RedactedNarrative: V1 was a yamaha waverunner lease by extreme fun unlimited and rented to subject and operated by operator1. Subject rented two yamaha waverunners from this livery under her name and also had a minor on board the other pwc. V1 had the single occupant and he experienced a mechanical failure in boca criega bay just south of the welch causeway bridge. Both of these operators had no experience on personal watercraft and did not know v1 was swamping and sinking. Livery operator was contacted by cellular phone and they found the engine compartment full of water with the engine submerged. Livery operator recovered v1 and placed it on a rack at lighthouse point marina. V1 was inspected at marina and a leak in the hull was observed at the forward and front end of the intake grate. Leak was found by filling the hull with water with drain plugs in place. The motor was not operational at the time of this inspection to see if this leak was worse with vibration while motor was running. It was also undetermined if the drive shaft had a good seal. Livery operator pointed out some possible damage located near the starboard bow near the bow eye. There appeared to be missing a gel coat from a prior repair but the hull did not appear to be breached for water to enter at this bow location. Pinellas county s.o. crash report so14-325733 will have attached images of this vessel. Photograph #6 indicates the area of the leak that was observed on hull.