Dry Lease / Rental Wanted: NJ/PA

[paulsalem]

Looking for an aircraft to rent / dry lease in the NJ/PA area. MMU/N40/SMQ/ABE/DYL etc.

ATP CFI, Professional pilot, 6,500 hours

 

[carusoam]

Sounds pretty open ended, Paul...

Are you looking for anything in particular?

Best regards,

-a-

[paulsalem]

I'm not too particular.  Just want to be able to take the airplane every now and again for family trips for a few days every now and again.  Maybe take my son up for 30 mins, a few times per month.

I had a similar arrangement with a gentleman in his PA-28-235 but it's now in pre-buy.  I helped him offset some fixed costs and paid hourly for use of the aircraft.  He wasn't able to fly it as much as it needed so it seemed to be a win-win situation.

We're looking at buying a house in the next 6ish months so I don't want to buy at this time.

[RobertGary1]

How does the insurance on that work? On my plane I can add pilots as named but I’m prohibited from renting it out without an additional $4,000/yr jn insurance. 
 

-Robert 

[paulsalem]

4 minutes ago, RobertGary1 said:

How does the insurance on that work? On my plane I can add pilots as named but I’m prohibited from renting it out without an additional $4,000/yr jn insurance. 
 

-Robert 

I was added as named insured on the policy. They didn't have a problem with it said it was more of a partnership as we were just sharing costs essentially. 

[thinwing]

subrogation issue Im afraid

[RobertGary1]

4 hours ago, thinwing said:

subrogation issue Im afraid

I’d be interested in what someone like Parker would put together for this. May be state specific too. In California there are restrictions on non owners benefiting on policies. 
 

-Robert 

[geoffb]

So you can let a named insured fly your plane and he's covered, but if have some sort of arrangement to pay something it becomes a rental and there's an insurance hit?

[midlifeflyer]

3 hours ago, geoffb said:

So you can let a named insured fly your plane and he's covered, but if have some sort of arrangement to pay something it becomes a rental and there's an insurance hit?

Depends on your policy. Some insurers permit a limited number of private rentals under the basic policy. I've been the beneficiary of that a few times.