Im moving back out to Colorado right now and am looking to rent out my plane to other PPs. How much are older 182s renting for these days? I have a 1962, IFR certified (/G), 3 blade prop. Better to do a wet rate or dry rate? I need the plane to fly more than I can afford to fly right now. I've had quite a few mechanical issues I have had to deal with this year and really could use a little income to pay those bills and keep it in the air.

The plane will be rented out in the Boulder area?

lc

Yes, located in Boulder or BJC

The flying club I am president of (what was I thinking?) has two C-182's, a 1977 Q model and a 1998 S model, and an 1980 R-182. They all rent in the $140/Hr. range wet. The Q model is Continental powered and burns up cylinders like crap through a goose in a 50 member club environment, the others are Lycoming powered and are far more resilient to abuse. We have a number of mechanics and an IA on staff so we are able to save a lot on maintenance, keeping our costs lower than average.
If you rent out an aircraft wet, people will be motivated to run it harder than if they were paying for the gas separately, especially at today's prices. If you don't like replacing cylinders, rent it dry.
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Rick

I have emailed a friend in the area this link/thread. He has trouble scheduling with the outfit he rents from. Too many students and not enough planes. He is in the Littleton area. If he is interested I will be happy to PM phone numbers.

Best of luck on the move and the rental plan.....
lc

Sounds good. Thanks a lot. I'm actually living in Westminster right now so I am thinking about basing it at metro Kbjc. Close to Littleton and Westminster.

Do you have insurance? Can you afford insurance on a rental? More to the point, can you NOT afford to insure a rental?

As noted, if you think you've got some mechanical issues now, wait till non owners get their hands on the thing.

Also, if you're renting, how will you schedule, maintain, track billing, collect, etc, etc? Lots to consider there.

If I were thinking about this route, I'd try to find a VERY limited number of renters I could invite into an exclusive rental agreement, so I could keep pretty careful control of renters. And, a THOROUGH checkout by a reliable CFI prior to any rentals. I've seen waaaaay too many CFIs who'll do a "checkout" for someone on a rental with a half hour of dual, no ground quizzing, etc. I'd want a VERY thorough checkout, and make certain the CFI doing the checkouts is absolutely willing to reject applicants for cause.

MTV

the club i belong to has a '77Q - they rent it out for $89/hour dry.

garth

In a small selective renter group/club/partnership is there much of an advantage to charging by tach time over Hobbs?
Some people say the engine is likely to be treated a little kinder with tach time charging/billing.
Is there consensus on this? Real or not?

Not an intentional attempt to hijack the thread. I think this relates to setting up the rental where everyone is treated fairly. I know, you do your best to weed out the NMFE people, but beyond that and setting the rates 'dry', what do you do?

lc

rick wrote:If you don't like replacing cylinders, rent it dry.

I'd claim the opposite is more likely. You'll get folks leaning out to brag about 10 gph...and you might end up paying to have jugs yanked off.

Ington5,

I feel your pain. But, '62 (small elevator) + 3 blade x renters = bent firewall = total loss. That's one way to get out of the plane, if you can find insurance for not too much, but I really liked my '62 and couldn'tt subject it to that fate, myself.

CAVU