My knowlege of ownership (partial or sole) is based on second-hand info, but I have been thru a few different rental/club scenarios, and have found that in general, if you don't own, a club is the better way to go.
If ($$$) you can own a plane outright, with a partner or not, that's obviously best... I think club membership comes next, followed by what we call "renting".
Bear in mind that the things listed below are not always the case- it's just stuff I learned renting from three different schools and being a member of one club (and visiting a few others).
Also remember I am only comparing school/FBO rentals with the typical club. This is MY 2 cents, not a definitive statement on what's best for you.
Rental (flight school, FBO, etc.)... pros:
-No money down to participate, and if you pay for a block of time in advance, you may get a discount.
-A for-profit business means high motivation to make sure the aircraft are airworthy
- No meetings to attend or dues to pay.
-Rental outfits are usually schools; this means a pool of CFIs readily available for currency/advanced training.
Rental cons:
-You pay for Hobbs time, not tach time, and the school/FBO could fold at any time and disappear with your deposit (no, really).
- Despite the obvious business sense of keeping the planes flying, other than weather, in my training/renting days maintenance issues were the number 1 cause of cancellations. An I often didn't hear about it until I showed up. Come to think of it, about half the time I was the one who discovered the plane was not airworthy...
-You don't know much about who else is flying the plane, or what they've done with it.
-Scheduling a plane for an overnight or extended trip can be extremely difficult.
-Renters are not happy when you book for 3 hrs and come back with 1.5 on the Hobbs... could affect your relationship with them.
Now let's look at clubs, which are essentially shared-ownership arrangements, but typically spread out a bit so eah member pays less individually...
Club pros:
-Cost of entry. Initiation fees and dues vary wildly, but the deposit is usually refundable (if and when you leave), and the dues are usually less than even a partial owner usually shells out.
-Camaraderie. A real club is a social thing; you meet regularly, you maintain the planes together, you do fly-ins, you make friends to go flying with to share expenses... and you learn things as a pilot. It can be wonderful.
- Many clubs have several aircraft and only a few active members per plane. My first club had two 152s, a Skyhawk, an an Arrow, and everybody wanted to fly the Arrow, and sometimes the 'hawk, except the couple of students... and me. I got in lots of really cheap 152 time, and quite a lot of 172 time. I never , EVER called the booking number, even the day before a planned flight, and said "Darn! It's not available the day I want it!" Ever. That's amazing, compared to renting from a school. Most clubs charge a daily minimum of hours for overnight trips, but typically less than the minimum require by renters, and it's just easier with many clubs. Example: right after I joined a club, they happily let me take a 172 VFR from NJ to New Orleans and back, solo.I booked the block about 2 weeks in advance.
I flew over two weekends and parked the plane at NEW all week. The total tach time for the RT came out to just about the daily minimum for the six days.
- Most clubs charge for tach time, not Hobbs time. this means you basically taxi for free, and if you are clever and patient, with the right plane you can save money on cruise descents, etc. Last few times I did more than 1.5 in the pattern, 6-8 full-stops per session, my tach time was 50% of the Hobbs time. this is a no-brainer. And no, generally the hourly rate itself is no more than the average school rate for the equivalent plane. In my experience, the monthly dues of club membership did not eat into that savings...back in 2000 I was paying $45/hr wet for a GPS-equipped 180-hp skyhawk. That was real good, even for back then. Dues were $30/month. things have changed, but a club still seems better than renting, in general.
- Club aircraft are usually maintained very conservatively, but not always at great inconvenience to members. And unlike a two or three person partnership, if Baby needs an engine teardown, the members don't have to dig deep in their own pockets or break the partnership piggy bank, then wait for who knows how long to fly again... the club I was in sent its birds out for a pre-emptive engine swap (with a zero-time "reman") with plenty of advance notice, and it never put a damper on my plans or cost me an extra penny. And there was always full disclosure of what work was done, and why, and what it cost.
-Club cons: You have to put together a little money to get in. Maybe a lot of money.
-If they are not looking for new members, you may have to wait.
-You have to pay dues whether you fly in a given month or not.
-That's about it.
There are all kinds of clubs with all kinds of rules... some pilots may prefer to spend more money renting flight school planes for the "walk in and out" factor. But if you're like most people, you'll opt to save money and feel better about the planes you fly and the other people flying them.
