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Boatbound Aims to Be the Airbnb of Boats

A boat rental company called Boatbound, which aims to be the water-based equivalent of home rental sites like Airbnb and VRBO, appears to be catching on.

Founded in 2013, the business provides boat owners a way to make money off a notoriously cash-draining investment, while allowing the rest of us a chance to enjoy being on the water without the responsibilities of boat ownership.

Markets where Boatbound is growing include coastal areas such as Florida, Los Angeles, and California's Orange County, where available rentals at Newport Beach have gone up from around 150 last year to about 350 in 2016.

You can use the service to rent boats for fishing, wakeboarding, water skiing, or cruising; some charters come with a captain to steer the ship. Prices range from around $400 for fishing boats to about $1,000 for a captained cruise.