Do you want to make extra income by renting your RV? Many RV owners are now making money through an RV rental business.
Before you start renting out your RV, it is better to know how much you can make per year. The minimum money that you can make is $10,000 and there is no maximum limit as I have seen people making above $30,000 through extra effort and good business attitude.
There are many questions asked by RV owners such as what factors can limit their income, how to start an RV business, how much money they can make, RV insurance and the pros and cons of it.
In this article I have tried to give all the answers related to it, so stay with me to know the answers. If you already know about the RV listing process then Click here to List Your RV Today! and if you are new to this then read the article.
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Why RV owners rent out their RVs?
There are different reasons why RV owners rent out their RVs, some of them are:
This is the number one reason for renting out RV, and why not. After all, buying an RV requires a good amount of money and if there is a way by which the RV itself starts making money then who will not want it.
2. RV Maintenance
When you give out your RV for rent it goes through wear and tear. The money that is earned is also spent on the maintenance so that the RV remains in good condition after all this is also the factor that attracts renter.
If you are not renting out your RV then it remains in the storage where probability is that it will require maintenance. Machines and vehicles should be kept in a running condition so that they do not get damaged.
3. RV upgrade
Many people spend the money earned from renting in upgrading their RV or even buying a new one. If you want to give a new look to the RV then it requires money which you can make from the RV itself.
What Benefits RV Owners get from RV rental companies?
- Money: you can make up to $30,000 a year.
- Protection Package: RV owners get covered with $1 Million liability insurance. So, if your RV gets damaged by the renter due to accident or any other cause then you will be paid for it.
- Quality Renter: You get qualified renters with profiles and reviews and it is up to you to accept bookings or not.
- You are in Control: you have complete control over price and schedule, rent out your RV when you are not using it.
- Secure direct payment: the payment system used by Rv rental companies are safe and they put money in your account 24 hours after your RV is rented.
- 24/7 customer service: you and the renter can always trust their 24/7 customer service.
The Pros and cons of renting out your RV
You give your property in the hands of a stranger so, there are some pros and cons related to it. Let’s take a look at them:
Further Reading: OUTDOORSY REVIEW FOR RV RENTERS & RV OWNERS
5 Steps to Start Your RV Rental Business
Step 1: Buy An RV
If you have an RV then you are all set to go without any investment and if you do not own an RV then I will recommend buying a used one. I can give you some reasons why you must buy a used RV.
- After buying a new RV you can feel you invested a lot on a thing which you do not require.
- It is way cheaper than a new one.
While buying a used RV remember to make a good deal, don’t go solely for a cheap one as you have to use it for rental. You can refer to Nada Guides for up to date market prices.
Always try to buy a used RV which not older than 1 or 2 years old, as the condition of its engine, body, and interior is way good than the older ones. You may have to invest some money to upgrade the RV.
I will recommend buying a used travel trailer or a fifth-wheel instead of a motorhome. If you buy a motorhome then you need an expert to check its engine whereas it is way better to bring travel trailers and fifth-wheel because they do not have an engine and other stuff. Also, a tow-behind RV rental saves time and money.
Delivering a fifth wheel and travel trailer is easy as you have to park it, unhook it, set it up and drive back home in your vehicle. Whereas, with motorhome either you have to tow a vehicle or ride back in a taxi or bus back home.
Step 2: Prepare it for rentals
Now its time to prepare the RV for rental purposes. Keep this in mind that renters like extra amenities that you can provide as they do not have to bring those things with them. With this, they also like spacious RVs. So, you have to make a balance.
Keep items such as cleaning supplies, utensils, DVDs, TV, camping chair, Table, towel, toilet paper, hand soap, foils, paper plates, and others.
Avoid items such as personal photos, shoes, toothbrushes, food, and others.
You have to provide those things which are needed during staying away from home. Think about what things are kept in a hotel room, you will get the idea.
Step 3: List your RV on RV Rental Website
The day has arrived! This is an easy step where you have to list your RV on the RV rental website so that people who are looking for RV can find you. I am not suggesting listing in the classified as it is costly and does not help a lot. In the classified, you have to spend a good amount of money and there is a possibility you may not find a renter.
Whereas listing your RV on RV rental website is easy, free and a long-lasting step. It is a one time step where you list your RV and people keep coming up months and years after listing.
Below I have shown how you can list your RV on RV rental website such as Outdoorsy. I have selected Outdoorsy as it is one of the best and largest online RV rental service.
- Go to Outdoorsy Website and click where it is written List My RV on the upper right-hand side of the homepage.
2. A new page will open like one below. Where you have to click Select Vehicle Type and a drop-down menu will open where you have to select the type of RV you have.
3. I have selected Trailer and it is showing an estimated earning with my trailer.
4. Click Get Started green button.
5. after clicking Get Started button you will be taken to a new page where you have to fill in more details about your RV such as Manufacturer, Model, Year, Length. For example, I have filled the information.
6. After this, there are few more steps to complete and you are all set to rent your RV.
Step 4: Marketing
It is better to spread the words that you run an RV business as soon as you list your RV. Use twitter, Facebook, Instagram, and other social media platforms and also tell your friends and relatives about it.
Step 5: Management
Starting an RV business is easy as the steps above but managing it well and growing it day by day needs proper management and mindset.
I will start from the beginning when you buy a used RV for your business. Give the RV for rent and after 2 or 3 years sell it and buy two used RVs. Engage them in the business and sell them after 2 or 3 years. This should be your attitude, you should have a plan and also backup plans.
For tax-related questions, you can know everything here.
You should consult your legal and tax professional for further inquiry. If you need a loan then read this article.
What kind of RV can you list on RV rental website?
All most all kind of RVs can be listed on the rental websites some of which are:
- Class A Motorhome
- Class B Motorhome
- Class C Motorhome
- Travel Trailer
- Fifth Wheel
- PopUp Trailer
- Truck Camper
- Toy Hauler
How much on average RV owners can make by renting out their RV?
The straight answer is a minimum of $10,000 per year in extra income by renting out their RV online to strangers. After researching from the RV rental companies website I came to this number. Those people who rent it often make more than $30,000 a year.
I read it somewhere that a couple is making over $76,000 by renting their RV full time. You can even start your RV business about which we will talk later in the article.
Here is some general pricing from Outdoorsy, which is broken into income per day, weekly and annual incomes.
Potential Income Per Day
Class A: $175-$275
Class B: $100-$200
Class C: $150-$200
Travel Trailer: $50-$125
Fifth Wheel: $60-$150
Pop-up Camper: $50-$100
Potential Income Per Week
Class A: $1225-$1950
Class B: $700-$1400
Class C: $1050-$1400
Travel Trailer: $350-$875
Fifth Wheel: $420-$1050
Pop-up Camper: $350-$700
Potential Income Per Year
Class A: $15,000-$30,000
Class B: $12,000-$25,000
Class C: $13,000-$27,000
Travel Trailer: $9,000-$19,000
Fifth Wheel: $11,000-$22,000
Pop-up Camper: $6,000-$13,000
Factors deciding the income from an RV rental
This question is asked by many RV owners and the right answer depends on factors. Consider these factors and you will get a general idea about it. The factors are:
1. Frequency of renting
The frequency of renting out your RV will be the prime factor in deciding the money you will make. Let’s assume if you rent out your RV once a month and you have fixed the price at $150 per night. A customer rent an RV from you at this price for 5 nights then you will make $750 minus the share of the RV renting company which is generally 15 to 25 percent.
If you rent your RV twice a month then you will make two times what you were making. Your profit will rise depending upon the frequency of renting.
2. RV owner location
Location is also important in deciding income. If you live near a big city or place of tourist attraction then people will rent your RV often rather than if you are living in a village far away from the important route and attractive tourist location.
3. Time of the year
Another important factor, most of the people look at weather and holidays before renting an RV. The prime season starts from spring. This is the time when people decide to go on a vacation due to holidays and a good climate. If you live near a place where there is an RV festival then expect good demand.
4. The physical condition of your RV
Who will want to travel in an unclean and damaged RV? if your RV is clean, well maintained and damage free then people will get attracted to it.
5. Other factors such as allowing pets
People like to bring their pets along with them, if you do not allow it then you will lose some potential customers.
6. RV rent price
If you set the rent very high then people will avoid your RV and will look for other RV. RV rental companies allow fixing the price so don’t set it very high. Go through the list of RVs for rent and look at the price which is set by other owners to get a general idea about pricing in that season.
How much does it cost to rent out your RV online?
Companies like Outdoorsy are peer to peer RV rental network, their work is to meet RV owners to the RV renters, they are like Airbnb of RV world. In the middle of that deal, they make money. Generally, it is 15% to 25% of the total amount. In return, they provide 24/7 roadside assistance, secure payment processing, RV booking and potential customers for you.
Listing your RV at outdoorsy is completely free, companies only make money when you make money.
Tips to get a better deal by renting out your RV
There is so much competition from other RV owners, so, to make your RV the best among them you have to be smarter than others.
Here are some tips that will make your RV and deal more appealing:
1. Use Good Photos
How others can know your RV is good enough for renting? The answer is photos, yes photos can make a difference. People will go through your profile and the good photos can be a deciding factor in the deal.
People like pretty pictures and it is true about online shopping, that’s why you must have seen good photos of the product when you shop online. RV owners who include 4 or more pictures of their RV receive up to 7 times more inquiries.
You must include two exterior pictures and two interior pictures of your RV. The first one should be taken from the front and the other from the side so that people can get a good look at your Rig. Use wide-angle to capture the full RV. Talking about the interior, take photos which can sell, like if you have a well-furnished kitchen or bedroom then highlight them. Take pictures from different angles and if you are giving extra amenities then highlight them too.
Try to take the picture in nature and leave everything on people’s imagination. Whenever you are taking the pictures, ensure that there is sufficient light inside and outside, make it bright. You can also use photo editing software to make it better. Yes, photoshop it!
Your mobile camera is sufficient to get a good image. Remember to clean the RV and inside before photographing it.
2. Make Good Use of Listing Title
Titles are there to make your profile appealing and to attract possible renters. Use this space wisely and sell the uniqueness of your RV. Uniqueness such as if you are allowing pets to have an extra room, well-furnished kitchen, and bedroom or others, then highlight them in the title. It will make sure that people who are searching for an RV like yours should see it. Using these details will make a good impact on them and on your profile.
3. Provide As Much Details As Possible
Think like a renter and ask yourself what you would want in the RV you are renting. Extra space, cooking utensils, linens, camping gear or modular kitchen use them in your details.
The more details you fill in, the easier it becomes for a renter to book an RV. Yes, be accurate and never say what you cannot provide or the renter will cancel the deal and will give bad reviews.
4. Price Setting
You will get an idea about price when you will enter the details on the outdoorsy website which I will show you shortly. One way to get a good idea about the price is to look at the RV from your area.
To do this be in a renter mode and fill in the details which will provide the estimate. Fill in the details in the Rent An RV section of the Outdoorsy website. Details such as type of RV (this should be your RV if you have travel trailer then type that in), Pickup location (your location) and others details. Now when the list of RVs appears use filters such as if you allow pet use, provide utensils and other stuff which you will provide.
Now from the given list of RV, you can get a good idea of what prices are set by other RV owners in your area and of your type of RV. If you are new to this business then set price less than the minimum available RV.
So, if you find the minimum price for a travel trailer is $140 per night then set it up to $125 especially if there is more competition in your area.
It is better to set the base price low and also offer extras as optional add-ons, it will give the renter a better choice and you will stay in the competition.
5. Keep in Mind About The Seasons
Prices of the RV rent keep increasing and decreasing depending upon seasons. Winter is usually considered a low season for RVing in many parts of the country.
The most popular time for RVing is when you find many RVs on the road. It starts with spring and reaches its peak in June and July. It will be better if you raise the base price during high season so that you could take advantage of increased demand.
During low season it is best to lower the base price as to stay in the completion because of the low demand.
There is also a minimum rental length (it can be 3 days or more) this is the minimum period the RV is rented for. Many RV owners increase the minimum rental length to a week or more during high season.
6. Extra Amenities is Better
The more amenities you provide to the customer the better things such as camping chairs, tents, extra generators, utensils, and others. These things attract renters because they will feel relaxed if they do not have to bring these things on their own. Providing essential kitchen accessories will make a huge difference.
Many renters do not like restrictions on mileage and will prefer to pay more to have unlimited mileage on their trip. It is better to offer unlimited mileage for a fee so that it does not become a new burden on the customer.
7. Keep Your RV Clean
Who doesn’t like clean space! It will be best to clean the RV between your rentals because the renter expects a clean RV. For cleaning, you can set a fee in your listing and can hire a professional to clean the RV or do it yourself. Doing it yourself will save good money as generally RV owners set the cleaning fee above $100.
A clean RV will also help you to get good reviews from the customer which will help to attract more customers in the future. Yes, there is a review system where the customer and owner give a review to each other.
It helps the next renter to evaluate your RV and services of the RV owner and it also helps you to judge the next customer who had previously rented an RV from other owners. So, if you see a remark that the next possible renter mishandled the previous RV you can say no to them.
8. Be Responsive
Whenever a renter inquiries about your RV, respond fast. It can be a no or yes but the response timing matters. When a renter search for an RV, the listing from the responsive owners appears higher in the search results.
Outdoorsy is one of the largest peer-to-peer RV rental marketplaces and with good customer reviews and consumer review websites such as TrustPilot and Better Business Bureau (BBB). Outdoorsy has an excellent review from TrustPilot and A+ rating for BBB.
Read Some Successful Owners Stories From Outdoorsy
Facebook group Outdoorsy RV Owner Community where you can meet other RV owners. It is a group of RV owners who have listed their RVs online for renting purposes.
Sharing your RV is a good way to make a steady and good income, and you will love it after some rentals. Yes, there will be ups and down in it but overall you will gain.
It all depends upon the attitude and motivation so, What are you waiting for List Your RV Today!
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Tanmay Sarkar is the person behind writerzmag.com. An RV enthusiast, lover & admirer. Whatever I learn about RVs and RVing, I share it on this blog. Learning is a lifelong experience and it should be shared with people who have the same hobby and love as you… This blog is and shall be for the people who love and want to know about RVing…