Leasing Privately Owned Aircraft

"Bartscher" wrote in message
...
In the long term, I'm planning on getting into a partnership on a single
engine
plane capable of carriyng 4 adults + luggage for a 500 mile trip. Before I
get
all the way into a partial ownership situation, I'd really like to spend
some
time flying some of the potential aircraft I'm interested in, to see if
they
really match what I'm looking for.

Since the short list of planes is: A-36 Bonanza, Cessna 210, and Piper
Saratoga; I'm not able to find them available for rental anywhere nearby
(very
few FBOs rent these anyway). I was thinking of trying to find a local
(Toledo,
OH; Detroit, MI, or Ann Arbor, MI) owner with an under-utilized plane, who
is
willing to lease time on their plane for 4-6 months so I could use it for
some
trips totalling 40-60 hours. My questions to the group a has anyone
done
something like this, and what are the potential pitfalls (insurance,
liability,
availability, etc...) that I should be concerned with?

I'm Commercial, Instrument, Single Engine rated with 500+ hours and 100+
complex, 100+ high perf so I'm assuming that becoming a named-insured
pilot on
the policy won't be much of an issue after a 5 hour checkout.

Thanks in advance,
Eric

The open-pilot clause in my Saratoga insurance policy requires instrument
rating, 750 hours PIC, 50 of which are in exact make and model. The policy
also prohibits charging anyone for using the airplane, other than
reimbursement of operating expenses. If you become a named insured and you
fall short of the open-pilot clause requirrements, the premium may go up and
you will have to reimburse the owners for that. But the big thing in this
policy is not being able to charge for use of the airplane. I sure wouldn't
let someone use mine just for operating expenses.


Stan