Can I Rent Out My Travel Trailer?
Have you ever wanted to get more out of your RV? An RV can be a great ticket to an outdoor getaway, but most RVs sit idle for 90% of the year. If you’re wondering what to do with your RV when you’re not using it, why not rent it out?
If you’re like most RV owners, you bought your RV because you wanted to enjoy new locales on vacation, and like the freedom an RV can bring you. You’ve probably also found yourself looking at it in your driveway and wishing you could use it more often.
That’s where renting out your RV comes in. If your RV is going to sit idle for most of the year, say 11 months out of every 12, why not let someone else use it as a rental?
Instead of sitting idle in your driveway, your RV will be out making someone else happy while earning you a source of revenue. Rather than a financial liability, your RV will be a profitable asset.
Many RV owners are discovering they can make good money renting out their RVs through rental marketplaces like RVshare.com. The RV rental market is growing, with more and more RV owners turning their RVs into sources of revenue to cater to rising consumer demand for RV rentals.
For every one RV owner, there are any number of people who would love to use an RV but aren’t ready to buy one. An RV is a substantial investment, as all RV owners know, and there are plenty of people who are into RVing but not enough to buy an RV at the present.
For these people, renting an RV is a good option: they can pay to use someone else’s RV, go on their vacation, and hand back the keys when they’re done. It’s classic supply and demand: rental customers enjoy the RV experience without having to buy an RV, and owners make extra income.
The rise of RV rentals is part of a broader phenomenon The Economist dubbed the “sharing economy” of mostly internet-facilitated peer-to-peer rentals. The best-known example is probably Airbnb, a San Francisco-based online peer-to-peer hospitality service.
In the sharing economy, any asset for which there is a rental market can be a source of revenue. The role of sharing economy companies, like Airbnb, is to connect buyer and seller.
The Airbnb of the RV rental market is RVshare, the largest and most trusted RV rental marketplace. RVshare connects RV owners across the country with RV renters, providing a platform for RV owners who want to earn some extra money from their RVs.
Of course, all of this begs the question of how much money you can expect to earn from renting out your RV, and whether it will be enough to make the exercise worthwhile.
From a purely financial perspective, renting out an RV as a source of income is a sound proposition. Most RV owners who rent out their vehicles can expect to make $10,000 a year without breaking a sweat.
However, it is very common for RV owners to make more than this, sometimes much, much more. Browse the testimonials of RV owners who have used RV rental services like RVshare, and it immediately becomes clear that with the right vehicle and sufficient bookings, you can realize a quite substantial return.
Denton of Delaware, Ohio, reported making nearly $68,000 — from about a dozen rentals, one for a whole month.
While turning your RV from a liability to a revenue-generating asset is a winning proposition, some RV owners may balk at the idea of other people using their vehicles. You may have concerns about privacy, or about the condition renters will bring the vehicle back in.
Fortunately, there are very simple ways to keep your investment protected. RV rental services like RVshare help RV owners with insurance, making sure that the vehicles and renters are protected. RV rental owners also require deposits from renters, which can cover any damages.
In truth, however, the testimonials of RV rental owners indicate that renting out their RVs is a very positive experience. They often find any initial concerns they had went away once they get into renting out their RVs.
Indeed, while insurance and deposits can offer some peace of mind, many testimonials make it clear that RV rental owners genuinely enjoy the people they rent out their vehicles to.
“I have to say I have so enjoyed meeting the people who have rented my RV and feel as if they are now friends,” says Rebecca of Poulsbo, Washington.
“I feel great when a customer returns the RV and they had the best time of their life,” says Jose of Sierra Vista, Arizona.
Indeed, one common thread in the testimonials given by RV owners who rent out their vehicles is how much they appreciate the people they rent to. Many owners emphasize how wonderful it is to see how happy their customers are when they come back.
“If you own a motorhome, please share it with others,” says Kevin of Clinton Township, Michigan. “The best part is the extra income and seeing the happy families, especially with kids!”
The accounts of RV owners who rent out their vehicles are overwhelmingly warm and positive toward their customers. The overall atmosphere seems to be characterized by goodwill, even camaraderie, between owners and renters.
Renting out an RV, then, is a low-risk proposition, and many accounts suggest it is actually a profitable and enjoyable one. The industry is already well-established, and service providers like RVshare offer thriving marketplaces for connecting buyer and seller.
So if you own an RV and you’re tired of seeing it sit idle in your driveway, why not turn it into a source of income? You’ll be spreading the joy of RVing and gaining a valuable stream of revenue at the same time.
For more information and to find out how much you can make renting your RV check out RVshare.com.