RVs sharing for the summer
RVs sharing for the summer.
Can I make extra cash by renting out my RV camper? Sure, you can! Here are a few tips on how to make money by renting out your RV. Have you been dreaming about owning an RV camper at least to take your family out every summer to a family camping trip, but you’re worried about what you’d do with it after the end of the trip? Indeed, storing a large recreational vehicle and dealing with regular maintenance costs is a common dilemma among RVs owners. For instance, if you spend about four weeks every year using your RV, then it means that you’ve got 48 weeks to leave your RV sitting idle every year.
However, instead of letting your RV stay idle for that long, you can make money by renting it to vacationers who have a different vacation schedule from yours. The good news is that you can do the renting by yourself or through professionals, whichever suits you best. Renting your Class B RV can mint about $30,000 per year, while Class C can make you about $38,000 per year and if you own Class A RV just like me, then expect to earn about $60,000 per year. Such an amount is good enough to help offset the vehicle’s cost and as a lucrative passive income.
Here’s how you can rent out your RV to other vacationers.
Typically renting out your RV by yourself means that you’ll have to make advisements of your rental with a detailed description and pictures. Besides, you’ll have to set a schedule, rates, and finally finding a renter. Once you get an interested RV renter, the next thing is to seal the deal by accepting the payment. The main challenge about renting out your RV by yourself is that you’re transacting on a trust basis since you’ll be assuming that the renter is responsible enough to take care of your vehicle and observe the schedule. However, that’s not always the case, and if things don’t go as planned and agreed upon, you’ll have nothing but to accept the losses. The good news is that such a scenario can’t happen when you involve a professional renting your RV van. A professional RV renting company is meant to take care of those unnecessarily hassle. They operate as a peer-to-peer platform where RV owners can find reliable renters who meet a set of specified criteria. Apart from handling payments on your behalf, they also issue an insurance cover to protect your RV van in case of a risk happening.
So, how do the professionals operate when renting your RV?
A professional RV renting company applies the same model by connecting potential renters with RV owners if you know how the Airbnb peer-to-peer business model operates. Such a platform allows the potential renters and owners to touch and feel secure about the renting deal and enjoy the fantastic benefits of a P2P business model. One of the most significant benefits of renting your RV camper through professionals is that you’ll have complete control over what can get into your vehicle. You have the authority to determine what should and should not get into your vehicle.
For instance, some RV owners set rules about:
Smoking, pets (for instance, charging an extra dollar per pet), mileage limitations, least number of nights, among others. Moreover, as an owner, you can decline any rental request that doesn’t suit your specifications. Rejecting a rental request doesn’t affect your future abilities to renting out your vehicle.
The renter is also required to make a damage deposit once you accept their rental request. Besides, the insurance cover provided by the platform protects both the RV owners and renters from those unforeseen risks while on vacation. Once you’re okay and ready to handle the key to the renter, you both meet and maybe have a brief tour together as you hand over the vehicle keys. The primary purpose of this short tour is to confirm that you handled the car while it is in good condition and the reference point when checking if the vehicle has been returned as it was. Once the renter picks up the vehicle, your payment is due, but the exact payment time may vary from one platform to another.
This is a win-win model for both renters and owners. Benefits include but are not limited to
Making a considerable passive income
Reducing the storage fee for your RV
Helping others taste the fun of vacating on an RV
Meeting other enjoyable RV vacationers.
However, there are a few downsides, such as feeling stressed when your RV is away from you.
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