A boat lease agreement has become a lucrative and popular option for renters looking to rent out their waterfront property.
Renters will pay around $10,000 for a year-long lease on a four-bedroom waterfront property, with an annual rental price of about $200,000, according to the Land Registry of New South Wales.
In the past year, property owners have been selling a total of 1,926 boats, which they lease out to potential renters.
Many of the leases, which are currently being sold on the national rental market, include a security clause.
The clause states that if you’re renting out the property to someone else, you must agree to not rent out the boat for a certain period of time.
Some of the biggest properties in NSW sell a minimum of 15 boats a year, while others sell only six.
But there is an opportunity for rental property owners to make a killing, with rental boats being a key part of property turnover in Sydney.
As property owners struggle to find renters for their boats, they have been looking to find a way to get in the rental game.
According to the NSW Land Registry, the number of properties in the national market that have rented out a minimum number of boats has more than doubled since 2013, from 1,000 to 3,500.
However, the rental market has seen a drop in activity in recent months.
Since the start of the year, rental property has been a much smaller part of the national property market.
While Sydney’s rental market is still booming, the numbers are down, and it is not clear how long rental boat leasing will remain in the city’s rental boom.
New South Wales Premier Gladys Berejiklian has previously said that she believes rental boat leases are one of the few ways to build trust with tenants.
“If people trust their renters, then they will buy their property,” she said.
Property agents, however, have been warning of a possible housing shortage and have warned that renting out boats is not an option for many renters.
“There’s a real risk that renters aren’t able to get into the rental boat market,” a property agent told The ABC.
Mr Williams said he was happy to rent a boat out and said he would look for renters who had a boat to share.
He said the lease was a good way to share a home and get some extra cash.
“We want to give people the best value out of the property,” he said.