Trust us, we get it. Once you start harnessing the earning power of renting out your motorhome on RVshare, it’s hard not to wonder what would happen if you had not one, but two vehicles to work with. Heck, maybe even more than that.
And if you want to pursue this business model, we say: more power to you! It certainly can be done, and with the average RVshare owner pulling in at least $5,000, and up to $30,000 annually with one RV, it might be a fantastic way to make a living in only a few hours each week.
But if you’re considering starting up your very own private RV rental fleet, there are some things you need to think about first. For example, consider the overhead costs you’ll need to foot to outfit your rental vehicles with basic amenities, like bath towels, kitchen gear, and bedclothes — not to mention the decorative touches like throw pillows and candles that really make vacationers feel at home.
To say nothing of the vehicles themselves. If you’re going to buy multiple RVs, chances are, you’ll be purchasing used motorhomes — which means you need to have a careful eye out for maintenance issues, unexpected repairs, and other maintenance issues.
But don’t worry: we stand behind this smart and simple business model, and we’re here to help you suss out all the potential complications ahead of time.
So, ready to get serious about your RV rental business? Let’s go!
Private RV Rentals
First things first: What makes private RV rentals different from big, commercial rental dealerships? In other words, what are the differentiating factors that draw campers to your vehicle instead of one on a traditional rental fleet?
At RVshare, we know the answer has a little bit to do with pricing — private owners can generally afford to list their rigs for less than the big guys can, and they generally don’t charge annoying hidden fees that drive up the bottom line.
But another reason renters are drawn to the peer-to-peer market is a lot simpler. It’s the personal connection they feel to RVshare renters and the comfortable, homey feel of the vehicles they find listed here. Most RVshare vehicles are actually vacationed in by their owners from time to time, which means they have that loved, lived-in sensation that’s hard to fake or duplicate — so if you’re purchasing rigs specifically to rent out, you’ll need to pay close attention to those little details.
As we said above, that means outfitting each of your rental rigs with the basics, like comfortable sheets, fluffy towels, cozy blankets, a simple set of pots and pans, cutlery, and maybe some simple decor. (Throw pillows are an obvious example, and candles are hard to beat — but be careful with the scented ones. Some people have exceptionally sensitive noses!)
None of these items may cost much on its own and you probably won’t have to invest in them very often — but when you have to outfit multiple RVs, the expenses can add up quicker than you think!
Of course, extras and amenities are only a small portion of the overhead price you’re facing. You need vehicles! And unless you’re already rolling in dough, it makes the most sense to buy used RVs, whether you’re looking for vacation trailers, small pull-behind campers, or motorhomes.
Otherwise, you’ll be wasting a significant percentage of your purchase price on depreciation as soon as you drive your brand-new RV off the dealership lot — even with RVshare’s high earning potential, that just doesn’t make good economic sense!
RV dealers often have some pre-owned vehicles available on their lots, but one of your best resources for finding used campers for sale will be scanning sites like RV Trader and Craigslist to see what’s available from private owners in your price range. While you certainly want to look for affordable vehicles, if you go too cheap, you could run into maintenance issues — after all, even with well-kept documents and vehicle history, you don’t have the whole picture about what the vehicle has been through.
That’s why it’s imperative to ensure you thoroughly vet the vehicle in person before you even think about signing any paperwork, especially when it comes to sneaky but highly destructive issues like water damage. Run your hands along every seam, space, and crack to check for softness or staining. After all, used motorhomes don’t usually come with any kind of warranty; they’re offered for sale as is. And if you buy cheap, you might just get what you pay for.
RVs for Rent By Owner
The good news is, if you’re ready to foot the overhead cost to get your RV rental fleet started, you’re facing incredible earning potential with relatively little work. Yes, you’ll need to manage the listings, set prices, communicate with renters, create and maintain a preventative maintenance schedule for all your vehicles and also thoroughly clean them between rentals. You should also consider what you’ll do for RV storage for the times you won’t have renters; even a lucrative business has slow periods, and RV storage space can quickly run up your total price tag.
But even with two or three vehicles, many renters prefer the luxury of a rent-by-owner interactions, as well as the vast array of different kinds of RVs they can find on this market. Small, specialty RVs, like teardrop travel trailers and sleeper vans, generally aren’t available from large commercial dealerships, so renters can turn to RVshare to find them. And keep in mind, too, that if you’re using your RV for business purposes, you may be eligible for special tax deductions when it comes time to pay Uncle Sam his share.
Congratulations on taking the first step toward engaging in this exciting business venture: getting informed. We know you’ve got the gumption and the commitment to put RVshare to work for you, and we can’t wait to help you in your RV rental business.
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