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Is There a Better Alternative to RV Rental Consignment?
This year, more than 400,000 families will buy RVs. RV ownership is hitting levels unprecedented since the 1970s and has been steadily growing over the last seven years. But while many families enjoy the benefits of their new RVs, unfortunately, there are many more that can’t afford to use them as often as they’d like. Whether due to time or budgetary constraints, millions of RVs sit in storage for most, if not all, of the year. RV owners looking to avoid storage costs seek out RV consignment programs. RV consignment can be a tricky road to navigate, and a lot of families end up paying just as much as they would pay to store their RVs. However, if you make well-informed choices, RV consignment work and can even generate some extra income. Let’s take a look.
How to Rent My RV Out – What to Expect From a Consignment Program
RV consignment became a big thing when dealerships got hip to the idea that a lot of RV owners didn’t have time to use or rent out their RVs themselves. Many dealerships already have rental programs, so it wasn’t hard for them to integrate privately-owned RVs into the lot. Now, there are thousands of RV rental consignment programs throughout the country. A simple search for RV rental consignment near me will pull up hundreds of local hits. Your options are plentiful, it seems.
But there are a few issues with the way these companies do business, and it ends up affecting your wallet. Here’s how RV rental consignment works when you go through a consignment company:
- The dealership will assess the value of your RV to see if it’s a viable option for them to take on and rent. Most companies will keep your RV in their storage facility for free, but only if your RV rents at least once that month. Their lots usually have gated security and camera systems. This may be a benefit to some owners who don’t have other means of storage, but keep in mind, if your RV doesn’t rent, you’ll end up paying for the month.
- The company does all the advertising and marketing for you. They also tend to have better foot traffic than you would get if your RV were sitting in your driveway. The number of rental opportunities you’ll get is tough to judge since it depends on the number of rental customers the dealership gets in a month. It’s tough to say if this service has advantage over self-marketing.
- Most RV rental consignment services claim that you’ll be able to access your RV whenever you want it for personal use. But since they’re the ones doing the scheduling, this isn’t always true. You’ll need to give them advanced notice if you plan on taking your RV out for a few days.
- Your RV will be included in the company’s insurance policy, so it’s covered while it’s rented or sitting in the lot. This is usually a basic policy, and the company will charge you extra to purchase liability coverage and commercial renter’s insurance. The company also requires a damage deposit from every renter, usually up to $1500 for a Class A RV, which is enough to cover the deductible in case of an accident.
- Every rental consignment company will advertise the amount of money you can make and the tax breaks you can get by renting out your RV. But here’s the thing – they take a significant portion of your rental income for themselves. Hey, someone has to pay for all the services they offer you. Most companies will take 50% of the daily rental rate, and 50% of any mileage and generator overage fees. Read that again. RV rental consignment costs half of the money generated from RV. And what if your RV doesn’t rent that month? Well, you’ll end up paying for it to sit on their lot, just like would pay for it to be in storage. You can see why some RV owners run for the hills when RV consignment companies come knocking.
RVshare vs. RV Owner Rental Programs - You Keep the Keys
The two main pitfalls of RV rental consignment are cost and control. You’re relinquishing control of your RV to someone else, while also paying them to do it! The idea seems a bit ludicrous when you think of it that way, doesn’t it? RVshare decided to do things differently. Maintaining control of your RV is important. Making a sizeable profit off of your RV is important, too. RVshare is more like a support system than a consignment company. Here’s how:
- We look at RV owners as potential small business owners. We give you the tools to rent out your RV, right from your driveway (or wherever you keep it). You’ll list the RV on our nationwide database, set your own rental and deposit rates and rules, and communicate directly with renters.
- You have a bevy of resources that keep you and your RV protected at all times. Our screening tools let you background check renters before you approve them. All parties are covered by commercial rental insurance and up to $1 million in liability insurance. We also offer 24/7 roadside assistance to renters in case there’s an issue on the road.
- Listing with us is 100% free. You can stick with our advertising, or you can do some additional advertising on your own and link to the site.Most importantly, your RV is under your control. You can block out calendar days whenever you want to use your RV, or turn down a rental if you decide on a last-minute trip – no consequences. The only time we ask for compensation is when your RV rents. We charge around 25% commission for each rental. Most of our owners make about $10,000 or more annually. Some even make more than $30,000. That sure beats paying for storage, right?
RV Rental Consignment USA – Make Money with Your RV
If you don’t get to use your RV as much as you’d like, why not think about starting a RV rental business? You’ll have more control and more income than you would consigning your RV to a company. Plus, you’ll still be able to take your rig out for a trip whenever the road calls. Sounds pretty great, right? Check out some of our owner testimonials for more information. Cheers!