The Airbnb craze spilled into the RV lifestyle. It’s easier than ever to rent your RV as a side hustle and earn extra money. But is it safe to rent your rig? Is “peer-to-peer” RV rental a wise idea? In this article you’ll learn:
- What peer-to-peer RV rental services do
- How to make money renting your RV
- Pros and cons of renting your RV w
People Want to Rent Your RV. But Should You Let Them?
When RVs became the hottest socially-distanced vacation trend during the pandemic, a 24 percent increase in American RV sales followed. Millions of first-time RV travelers bought new and used motorhomes, trailers, and camper vans. But many RVs now sit in storage or driveways and The RV and boat storage industry is booming. If you are one of the millions of RV owners with an unused rig, maybe jumping into the peer-to-peer RV rental pool is right for you.
Peer-to-peer RV rental services make it easy to rent your RV to travelers.
Thanks to the COVID-19 pandemic, RV travel is more popular than ever. Today, many people are “RV curious” and want to see what the lifestyle is like. Some want to start full-time RVing. But if they don’t have the money to buy an RV, or just don’t want to commit, renting an RV is the next best thing.
The peer-to-peer RV rental concept is simple. RV rental companies RVShare and Outdoorsy operate in the same way that Airbnb and VRBO do. As two of the best private RV rental sources, they act as brokers between peers. Those peers are RV owners like us, and prospective renters who want to try one on for size.
RV rental companies can:
- Help you create a killer RV for rent listing that gets noticed
- Set you up with a high quality RV insurance to cover you in any situation
- Carefully screen for qualified renters who can handle your RV
- Pay you directly once the current RV rental period is over
After you’ve listed your RV, potential renters submit a rental request. You are never under any obligation to rent your RV to anyone. If the renter’s schedule, payment, or other factors are not a match for you, just decline the application. The renter gets politely notified and moves on.
RV rentals can be a win-win for everyone. Anyone with a camper trailer, motorhome, or van that’s sitting idle can earn extra money on a rig that would otherwise go unused. And RV renters win too. They can enjoy the RV lifestyle, without the high cost of RV ownership.
The Pros and Cons of Renting Your RV
Deciding to rent your RV can be lucrative. But if you think a DIY RV rental ad of your own is more profitable than going with an RV rental company, think again. RVShare and Outdoorsy can find more people who want to rent your RV. They also minimize your risk and hassle of screening the people who will drive your RV. Many pros and cons of renting your RV exist, such as:
Pro: Make extra money
If you have a home on wheels, you can make money from it. RVshare says interest in RV rentals has skyrocketed 650% since 2013. The greatest benefit to rent your RV is the extra cash.
Pro: It’s free and low risk for owners
RVShare and Outdoorsy make it free and relatively low-risk to list your rig. They check for scammers, broker the deal and handle the paperwork for a small fee. The best part is that you can review rental applications before you commit to rent your RV.
Con: New RVs make more money, old RVs make less
How much you get for your RV rental depends on the type and condition of your vehicle. Your location and seasonal factors also impact your revenue.
Con: Your RV gets treated like a rental car
It doesn’t matter if you’re discussing an apartment or Airstream rental. The fact is that a renter doesn’t have the same emotional or monetary investment as the owner. Your RV may get beat up. A renter could ruin your RV batteries or blow up your RV solar power inverter.
What’s your risk tolerance?
Many things can go wrong with an RV under ordinary circumstances. When you decide to rent your RV to another person, it might not work out as you had hoped. You’ll have to decide if the money you can make from renting it and the RV insurance policy cost is worth the risk. Based on the growing RV peer-to-peer rental marketplace, it seems many RV owners are good with it!