Can You Make Money From Renting Out Your RV?
If your RV is just sitting in storage, it doesn’t matter the reason. If it’s there, you’re missing out on a huge opportunity to make some extra cash. So, is renting out your RV profitable?
Imagine you’ve just returned from an epic three-month road trip across the US in your brand new RV, and you’re ready to spend some time stationary at your house. Or maybe the kids have just started back in school, so your trusty trailer will be hanging out in the garage for awhile.
Instead of letting your RV sit dormant and unused when you’re not using it, let it live out its destiny by taking others on the same epic adventures it takes you! There are plenty of websites that make it super simple to rent out your recreational vehicle.
We have good news for you: renting your RV is profitable!
Factors that affect your RV’s rentability
Many factors will affect how much money you can make when renting out your camper. Considering that leaving your RV in storage will cost you money regardless, it will be profitable to rent it out even if you’re not fully booked.
Any extra income is good, right? You may make enough extra cash to cover storage costs, your monthly RV payments, or even make more in the long run than you would by selling it!
The main factors that will affect your potential income are the:
- Type of camper you have
- Season
- Demand in your location
Higher-end, larger RVs will be able to rent out for more than an older travel trailer, and the more features and amenities it has, the better. In addition, recreational vehicles that have unique vibes, or appearances that stand out from the crowd, increases your chances of rentals.
You will also want to consider what time of the year you will post your camper for rent. The summer sees higher demand for RVs when the weather is warm and kids are out of school. Larger cities with higher populations and areas near popular camping destinations will also increase your potential market.
How much money can renting out your RV bring in?
It’s hard to say precisely how much you can make with so many considerations involved, but some of the websites for RV rentals can help you estimate your potential earnings. For example, Outdoorsy estimates earnings up to $50 per year based on the year and type of rig you have.
Some of these websites claim that renters can earn up to $40,000 or $60,000 per year! On average, most campers can charge around $100 per night for a trailer or camper van and up to $200 per night for a Class A motorhome. That means even if you only rent your rig out for about eight weeks of the year, that can bring you around $5,600 to $11,200 per year. That’s a nice chunk of change!
Where to rent your RV
There are a few peer-to-peer websites that make renting out your RV more effortless than ever. While you could still go the old-fashioned way and market it yourself, you can reach a much larger market of renters by using one of these sites.
While they do usually take a cut of the rental price, they offer benefits like handling transactions, insurance, and roadside assistance.
Outdoorsy
- Profile setup: Just add photos, a description, and location of your RV.
- Fees: It’s free to list your RV. A small transaction fee is taken from each successful booking.
- Insurance: $1 million liability insurance policy covers your RV or trailer whenever it’s being rented. You’re also covered for theft and damage subject to our policies.
- Roadside assistance: Free, included with all rentals.
- Help for renters: The Outdoorsy customer support team helps all RV owners and renters on the platform — by chat, email, or phone.
- Profile setup: Take control of your rental by determining rates and availability and reaching millions of renters per year.
- Fees: A commission is charged based on rental price and fees, but it varies for each individual owner (approximately 25%.)
- Insurance: Liability coverage up to $1 million.
- Roadside assistance: Free roadside assistance is included for all rentals.
- Help for renters: They offer one-on-one coaching, an owner’s toolkit, and a help center to assist owners.
Things to keep in mind if you rent out your RV
Here are three things to keep in mind when you’re renting out your RV to make some extra cash.
Hidden fees
Whichever website you decide to list your RV on, make sure you fully understand any and all fees that you may be charged.
Other hidden costs aren’t associated with the rental sites but rather with the upkeep of your camper. Don’t forget about storage, oil changes, routine maintenance, and other repairs. Renting out your RV can mean additional wear and tear on your rig from more use or people not being as careful as you would.
Renting takes work
Making money by renting your RV does take some time and effort on your part. You need to keep the rig in proper order, whether that’s cleaning after a rental or handling mechanical issues.
You will also have to coordinate with renters by answering questions, accepting reservations, and delivering your camper.
Inexperienced renters
Many of the people interested in renting an RV are first-time users, which means they don’t know how to drive or operate a recreational vehicle. You might need to spend some time with them to show them the ropes or answer questions once they are already traveling.
In the worst-case scenario, a renter may damage your trailer through improper usage. Feel free to be picky and reject potential renters with red flags.
So, is renting out your RV profitable?
So, is renting out your RV profitable? Probably! Depending on where you live and what type of RV you have, you can make a pretty good chunk of cheddar by renting out your rig.
If you aren’t using your RV during the prime time for renting (the summer season), then you can keep your books open and keep the rentals rolling in.
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I’d love to make the extra money. But worries about how renters will treat it, be it ignorance or lack of concern, keep me from doing this. In the long run, the extra money isn’t worth the potential headaches.