What do you think are the key areas that owners need to stay on top of?

I would say the key areas typically fall into four categories.

Flag state compliance, so vessel registration, surveys, certification, safety management, ISM, ISPS, drills, procedures, audits.

Crew compliance, a big one, MLC, contract certifications, work rest hours, and environmental and cruising regulations.

So local permits, emissions, charter regulations, each of these evolves constantly and requirements differ depending on where the yacht operates.

So missing even a small element can lead to delays, fines, or large operational restrictions.

And then what are some of the challenges with crew management then that owners are not thinking about?

A few key ones, jurisdictional complexity.