Owner Records

Paul Hamilton is one of the first persons to become a DPE (Designated Pilot Examiner) for sport pilots. As a full-time author and sport pilot expert, he writes books and produces DVD's for Aviation Supplies and Academics (ASA). Now Paul has graciously agreed to answer your questions here. Thanks Paul! For more information about Paul, please visit www.Paul-Hamilton.com and www.Sport-Pilot-Training.com.

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deltafox
Posts: 306
Joined: Tue Apr 06, 2010 2:21 pm

Owner Records

Postby deltafox » Thu Jan 06, 2011 10:14 am

I've owned an airplane for about a month. While I'm very familiar with pilot logs, the record keeping for an airplane is new to me. Is there a preferred system to keep track of all of the running costs associated with ownership. Do you use a ledger (old school) or .xls or application (new school) to track and record all of the costs of ownership?
Dave

bryancobb
Posts: 371
Joined: Tue Jun 02, 2009 12:35 pm
Location: Cartersville Georgia

Your I.A.

Postby bryancobb » Thu Jan 06, 2011 12:04 pm

This is an area where the right method and correct terms should be used for several reasons, the main one being TO PRESERVE AS MUCH VALUE FOR YOUR AIRCRAFT AS POSSIBLE. The "LOGS" for your aircraft could decrease the value of it by several thousand dollars, if you ever decide to sell it.

The best way to become knowledgeable in this area is to spend time with your A&P or preferably an A&P/I.A. (with years and years of experience) EVERY TIME anything is written in the engine or airframe logbooks. Use their experience to gain an education.

Pay attention to what is entered and what is not, and how it is worded. One example ... If you find inspect and find some corrosion on a strut attachment, strip the paint there, eliminate the corrosion, prime with zinc chromate, and repaint it... The logs could say:
A) Stripped Inspected and Refinished all strut attachments.
or it could say:
B) After inspecting all strut attachments, found corrosion on lower two. Cleaned off corrosion and repainted all.

(A) would be good for your airplane's $$ (B) Would NOT.

Log requirements and how to complete them best, only comes with experience. Don't try to do it alone. Buddy-Up with an A.I. and get coached.

As to the format, Most mechanics use the sticky-label and word processor these days. This allows you to take the label home and stick it on the next page of your logs, yourself. On my helicopter, --helicopter logs are INTENSE and 2x as important as fixed wing because there are so many life-limited parts -- I used the ADLog system which allows you to use 8.5x11 paper and a ring binder. That way you can use a word processor for all entries, or you can stick the A&P's sticky labels on the page. Each page is then 4x as big as a typical logbook.

ADLog provides you with a Ring Binder and appropriate tabs. They also send you every A.D. that has ever came out on YOUR plane. The Red Bordered A.D. Cards are the Recurring ones. The Green Bordered A.D. Cards are the "Do-Once" ones.

Real nice system that makes record keeping easier and adds value to your aircraft.

Aerotech Publications Inc.
PO Box 1359
Southold, NY 11971-0965
1-800-235-6444
In NY 1-631-765-9375
FAX: 1-631-765-9359
www: http://www.adlog.com
Bryan Cobb
Sport Pilot CFI
Commercial/Instrument Airplane
Commercial Rotorcraft Helicopter
Cartersville, Ga
bryandcobb@att.net

zdc

Re: Owner Records

Postby zdc » Sat Jan 08, 2011 12:34 pm

deltafox wrote:I've owned an airplane for about a month. While I'm very familiar with pilot logs, the record keeping for an airplane is new to me. Is there a preferred system to keep track of all of the running costs associated with ownership. Do you use a ledger (old school) or .xls or application (new school) to track and record all of the costs of ownership?


When I used to keep track of costs, I used a simple ledger and it was easy enough. What you will find is that your hourly operating costs are roughly what you would pay for rental assuming you fly at least 75-100 hours per year. The higher the number of hours flown the lower your hourly cost are. Factor in the principle cost of the airplane, and any interst paid on a loan, plus money lost that could have been gained if the money had ben invested in an income producing product, and you will see why flight schools love leasebacks. Owning does have the advantage of freedom though, and you will fly more as an owner than a renter. A lot of overnight trips that you will take as an owner you just wouldn't do as a renter. The factors that are hard to predict are fuel prices and repairs. You will need a rainy day fund to cover the costs of any unexpected repairs. The best compromise between cost and freedom is a well run club, especially a club where most of the members are not very active in flying.


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