they represent.

Yes, you can still choose to lease, but why would you want to?

 



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No warranty or representation, express or implied, is made as to the accuracy of the information contained herein and same is submitted subject to errors, omissions, change of price, rental or other conditions, or withdrawal without notice. Prices, plans, products and availability are subject to change without notice. Illustrations are artist’s depictions only and may differ from completed improvements, and scenes may include locations or activities not on the property. This is not an offer to sell or a solicitation of an offer to buy real estate in any country or state where prohibited by law.