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Is renting out your RV a good business? How much money can you make renting out an RV? Read on to learn more.
Renting out your RV is a great side hustle, especially if you're a seasonal RVer or a snowbird. But is RV renting all it’s made out to be? Will you get your RV back in the right shape? Which is the best platform to list your RV for rent? Read on as we dive deep into how you can earn a passive income by renting out your motorhome.
Should I Rent Out My RV?
Let’s start with a basic question: should you rent out your RV? The answer depends on several factors. Do you own an RV that sits idle for months at a time? Would you like to earn some extra income? If so, renting out your motorhome might be a great option.
Pros and Cons of Renting Out Your RV
Before you decide to rent out your motorhome, let's take a look at some pros and cons of the process.
Benefits of Renting Out Your RV
Extra Income: Renting out your RV is a great way to make some passive income during the off-season. A Class A motorhome can be rented out for over $250 per night. This makes renting out your motorhome a solid business idea.
No Storage Charges or Campground Fees: Not everyone has a garage or driveway where they can park their RV for free. Renting your motorhome saves you the money you would have to spend on storage costs and campground fees.
RV Payment: RVs are expensive, especially Class A motorhomes and larger trailers. The income you get from renting your RV can go towards your motorhome payments while making sure that the RV pays for itself.
Share the #rvlife Experience: A lot of new RVers want to get a taste of the RV lifestyle before they commit to it and they do that by renting RVs. RV sharing allows you to promote the RV lifestyle and introduce new people to the benefits of living on the road.
Meet New People: The thriving RVing community is full of different kinds of RVers. It is always a good idea to meet new, like-minded people and share your #vanlife stories. The more people you meet, the stronger the community becomes.
Stresses of Renting Out Your Motorhome
Moving all your stuff out: One of the benefits of owning your own RV is that you can store all your camping gear and other stuff inside the RV year-round so that it is ready and packed whenever you decide to hit the road. When you rent it out to someone, you will have to take all that stuff out which is an added hassle.
Wear and Tear: RV maintenance is no joke. While your RV is on the road it will face wear and tear (and maybe even bruises and bumps). While RV insurance can help cover any major expenses, you will have to pay the normal maintenance expenses yourself.
Cleaning the RV after every trip: You need to clean and wash your RV after every renting trip. Even if the renters were nice enough to tidy up the inside of the RV, very few would swing for a full wash and deep clean. Cleaning your RV that frequently is not just a hassle but can also rack up the bills if you're paying a professional to do it.
Tension and Anxiety: For a lot of RV owners, the RV is their home. Letting someone else into your home (and driving off with it) can be a stressful thing. No matter how conscientious your RV renters are, they are still strangers using your space.
How to Rent Out My Motorhome?
If you’ve decided to rent out your RV, here are some ways to get started.
List your RV on Peer-to-Peer RV Sharing Platforms
Using platforms like Outdoorsy.com and RVshare.com (RVezy if you're in Canada) is one of the easiest ways to get your RV listed. Platforms offer insurance options and help match you with renters. Outdoorsy, for example, takes a 20% commission, and RVshare’s rates can reach 25%, so factor this into your earnings. Both platforms offer liability insurance coverage of up to $1 million, with comprehensive and collision coverage ranging from $200,000 to $250,000, though these amounts should be verified with the platforms for the latest updates.
Find Renters in Your Local Community
Maybe you're not comfortable vetting RV renters online, another way to find reliable renters is to reach out to your local community through newspapers and E-newsletters. Have your local news portals run a small AD about your RV and ask interested candidates to meet you face-to-face. This is a good way to meet and vet potential renters so you can choose the ones you are most comfortable with.
Advertise Your RV on RV Forums
There are many online forums where RVers of all types frequent. Choose the one you're most comfortable with and let them know that your RV is up for renting out. Advertising on RV forums means you are reaching out to your target market directly. You can interview interested candidates online or in person, as per your preference.
Is the RV Rental Business Lucrative?
How much money can you make renting out your RV? Well, the exact amount depends on the class and type of RV you own, the renting platform you are using, the season in which you are renting your RV, and how well you advertise your RV and negotiate the rate.
Income Potential for RV Rentals
Income from renting your RV varies based on RV type, season, and platform. Here are some current earning estimates from platforms like Outdoorsy and RVshare for a 1-2 week rental:
Class A RV: $1,600–$3,000
Class B RV: $1,500–$3,000
Class C RV: $1,100–$2,200
Campervan: $900–$2,000
Camper Trailer: $900–$2,000
RVshare states that larger motorhomes can earn up to $60,000 annually, but this will depend on demand, your chosen platform, and any added costs.
Other Considerations
Commission Costs: Outdoorsy charges a 20% commission, and RVshare charges up to 25%. Ensure you consider this fee when calculating profits.
Maintenance and Insurance Costs: Increased use means higher maintenance costs. While platforms provide basic insurance, you may want additional coverage.
Storage Costs: Whether in use or parked, storage fees are a factor.
FAQs
How Easy is it to Rent Out Your RV?
RV-sharing platforms make renting your RV easy. You set the rate, choose your renters, and decide when to rent. Platforms help with scheduling and marketing.
What Kind of Insurance Do I Need?
Outdoorsy and RVshare offer comprehensive and collision insurance, with liability coverage up to $1 million. The insurance protects your RV during rental periods, but additional protection may be required depending on your needs.
Can I Rent Out My RV on Airbnb?
Yes, Airbnb offers a campervan hosting section where you can list your RV. However, commission rates and insurance options may differ from those of dedicated RV platforms.
Can I Rent Out My RV on My Property?
This depends on local laws. Some states allow you to rent out an RV on your property, while others do not. Check your local regulations to ensure compliance.
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