Technical operating rules for partnership

[jasong]

I will be splitting out shares of my M20J sometime in the next month or so to two other gentlemen and we're in the process of doing all kinds of research and thinking.

I'd like to hear thoughts on operating procedures for the plane that you think we should consider.  Of course everyone has their own method of flying but we would like to define some basics such as "all members should run x degrees ROP" or "all members should ensure cylinder head temps rise between only x and y amount in z time during a descent".  Outside of those two examples, what else should we be considering?

We don't want to micromanage but I think its a good idea if we take some general best practices/operating procedures and spell them out so at least we're all running the plane in the same basic fashion.

Jason

[74657]

Just a random thought, but my EDM 830 has datalogging capabilities.  All you need to do is insert your thumbdrive and all of the data is there.  Something like that will keep everyone honest.

I'm not in a partnership but I let one of my good friends fly my plane whenever he wants.  He is also my mechanic.  We agreed to certain operating procedures.  Neither of us worry about spending an extra 10-15 bucks an hour and haven't had formal LOP training so we agree to run ROP and keep the CHT's under 400 on climbout and EGT's less than 1400 at cruise.  My situation is a bit different because I cover all of the fixed costs.  It all works out in the end.  My plane stays in a nice heated hangar and is cared for as good as my children.  Did I mention that my buddy also paints planes for a living?  Another perk.....

One thing that I can think of that should be obvious is that the plane should always be returned with FULL FUEL. 

If I were to ever sell shares in my plane (which I can't ever see myself doing) I would have a hard time paying back an "hourly rate" after I used the plane.  I figure that if 3 people own the plane, split everything 3 ways except for oil and fuel.  If someone complains that they aren't using the plane as much as the other guy perhaps they should consider flying more.....

I would think ahead and put down in writing your contingency plan for what to do if/when it comes time for the high ticket expenditures such as engine overhaul.  No matter how late the time comes it is always to soon from a financial standpoint.