The 175 I bought should be a useable plane real quick. I was always going to sell my 150, but I never have because I didn't want to be without a plane. I was thinking of renting out my 150 so I could keep it. Like a little flying club for the 150.

I talked to my insurance company and I can add two long term people to my policy. The insurance wants me to keep them on for at least six months and would like a year. The plane would have $20,000 full coverage and that would cost $800/yr for all three of us even if the others were students. I was thinking of charging $150/mo and 45/hr dry. Minimum 5 hrs per month.

What do you guys think? Is this a good or bad idea. Is that charging too much or too little? If any of you guys have been in a flying club can you give me some ideas and let me know if there is something I should watch out for? Thanks

Jerry

Got an FBO in the area you could lease it back to? Let them handle all the administration and insurance issues. Guess it depends on how much effort you want to put into it. Either way I imagine there would be accelerated wear on your plane and no one will manage your engine the way you will (as the guy who will eventually have to foot the overhaul bill), but probably a good way to offset your costs if you're set on keeping it. The insurance question is probably the trickiest part of the proposition.

Risk vs reward not worth it in my opinion. Better get all the liability insurance u can afford.

Have good liability ins. and have them purchase their own renters insurance. You might also show the renters how an elasticator works in case they are heavy handed in the care of your plane.

Do you know why there is so much free advise? It is all explained in Supply and Demand. The supply is so much greater than the demand is why there is so much free advise. Unless you ask a lawyer, then that is different.

What ...........

The biggest value may be that you can have the 150 as a for-profit aviation business and write off just about everything. That of course is a question for an accountant, but I know it can work out well in some cases.