Renting out your RV can become a steady source of extra income. Here are 5 things you should know before you consider taking the plunge.
- 1 Renting out your RV can become a steady source of extra income. Here are 5 things you should know before you consider taking the plunge.
- 2 What You Should Know Before Renting Out Your RV
- 3 Is Your RV in Storage More Often Than Not?
If you own your RV and are storing it much of the year, renting out your RV can bring additional income in lieu of storage fees. Even renting out your RV a few times a year can bring in some “fun money” for your next RV trip.
Plenty of people love the RV camping experience but it’s not feasible for them to own one. So with an RV rental, these people still get to have their RV travel experience without the bigger commitment.
But seasoned RV travelers aren’t the only kinds of people seeking to rent. More recently, first-timers have shown interest in droves to try out this method of travel, given how it’s a fantastic way to vacation while social distancing. It’s especially popular with music fans.
Needless to say, it’s a particularly big market right now and a great way to earn some extra cash while also growing the RV community.
No matter whether you’re Class A, Class B, Class C, or even a travel trailer, any type of RV appeals to different potential renters. Depending on the size of your vehicle, many owners make tens of thousands of dollars a year.
How much money you make on the RV rental marketplace depends on several factors, such as:
- Quality/Age of Motorhome (luxury motorhomes of course earn more)
- Rental Price
- Location of RV
- Quality of Reviews
What You Should Know Before Renting Out Your RV
If you’re interested in RV rental income, here are 5 things to know before renting out your RV for the first time.
Hopefully, it will give you a good idea of what to expect in the process of safely and responsibly letting others take your precious RV out on the road.
1 – Above All Else, Keep Your Peace of Mind
If you have read this far, you’re probably at least entertaining the idea of renting your RV.
But it’s completely valid to consider your RV’s wear and tear, knowing that renting will probably limit its longevity. There’s also the inconvenience of constantly moving your personal items in and out of the RV between renters.
While your RV can be protected by rental insurance, it’s still important to take an honest assessment of yourself and consider how stressed you would be if your RV was in someone else’s hands.
Looking at it this way, only you truly know if renting your RV is worth the money you would receive.
2 – When renting out your RV Technology is Your Friend
Speaking of peace of mind, using a peer-to-peer rental platform like Outdoorsy provides a relatively worry-free transaction between you, the RV owner, and the people looking to rent.
Founded in 2015, Outdoorsy is basically Airbnb for renting your RV. They have organized hundreds of thousands of successful rentals so far.
Just like a home with Airbnb, you list your RV and all its features and amenities along with available dates. The booking process is made easier by handling payment and facilitating communication between the renter and owner.
Outdoorsy also makes it safer by offering all renters $1 million in liability coverage, $25,000 in collision insurance coverage, and even RV roadside assistance.
Better yet for that peace of mind for all us owners, Outdoorsy runs a DMV background check on all renters.
Another one of the most popular RV rental companies is RV Share, which works in a similar way to Outdoorsy.
Founded in 2013 by a married couple, RV Share is extremely well-reviewed by both renters and owners.
One main difference between this and Outdoorsy is that RV Share is used often for one-way trips. So RV Share is ideal for renters who aren’t returning to the same location.
Also, RV Share services only the United States while Outdoorsy services Canada and Australia as well. Either rental company is a great option.
Oh hey, before I forget!
I wanted to mention that we have some awesome new merch in our shop, including t-shirts, hats, sweaters, and more. Be sure to check it out!
3 – Remember, The Owner has the Power
Your RV, your rules. Renting your RV by listing it on Outdoorsy or RV Share entitles the owner to have total control over the terms of rental.
For example, the owner chooses the available dates, the minimum amount of days a renter must book, and how much the RV costs per night.
Maybe you don’t want any animals in your RV. You can set up your RV’s profile to not allow pets.
Maybe you don’t want your renters putting too much mileage on your RV. You can set a mileage daily limit. The typical allowance is 100-150 miles, and if they go over that limit, charge them $0.30-$0.65 a mile.
You can note in your RV’s profile details about additional costs and fees for pets or services such as cleaning the bedsheets. You can even offer up your camping gear for rental too.
4 – When renting out your RV – Treat It Like a Rental Business
As in, keep the customers happy. You want those good reviews!
To start, it helps to scroll through some good reviews on other RVs’ listings and see what separates the good reviews from the bad.
Note how the best-reviewed RVs stand out.
Then when you do finally list your RV, consider pricing the nightly rate slightly less than similar RVs with a lot of reviews. This may help lure prospective renters to your RV despite the lack of a track record from other customers.
After you build up a cache of good reviews renting your RV, you can get competitive with pricing and earn even more extra money.
Another pro tip – posting the dates as far back in advance as you can to increase your bookings (especially for peak season!)
5 – Be Prepared to Teach Newbies the Basics
One benefit of renting your RV is giving someone an introduction to the RV lifestyle we hold dear. It may inspire some RV renters to even become a full-time RVer!
Plus, it can give young families an RV adventure without the cost of ownership.
But a part of being in our community is learning how to properly take care of our RVs.
They’ll need to know the essentials, such as dumping the waste tank. When you meet them, give them an overview and recommend they record it on their phone for reference later.
Instructing your renter on the basics makes for happy RV renters and happy RV owners! You’ll also likely be appreciated in their post-trip review.
Is Your RV in Storage More Often Than Not?
If you are seriously interested in renting your RV, our new ebook, The Complete Guide to Renting Your RV will really help. (If you prefer to buy through Amazon Kindle or Apple Books go here.)
In this ebook, you will learn all the ins and outs of choosing which firms to list with (you can sign up with multiple rental companies!)
We help you navigate the confusing world of RV rental insurance and learn how to equip your RV, vet potential renters, handle emergencies and easily earn extra income with surprisingly little work.
We cover everything you should consider before you begin renting your RV. It includes some of the pros and cons of renting, talking about the risks and rewards involved.
Then it dives into the specifics of how much money you can expect to make renting out your RV, how to pick the best RV for you (if you don’t already own one), and a great way to find/navigate an RV Rental insurance policy.
June 23, 2022at9:57 am, 7 Things RVers Wish They Had Known Before Becoming RVers | RV Lifestyle said:
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June 05, 2021at7:15 pm, 5 Things To Know Before Renting Out Your RV - 2boomersandababy said:
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