Looking for updates on Marinas Slip Fee in Southern California? Learn more about the rising cost of the marina slip fees in Southern California and how boat owners are feeling the pinch…
Generally the marinas have a two-year waiting list for boats to get a place in the marina. However, most of them were being pushed out by the larger boats. But things have changed in recent times. According to the reports of the Los Angeles County, the applications for the marina boat slip have declined, and vacancies have grown more than 100% in the previous years.
Cost of Marinas Slip Fees in Southern California
The fees are calculated on a per foot basis with the allocations for an assigned slip or transient boats. This is further divided into catamarans and trimarans. There is also an additional amenities fee attached to the cost. The additional cost of live aboard persons is calculated on a per person basis with a minimum of two persons charged. In order to calculate the total amount of the fee, consider the length of the boat or the slip. The fee will be based on whichever is higher. The cost covers electric, water, and garbage service along with showers, laundry rooms and restrooms.
The general cost of marina slip fees in Southern California can be $312 on a monthly basis for boats that are 25-foot in length. However, a yacht that is 80 feet in length will cost more than $2000 on a monthly basis. This cost causes the problem and increases vacancies if there’s an economic downturn. However, in good times one would see a large number of boats docked on the marinas, which has resulted in an increase in the slip fees.
Scope of the Marinas in Southern California
The increase in the marina slip fees in Southern California can be attributed to two main factors. One is the general rising costs of providing the services due to inflation, while the other is the provision of better goods and services like insurance coverage and extra benefits of a workable live-in marina.
Most of the marinas in Southern California have been around since the 1970s but utilized for business purposes. The increase in the pleasure boat industry started after the 1970s and seen a rapid rise in the past three decades. Since the turn of the 21st century there has been an increased decline. This is due to the fact that the number of boat owners has not risen as sharply as estimated, and the marinas being constructed to accommodate the estimate are sitting empty.
Every marina faces around 5% to 10% of space in vacancies. These are mostly a result of economic problems. Furthermore, the increased supply of the different marinas has given both owners more options to choose from. Therefore, in these troubled times they are most likely to dock their watercraft and boat where marinas slip fees in Southern California are more affordable.
Estimations for Watercraft Sales
The sale of power boats have seen a rapid rise in the last decade however, the number of marinas available have still not become completely full with the number of sales being witnessed in the market. Traditionally, Southern California has always seen a lack in supply of the coastal marina slips. This mainly occurred due to the halt in construction since the 1970s due to the many environmental regulations. Approximate estimations showed that up to 20,000 boats would be added every year into the marinas, but that figure has not been matched up.
Everybody has seen a slump in the business over the last two decades, even though more than 2000 powerboats of more than 40 feet in length were registered in southern California in the years 1998 through 2005. Half of them were more than 50 feet in length.
Most of the Southland marinas are functioning profitably even though the slip fees are consistently increasing. Another popular yet expensive one is at Redondo Beach, which has seen a slump in business. However, the slips are continuously full even though no new boats are coming into the market. The largest marina in Southern California is the King Harbor Marina and offers 820 boat slips, along with having a continuous waiting list for the boats which are longer than 30 feet.