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Lots of people have an RV they use only during certain weeks of the year – maybe during school vacations, family vacations, and such. Others travel in the summer, but not at all during the rest of the year. As a result, it’s becoming more common for RV owners to rent their rigs to others to make some extra money when they’re not in use. So, today we’re taking a look at how to rent out your RV – for those who might like to turn their part-time home-on-wheels into a side hustle.
Let’s see how it works!
- 1) Is Renting Out Your RV a Good Investment?
- 2) Is the RV Rental Business Lucrative?
- 3) Do I Need Special Insurance to Rent Out my RV?
- 4) How Much Should I Charge to Rent My RV?
- 5) How Do I Advertise My RV for Rent?
- 6) What Should I Do to Prepare My RV for Rental?
- 7) How Do I Teach the Renters of My RV How to Use It?
- 8) What Are the Pros and Cons of Renting Out an RV?
- 9) Would You Ever Consider Renting Out Your RV?
Is Renting Out Your RV a Good Investment?
The answer is that it can be.
Our dear friends Alyssa & Heath Padgett rented out their 2016 Winnebago Brave four times back in 2020. From just those four rentals, they made over $5,000. Heath noted that their entire year’s payment on the rig was $7,000, so as a result of renting out their RV just four times they were able to cover a very significant percentage of the entire year’s payments on the Brave.
So, yes – renting out your RV can be a good investment, provided you have good experiences doing so.
Is the RV Rental Business Lucrative?
The RV rental business has become a very lucrative business. More and more people have become interested in RVing, but either don’t have the time to make the purchase of an RV worthwhile or can’t swing ownership of an RV financially, which is understandable.
For these travel enthusiasts, renting an RV is the perfect answer.
Also, many people think they might like to try RVing before committing to the purchase of a rig and all of the expenses that go along with ownership of an RV. Renting an RV is also a perfect option to give them an opportunity to see if they’d enjoy RVing as much as they think they would.
And finally, RVing, in general, has really taken off in recent years, and the RV rental business has certainly taken off in tandem.
So, the RV rental business can be very lucrative. The most popular rigs to rent are Class A RVs whose owners can make as much as $60,000 in a year of renting out their rigs. Some Class B and C owners earn between $40,000 and $45,000 when actively renting, while travel trailers can bring in up to $20,000 a year for their owners.
But, the average RV owner makes somewhere around $16,000 or so renting out an RV throughout the year.
Remember, though – location matters as well. RVs are rented in every state throughout the country, but some of the most popular areas for RV rentals are Texas, Utah, Arizona, Colorado, and California.
Do I Need Special Insurance to Rent Out my RV?
You do. In addition to the RV insurance you have as the owner of the rig, you need to have a special insurance policy that covers the period of time when someone is renting your RV.
There’s an RV rental marketplace to help with private insurance matters, but if you rent your RV using a peer-to-peer business like RVnGO, Outdoorsy, or RVShare, rental insurance on your RV will be provided as part of the package.
How Much Should I Charge to Rent My RV?
That really depends on a number of factors such as: what kind of an RV you have for rent; how old it is; the location in which you’ll be renting; whether you’ll be using a listing site, etc.
If you take a quick look at RVnGO, Outdoorsy, or RVShare, you can search for rigs like yours, (Class A, B, C, travel trailer, etc.), and see what the average prices are for similar RVs in your area.
Prices have gone up lately, in accordance with the strong demand for RVs. But you need to take into consideration the type, age, and condition of your RV as well as your location and the going rates in your area.
How Do I Advertise My RV for Rent?
You can do this in a number of ways. You can rent your RV privately, on your own. (Just make sure you look into the insurance piece because you’ll need to make sure you have RV rental insurance.) If you choose to rent your RV on your own, you can advertise on Craigslist or Facebook.
If you use one of the listing services we’ve mentioned, you simply head to their site and sign up to have your rig listed. Be sure to read all the fine print, and take the suggestions of the rental service to heart – they know what they’re doing.
Let’s take a look at three of the most popular RV rental services:
RVnGo is unique in that 100% of the RV rental fees go to the RV owner. There are no listing fees and no transaction fees. Listing your RV is free and easy. You’ll provide information about the RV and photos, along with the dates when your RV will be available to rent.
RVnGo provides $1 million liability insurance covering both the host and the guest, throughout the period of the rental. The insurance is underwritten by AAA carriers, and the daily insurance rate is paid by the guest as part of the rental.
RVnGO charges guests a 3% credit card fee.
Listing your RV on Outdoorsy is free, but the company takes a percentage of your booking fee. They also provide a $1 million insurance policy covering both the owner and renter and they run a DMV check on every driver. Outdoorsy also provides 24/7 roadside assistance.
RVShare is the longest-running peer-to-peer RV rental service. Like Outdoorsy, it’s free to list your RV with RVShare, but the company takes a percentage of your rental fee as compensation. They also offer RV rental insurance and roadside assistance 24/7.
What Should I Do to Prepare My RV for Rental?
The first thing you’ll want to do to prepare your RV for rent is to take care of all repairs, minor and major. Have a professional inspection conducted and hang on to the inspection receipt as proof that you’ve taken this step.
Next, you’ll want to clean the inside and outside of your rig thoroughly and take detailed photos throughout your cleaned rig.
You’ll be providing things like your pots and pans, dishes, cutlery, etc. (Some RV owners buy a separate set of dishes, cups, linens, towels, and a few other things, and use those only for rentals.) You’ll want to also fill soap dispensers, and make sure everything throughout the RV is working as it should.
As a nice touch, you could include some extras like coffee & teas, candy, or even some homemade cookies to greet your renters.
How Do I Teach the Renters of My RV How to Use It?
If possible, take a test drive with the renter to familiarize the driver with the operation of the rig.
Next, you’ll want to walk around the outside and the inside of the RV giving the renter instructions on the safe and proper operation of every part of the RV.
Pro Tip: Have someone film the instructional tour and send the video to the renters so they’ll have the entire tour with them throughout their travels. It’s a great and relatively easy way to help increase your renters’ comfort and satisfaction.
If the renters aren’t going to be traveling but are simply going to be camping at a campground or RV park within a reasonable distance of your home, you can offer to deliver the rig to their campsite as part of your rental service. You can set it all up for them, give them an instructional tour (which you video), and then pick up the rig at the end of their camping trip. They’ll simply drive their vehicle to the campsite, and you’ll be the only one driving your RV.
What Are the Pros and Cons of Renting Out an RV?
There are definitely pros and cons to renting out an RV.
In the “pros” category, you’ll be making some money to offset the expenses of the RV for you, and you may even save money on storage fees you’re not paying while you’re renting out your rig. You’ll also meet some nice people who you just might turn into regular RVers, thanks to the great experience they have renting your RV.
But, there are cons to consider as well. Chief among them is the wear and tear on your RV and the risk that it gets damaged. You’ll also have some increased maintenance costs to deal with over time.
You’ll also have to take the time and energy to sift through the requests that are sent to you and choose the people you’d like to rent your RV, and you’ll also have to clean the RV thoroughly after each rental period.
Finally, you’ll need to remove all of your personal belongings from the RV prior to renting it… and then put them back for when you want to use your own rig.
Would You Ever Consider Renting Out Your RV?
Now that you know the ins and outs, the pros and cons, and the potential financial benefits of renting out your RV, would you ever consider renting out your RV? Tell us why or why not!
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