Hampstead facility's rental rules worry boaters amid new owner's plans to upgrade

The Sloop Point Marina provides access to the Intracoastal Waterway, but rental and ownership policies are frustrating boaters using the facility.

In December, Off The Hook Yachts purchased the dry-stack facility in Hampstead with more than 200 boat spots. The property at 579 Lewis Road was previously owned by Logan Developers Inc., a Belville-based business. Many people have expressed their concerns through social media.

Walt Taylor became an owner of a boat slip last spring. After visiting Hampstead for several years, he moved to the area last year. During that time, he said Off The Hook wasn't around. It was converted from a rental to an ownership system before the Wilmington-based business arrived.

"That's when all the people who have been renting there for years were told that you either have to buy a slip or you're out," Taylor said. "Some people bought and I think the majority of people left."

Taylor was unaware of the problem while looking for a neighborhood with boat access. That's when they stumbled upon Sloop Point.

"It was certainly pricy, but in the long run, we felt like it was going to be a good investment," he said.

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So far, it's been smooth sailing for Taylor. But he understands the frustrations of people who rented there before and the back and forth of ownership decisions.

"If I would have been one of those people who had rented for years and then turned around and paid $100,000 to purchase a slip, then a year later, it turns right back around and goes to rental, I would be really concerned about that," Taylor said. "I know there are some people that are pretty hot under the collar about it."

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Another concern from the transition is people leasing from Off The Hook not having to pay homeowner association or monthly assessment fees, which are hundreds of dollars.

He hasn't seen a lot of changes yet with the ownership, but Taylor is looking forward to what's ahead and improvements, such as expanding the boat yard for more docks. There's also talk from neighbors about a restaurant coming soon.

"I'm encouraged by that personally," he said. "I have no ill will towards Off The Hook. At the end of the day, talk is cheap. After a year or so, I'm hoping to see some action and improvements. But from what I understand from people who are there, more often than I am, it does look like some encouraging signs that Off The Hook is doing the right thing."

Along with boat spaces, the marina also offers a store with refreshments and supplies, mobile fueling, and two lifts. Off The Hook is planning to add an event space for showcase events.

Moving in

The business is owned by Jason Ruegg. He made a decision to purchase the marina because of Hampstead's growth and its close proximity to Wilmington, the beaches of Topsail Island, and construction of the Hampstead bypass, which is designed to improve traffic along the U.S. 17 corridor.

Ruegg said he had nothing to do with previous issues. He said tenants had an annual lease and management let them know that for the following year, after their lease expired, they would no longer be leasing slips and selling them only.

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"Many slip holders were frustrated, but it was the seller's right to do this if they wanted to go to a model of selling boat slips, versus leasing them," Ruegg said.

He said they offer leasing with an option to buy while also emphasizing their commitment to the marina.

"We plan to move our operations to the Hampstead area within two to three years and we will be operating partially out of Sloop Point Marina," Ruegg said. "The past owners were not in the boating business, they were developers. They developed properties to resell them just like they did with Sloop Point Marina. We are in the boating business and need the racks for our operations."

With 12 other locations in the U.S., the business offers wholesale purchasing services for brokers, boat dealers, and private individuals. In addition to Wilmington, offices are also located in Wrightsville Beach, Maryland, New Jersey, and Florida.

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Reporter Chase Jordan can be reached at cjjordan@gannett.com.

This article originally appeared on Wilmington StarNews: Boaters deal with rental changes at Hampstead's Sloop Point Marina