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It’s a well-known fact that having a successful side hustle that secures you a regular second stream of income is a great way of increasing your financial stability and affording yourself more freedom and security in your day-to-day life. Often, when people think of side hustles they think of online freelance work, but what about considering the potential profitability of assets you already own?
RVs are in consistently high demand, with lots of people looking for opportunities to get out on the open road and explore the world with the comfort and convenience of a mobile home. While that’s always been the case, demand for RVs has skyrocketed since the pandemic began. If you own an RV, renting it out to other travelers could be a great way of securing an additional stream of income.
Here, we’re covering how to rent out your RV, including everything you need to know about how to rent out a camper.
How to Rent Out Your RV and Why Its a Good Idea
Renting out your RV is a great way of securing an additional stream of income. An RV can be a sizeable investment and by renting it out you’ll recoup some of the costs that may have gone into purchasing, renovating, or maintaining the RV.
Most RV’s spend a considerable amount of time sitting dormant on driveways or in garages. By renting out your RV to other travelers, you can really get the most out of it all year round, earning you plenty of extra cash and enabling others to make their own great memories in the process.
Of course, there are several things you’ll need to think about and consider when thinking about how to rent out an RV and if it is the right choice for you. Lots of people are reluctant to rent out their RV and it’s easy to understand why. Often, RV owners are concerned about the possibility of the vehicle or camper being damaged or stolen by a renter. They might also worry about the logistical aspect of renting it out and the costs that may come along with it. However, there are several measures you can take to minimize the risks associated with renting out your RV and maximize the rental income potential.
Below, we’re going to provide all of the information you need when it comes to how to rent out your RV. You’ll be able to decide if it’s a good choice for you and if so, how to do it safely, efficiently, and with the highest potential profits.
How Much Can You Earn From Renting Out Your RV?
First up, let’s take a look at how much money you can earn by renting out your RV, since this is likely to be the most prominent incentive for renting it out in the first place.
According to RVshare, some RV owners are earning as much as $60,000 per year simply by renting out their RV regularly. Now, it’s important to note that these figures are based on the most luxurious and spacious RVs listed with RV Share, so we’re talking about their top earners here. However, this gives a good indication of the potential profitability of renting out an RV and just how lucrative this side hustle can become.
Most Class A RVs are available for rent at rates of between $200 and $300 per night, so by renting out your RV just once per month or a few times per year, you could earn yourself a sizeable amount of money towards future repairs, renovations, savings or just general daily expenses. Whatever your incentive; securing a second stream of extra income is never a bad idea.
It’s also critical to note, however, that there are numerous different costs that need to be covered by the RV owner when renting out their campers or camper vans and these will reduce your profit margins somewhat.
These include things like commission fees which will need to be paid to any listing sites you choose to use to advertise your RV. These are typically somewhere around 20-25% of the total reservation cost.
You’ll also need to pay any insurance fees for liability coverage to make sure you and your RV renters are adhering to any legal requirements and are fully covered in the case of an accident, theft, or damage.
Maintenance and repairs should also be factored in. If the RV is damaged or if general wear and tear mean that some renovations or repairs are needed between reservations, these will need to be dealt with. You’ll also need to ensure the RV is thoroughly cleaned between uses.
You might also need to pay for the storage of the RV. Of course, if you’re storing the RV at home, you won’t need to worry about this, but lots of people choose to use storage units for added security and convenience. Storage fees may set you back upwards of $1,500 per year.
With all that being said, shopping around and looking to online forums for advice can really enable you to minimize your costs and find the best deals, meaning you can maximize your profits and make renting out your RV a super lucrative side hustle.
How to Rent Out an RV: Things to Consider
Aside from the costs and potential profit margins, there are some other things you’ll need to consider when it comes to renting out your RV safely and legally.
Terms and Conditions
It’s essential that you establish clear terms and conditions prior to renting out your RV and communicate these effectively to the renter. These might include things like the number of passengers allowed on board, the mileage allowance, and any legal formalities which will vary from state to state, such as the minimum age of drivers.
By setting out these terms and conditions, you give yourself some extra peace of mind and establish a clear code of conduct between you and the renters. If you don’t feel comfortable with someone taking off in your RV for a mammoth cross-country road trip, rule this out in your terms and conditions and save yourself the worry and stress!
Keeping Your Renters Happy
In exchange for them adhering to any rules and regulations you set out, it’s also important that you aim to offer the highest level of service to your renters.
This might mean being on call to respond to any questions or queries while they’re renting the RV or using a highly reputable customer service provider to take care of this for you. It might also mean providing a small welcome basket or some basic refreshments and necessities for your renters. Keeping the RV clean and presentable is also critical and will encourage renters to use your services again and recommend you to friends and family.
Remember that you’re running a business here, so you must strive to offer the highest quality experience for your customers in order to increase demand and maximize your profits.
Reviews are essential on many platforms. You’ll want your renters to be as happy as possible so you’re likely to get a five-star review or rating, which ultimately leads to more money for you.
Size and Cost-Effective Interior Decor
Another thing to consider when renting out your RV is being tactical and strategic about your interior decor choices. Some RVs are more niche in style, while others are more classic and widely palatable. Whatever your interior decor style, your renters will be expecting the RV to be fully functional and well cared for.
So, while you might not be in a position to break the bank paying out for the best quality interior appliances and decor, try to make sure your RV’s interior is finished to a high standard and working properly at all times. Often, this can be as simple as a thorough deep clean, which comes without much extra cost.
It might also be a good idea to rethink the way your RV is laid out to really make the most of all of the space and boost your potential profits. Bunk beds or convertible furniture make it much easier to fit in more sleeping space and rent to larger numbers which will, in turn, increase your reservation fees and earn you more money. Investing in an awning and some basic foldable outdoor furniture can also let your guests make the most of any outdoor areas and create a more spacious feel to even the most compact RVs.
Work with the space and the resources you have but keep your renters’ needs as well as your own preferences in mind when carrying out any renovations to increase your RV’s demand and bump up your earnings.
How to Rent Out My RV
The final thing to consider about how to rent out an RV is how best to advertise your RV and connect with potential renters. Because RV rentals are in such high demand, there are several platforms that let RV owners market and rent out their RVs easily and efficiently. We’ll take a look at the top platforms here.
RVshare is a highly reputable and trusted peer-to-peer platform that lets RV owners advertise their RVs and connect with potential renters. They have a hugely varied inventory and are the largest RV rental marketplace in the US, operating in 49 states.
It’s free to join RVshare and you’re able to set your own prices and terms and conditions. Because RVshare is the largest marketplace, you have a great chance of finding a suitable renter through the site.
RVshare also offers one-on-one rental coaching delivered by their team of experts that will help you to set up your listing, manage your rentals, and will answer any questions you might have about how to rent out a camper or recreational vehicle.
RVshare will handle any payments and deposit these directly into your bank account. Their RVshare Rental Coverage provides a high-quality insurance policy for renters and owners and each RVshare renter is verified, so you know exactly who you’re renting your RV to.
There’s a huge range of services provided by RVshare and they really are one of the best options when it comes to rental platforms. They typically keep around 20-25% of your reservation price as the fee for using their platform.
Like RVshare, Outdoorsy verifies all renters and offers extensive rental insurance protection up to $1 million, so everyone is completely covered for almost any situation. Outdoorsy has a 24-hour customer support team for both renters and owners, as well as roadside assistance whenever it’s needed.
Creating a listing with Outdoorsy is very simple and lets you set your own rates and maintain full control over your rental terms and conditions. Their user-friendly owner app lets you control and manage any bookings and queries easily in one place, making renting out your RV super straightforward.
Listing your RV with Outdoorsy is free and they will take a 20% transaction fee from each rental payment.
RVezy claims that RV owners can earn as much as $1,400 per week by listing and renting out their RV through the RVezy platform.
List your RV on the site and set your own rates, availability, and any add-ons such as delivery and charges. Prospective renters will then contact you through the RVezy site to request bookings, which you can then either accept or decline. It’s an extremely straightforward process from start to finish.
Like RVshare and Outdoorsy, RVezy offers extensive liability insurance coverage, roadside assistance, and comprehensive advice from skilled customer service agents. There’s also a dedicated RVezy Facebook Group where you can ask and answer any questions and be a part of a wider RV owners’ community.
RVezy provides screening and renter verification for additional security. The mobile app is easy to use and lets owners manage bookings, update listings, document inspections, and communicate with renters. Again, listing with RVezy is free of charge, although they will take a 20% transaction fee of the overall rental price.
Pros and Cons of Renting Out Your RV
Now that we’ve collated all the necessary information about how to rent out your RV, let’s weigh up the potential pros and cons of renting out your RV to establish whether or not this appears to be a good option for you.
1. Allows You to Turn an Unused RV into an Income-Generating Asset
As we have said, RVs are a great investment and provide owners with the freedom to travel whenever they choose, but they often go unused for large periods of time while work schedules or other commitments take priority. During this time, renting out your RV could earn you some extra cash and enable you to make full use of your RV all year round. Instead of sitting in your driveway, the RV becomes a powerful income-generating asset that puts money in your pocket. This income helps to offset the purchase price of the recreational vehicle.
2. Doesn’t Require a Lot of Time or Effort
Renting out your RV using one of the rental platforms listed in this article is super easy, straightforward, and time-effective. It takes very little effort beyond taking some initial photos, creating the listing on a peer-to-peer rental platform, and then responding to and managing any bookings. It can be done alongside other commitments and is very flexible, making it a perfect side hustle.
3. Great Income Potential
Finally, the potential profitability of renting out your RV is a great incentive. With many RV owners earning upwards of $40,000 per year simply by renting out their RV, it makes perfect sense to consider this as a legitimate, lucrative side hustle.
4. The Option Exists Throughout the U.S.
Whether you live in a major city or a rural area, renting out an RV is an option for making extra money. This side hustle opportunity is not dependent on your location. It’s possible to have a side hustle or rental business and get booking requests just about anywhere.
1. It Can Be Stressful
Understandably, lots of RV owners are extremely protective of their RVs. After all, an RV is an expensive investment and one that requires a considerable amount of upkeep. It makes sense that owners would feel a little anxious or nervous each time someone else drives away in their camper or travel trailer. With that being said, though, platforms like RVshare, Outdoorsy, and RVezy offer so many measures that increase security for owners and protect the RVs listed on the platforms that most worries or anxieties can be set aside.
2. Requires Business-Mindedness
Like most side hustles, starting an RV rental business will require you to operate as a business, setting your own prices, and terms and handling day-to-day operations like managing bookings and responding to customers. While this isn’t likely to be super time-consuming (unless you’re looking to start a rental company with a fleet of RVs) it will call upon certain business skills. Luckily, each of the rental platforms listed in this article offers extensive support and guidance to RV owners to make this much easier.
Final Thoughts on How to Rent Out Your RV
Renting out your RV is a great way of generating a second stream of income and monetizing a sizable asset that you already own. Using the information and tips listed in this article, you should be able to make an informed decision as to whether this is a good option for you. And if you decide to move forward, you’ll know how to rent out your RV and get your first booking by following the tips covered here.
Learning how to rent out a camper is well worth the small amount of time and effort required since you’ll be able to earn a nice passive income with this side hustle.