Frequently Asked Questions:
Q: How does shared ownership work?
A: Our customers choose any prime week (3rd week of May to 1st week of Oct.) they would like to have each year. A one time buy-in cost is paid and you are guaranteed that same week on that boat every year. In addition to the week that you own, you have access to an “off-season” days as well. Off-season weeks are booked on a first-come/first-serve basis with the Manager of your boat. You are purchasing stock in a corporation or LLC which entitles you to use the boat during your designated time each year and gives you voting rights in the corporation.
Q: What is my actual annual out-of-pocket cost?
A: Your share has an equity value that will depreciate at a rate of approximately 5-6% per year, so if you purchase a share for $25,000 and want to sell it three years later, it still has a value of approximately $20,000. Sunrise Peak will help you sell the share whether you are moving to a new boat or just need to sell it for whatever reason as long as our resale policy allows. Your annual cost to use the boat would look like this:
Depreciation on your share: 5-6%, let’s say $2,000
Annual Maintenance Fee: $1500 (average annual fee)
Launch & Retrieve Fee: $750 @ Antelope Point, $1500 @ OffShore Marina
Total Annual Cost: $4,250 – $5,000 plus fuel
Coampare that cost with a rental boat that typically costs $8,000 to 13,000 + and does not have nearly the features and amenities of a Sunrise Peak houseboat.
Q: What makes Sunrise Peak different from the competition?
A: Sunrise Peak has over 23 years of experience and has placed over 120 luxury houseboats boats on Lake Powell. All of those boats are still being used on the lake. Our program provides the best houseboats and premium services for the lowest cost. We provide houseboats built by the premiere builder (Bravada Yachts) in the industry and trust the top maintenance companies available on both ends of the lake (OffShore Marina & Antelope Point Marina) to insure that your trip is trouble free.
Q: How much does it cost to buy in?
A: It varies. We have shares starting as low as $10K up to $100K. The price of a share is based on the age of the boat, length of the trip, size of houseboat and the time of year that you like to vacation. The average price of a share on a 2-3 year old boat during the peak season would be $30-$40K.
Q: How do I reserve a week?
A: A $1,000 deposit, taken on a credit card, will reserve a share. This deposit is refundable for 10 days, during which time you will receive all the paperwork and information you need to complete your purchase.
Q: How much time do I have to review the information/contracts?
A: After paying the $1,000 deposit, you have 10 days to get comfortable with the purchase agreements. If, within the 10 days, you change your mind for any reason, or no reason at all, we’ll refund your full deposit.
Q: When is the rest of my money due?
A: 50% of your remaining balance is due after the 10 day deposit period. The remaining balance is due 20 days later. The entire purchase takes 30 days to complete.
Q: Do we rent houseboats?
A: NO. The concessionaires (Aramark/Antelope Point) are the only entities that are legally authorized to rent boats on Lake Powell. Any other rentals will be impounded by the National Park Service. This is one of the reasons shared ownership is so appealing.
Q: How is the boat organized?
A: Each boat is set up as it’s own Limited Liability Corporation (LLC). That corporation holds the title to the houseboat free & clear. Each new owner is issued a membership unit in the corporation to represent their ownership. An annual meeting is held at least once a year to allow owners to review finances of the corporation, vote on resolutions and elect officers.
Q: Can I expect to make money on my investment in a membership unit?
A: No, there should be no expectation of a profit on your membership unit. Your share will depreciate at a rate of approximately 5-6% per year.
Q: When can I use the houseboat? Do I have set weeks? Off season weeks?
A: The prime time period you purchase is a set block of time that you can plan on every year. With that prime time period you’re guaranteed access to off-season days, booked first-come, first-serve each year.
Q: When can I book off-season weeks?
A: For a new boat, your off-season dates can be booked at the time of purchase for your share. For subsequent years the scheduling opens each December 1st for the next season.
Q: Is this a timeshare?
A: NO. It is different from the typical timeshare in that you own a percentage of one specific houseboat and use the same boat each year. Another difference is that a timeshare can be rented or lent out, your use of your time on the houseboat cannot. Timeshares are not allowed on Lake Powell.
Q: Who takes care of the boats?
A: We use independent service companies at Lake Powell to service the houseboats. They orient the new owners, check owners on and off the houseboats, perform routine maintenance and repairs, etc. OffShore Marina is our service provider at Bullfrog and Antelope Point is our provider on the South end of the lake.
Q: Which lakes/marinas do we service? Where’s Lake Powell?
A: Currently, we only serve Lake Powell. We have boats at Antelope Point and Bullfrog Marinas. Lake Powell is located on the Utah/Arizona border, about 90% of the lake is in Utah and about 10% is in Arizona.
Q: What kind of houseboats do we sell?
A: All of our boats up to and including our 2005 models areStardust Cruisers. Our 2006-2009 boats are manufactured by Sumerset Houseboats. Starting in 2010 and up through the 2013 season, we are proud to offer Bravada Yachts houseboats. Each of our boats is custom made specifically for use on Lake Powell and for shared ownership. They are fully equipped with all the comforts of home. Over the years, we have carefully refined the engineering of the boats to precisely reflect the unique needs and wants of Sunrise Peak owners.
Q: Other than the cost of my membership unit, what are my other annual costs?
A: There are two annual costs related to the use of your houseboat, your annual maintenance fee ($1500 on average) and the launch & retrieve fee paid directly to the boat management company at Antelope Point or Bullfrog ($750 – $1265 @ Antelope Point / $1500 @ OffShore Marina).
Q: What services are covered by the annual maintenance fee and the launch & retrieve fee? Are there any other costs to be aware of?
A: The annual maintenance fee ($1500 on average) pays for things like storage, insurance, license, management, maintenance, etc. The L&R pays for your launch & retrieval as well as a full hotel-quality cleaning, holding tank pump out, fuel and water fill service, propane fill and weekly maintenance checks. The local maintenance companies can also provide additional services like pilot training, boat orientation, additional ice & water, firewood, etc. Your only other cost is fuel for the houseboat and your personal watercraft.
Q: Can I rent/loan my week to a friend/relative?
A: NO. A legal, insured owner must be on board any time the boat leaves the marina.
Q: What happens if the owner before me trashes/wrecks the boat?
A: The maintenance crew normally has enough time between owners to make most necessary repairs. Any damage caused by an owner will be billed to that owner and normal wear & tear maintenance will be paid for by the maintenance fund. If an owner continually abuses the houseboat, the boat manager will take action to protect the other owners in the corporation.
Q: What if the boat sinks or is too severely damaged for my trip?
A: There is a small amount of risk that goes along with this purchase. In over 15 years we have never had one of our boats sink. Every once in awhile some unusual damage may occur with a boat, but we are usually able to make repairs in time for the next owner. If the boat is disabled, Sunrise Peak will make every reasonable effort to find an alternative arrangement for your trip.
Q: How many people will the boat sleep? How many people can I have on board?
A: There is sleeping for 10 adults or children in beds inside (refer to floor plan for each boat under the Available Shares button) with 8-12 additional mattresses on the top deck. There is no legal limit to the boat’s capacity, however the National Park Service requires a life jacket on board for each person. The boats are designed to comfortably accommodate about 18, although your individual comfort level may allow more or require less.
Q: Is the boat insured? How much coverage?
A: Yes. Full replacement value of the houseboat and $1,000,000 liability coverage with a deductible determined by the value of the boat.
Q: Can I smoke or have pets on board?
A: No pets are allowed inside the cabin (they may be permitted on the outside decks) and smoking is strictly prohibited in the cabin, on the rear deck or near any fuel tanks.
Q: What is included with the boat? What do I need to bring with me?
A: It is stocked with all basic kitchen utensils and appliances, all deck furniture, BBQ, chest freezer as well as all the ropes, anchors, etc. You will need to bring your own bedding, towels and soap (although some L&R partners provide linen service). Upon the purchase of a share you will receive a ‘Help Manual’ that has a detailed list of everything stocked on the boat and some suggested items for you to bring.
Q: Does the boat have Air Conditioning/Heating?
A: Yes. Every boat has a 3-5 ton central air and heat unit……more than enough cooling/heating for the area in each boat.
Q: How do you anchor/beach the boat?
A: You softly nudge the nose of the houseboat onto the sand at a 90* angle, then run 2 anchor lines off each side at about a 45* angle and 2 anchor lines off the nose of the boat to keep the front stable. The six anchors should be completely buried on the beach for maximum stability. Refer to the ‘Help Manual’ for more details.
Q: Can I drive from on top? What is a flying bridge?
A: Yes. The boat is equipped with a fully-functional secondary helm which allows you to drive the boat from the top deck. Control of the helm and engines can shift easily from the captains position located inside the cabin to the top deck. The newer boats also include a “walk through” fly-bridge that allows passengers to sleep and travel on the front of the top deck.
Q: Does the fridge run off of propane?
A: No. All boats newer than 2002 have at least one and in most cases two electric 25 cubic foot side-by-side just like you may have at home. Starting in 2002, all electric refrigerators run off the inverter so you don’t have to run your generator all the time. Starting in 2011, our newest boats have over-sized refrigerator/freezer units.
Q: Does the houseboat have an inverter? What does it power?
A: Yes. It powers the refrigerator, TV’s, chest freezer, oven controls, certain banks of interior lights, bath fans, kitchen outlets and outside deck outlets.
Q: What is an inverter? How does it work?
A: An inverter converts the power produced by a bank of 12, 6-volt deep-cycle batteries into 110 power that will run household appliances and other accessories.
Q: How many wave-runners/jet skis can I put on top? How does the hoist work?
A: Boats that are 2005 and older have jet ski hoists to lift the PWC’s onto the top deck….there is no limit, but typically 2-3 jet skis is a good rule of thumb. Our 2006 models and newer no longer have a hoist/davit, it has been replaced with 2-4 jet-ski ramps, with individual winches, on the back deck.
Q: Will personal watercraft be allowed on Lake Powell this summer?
A: Yes, there are no major restrictions on PWC’s at Lake Powell.
Q: What engines does the boat have? How fast will it go?
A: The newer boats have twin 260 horsepower multi-port fuel injected V8 (5.0 liter) Mercruisers equipped with Bravo II outdrives and large 20 inch counter-rotating propellers. It will comfortably drive between 8-10 mph. To find the engines for any of our boats, go to the Available Shares button, select the boat, scroll down to the Amenities section and the engines for the boat are listed there.
Q: What size/kind of generator does it have?
A: 15 KW, 20KW or 22.5 CO-Safe Westerbeke on all 2004 and newer boats (check the amenities list for each boat). It provides plenty of power to run your AC, appliances, lights, and will easily recharge all batteries on board.
Q: What are the fuel, water & waste capacities? Will that last throughout my week?
A: The size of fuel tanks and waste holding tanks varies on almost every boat (check the amenities list for each boat). The water tank capacity also varies by boat, but starting in 2010, we upgraded to unlimited fresh water UV systems, those boats have no water tanks and no limit on fresh water. Under normal use this is plenty to get through a week. The amount of fuel you will use just depends on how far you’re going, how fast you want to get there, what you’re pulling behind the boat and how many ski boats and jet skis you have draining your toy tank.
Q: Can I trade weeks with another owner?
A: Yes. That is between you and the other owners on the boat, and it is okay as long as there is an insured owner of record of that boat on board.