Can RV Rentals Make You Money?
Do you know pros and cons of renting out your RV or travel trailer? New online technology makes it possible for any private parties to connect with each other. The technology exists to easily connect RV renters with willing RV owners. It’s similar to how Airbnb connects renters with homeowners wanting short term renters.
Gone are the days when rental companies controlled all the RV rental income. Now two private parties can connect with each other. The RV owner and RV renter directly negotiate dates, terms and price.
For the owner, it can be a great way to make extra money. It beats keeping the RV in storage all winter. For the RVer, it can be the ideal and affordable way to travel. Now you can skip the hassle of an RV rental company.
This is What Private RV Rentals Look Like
The biggest RV rental companies on the market are RVShare and RVezy. Want to rent out your RV? These services make it easy to upload photos, set your price and specific terms. Renters with RVezy can travel in comfort. Both RV rental companies offer 24/7 roadside assistance. Need full insurance coverage? They have that too.
What RV Renters Can Expect
You can find virtually any type of RV for rent. From tiny teardrop trailers to 40-foot toy hauler fifth wheels. Brand new Class A motorhomes, and even vintage travel trailers are also available. The prices range from under a hundred dollars a night to nearly $600 per night. Additional fees apply, like excess mileage, excess generator usage, and insurance costs. Also, each rental requires a damage deposit from the renter.
I just gave you the overview of what RV renters can expect with peer-to-peer RV rentals. Now here are the pros and cons of RV owners renting their rigs.
What RV Owners Can Expect
The obvious advantage of renting out your RV is the opportunity to generate some extra cash from an asset that might otherwise be costing you storage fees or mortgage payments every month.
Additionally, if you only use your RV part-time and the rest of the time it’s parked on your property or it’s in storage, that idle time is not necessarily good for your RV. The batteries run down. The interior can become damp and musty, and you’re probably paying for insurance all year, even in the months when you don’t use it.
Could you rent it often enough in the off-season to forgo winterization?
If you aren’t going to use it in the winter months and it’s not in the rental pool, then you’ll probably need to winterize your rig and figure out how to protect it in inclement weather. But if your RV is being rented throughout the winter, it doesn’t need to be winterized, or tarped, or stored in a covered lot, and the extra income you receive from the rental will pay for the insurance.
Your rig will still be available to you when you’re ready to go camping but it won’t just be sitting there sucking up your hard-earned cash all those months when you don’t need it. It’s like having a vacation rental or an Airbnb rental property. You own it and you can use when you need it, but the property generates enough extra revenue that it’s not draining your reserves.
The biggest cons of renting out your RV
There are several things that need to be considered before you put your RV in a rental pool. The systems and operation of the typical RV can be quite complex. Consider the complexity of slides, and jacks, and inverters, and generators.
Some rigs have battery packs and solar panels, or detachable propane tanks or even portable generators, and there is a right way and a wrong way to utilize all of this equipment, not to mention the proper use of the gray and black water holding tanks.
We’ve owned a Class A RV since 1999. In 1999 we bought a new one. We went through the new owner orientation to learn about every system in our new rig. Eleven months later we are still discovering things about our new RV. Many were not covered in the orientation, or we had forgotten.
Are you a risk taker?
How much more bewildering would it be to someone who has never owned or operated an RV, until they climbed in your rig and drove away for the first time? That thought makes me shudder. Will they remember to close the black tank shut-off valve before taking the hose off? Will they remember to put the jacks down and get your rig level before putting out the slides, or will they remember to bring the slides in before pulling up the jacks?
The biggest downside of putting your RV in the rental pool is handing the keys to a newbie. Maybe they never towed or driven a big rig. They have no ownership interest in it. Will you let them take your valuable asset to who knows where?
If the RV is drivable like a Class A, B, B+ or C RV, this concern is magnified, because of the added width and height of some of these RVs, but travel trailers and 5th wheels also require driving finesse and a lot of care when being backed into a campsite or even maneuvering around gas pumps. Many fifth wheels are even taller than the tallest Class A motorhome, and forgetting about that extra height just one time can result in extensive damage to a rented RV.
What about private RV rental insurance?
Of course, the RV rental organizations require the purchase of RV insurance to cover both the RV owner’s asset, as well as the renter, and there is an additional damage deposit required at the time of the rental, but there may be damage you never see and that is the issue that concerns me the most.
Body damage is obvious, but the improper use of the slide controls can damage or cause a premature breakdown of the slide motors. Draining lead/acid batteries below 50%, driving long distance over washboard gravel roads, and pulling the slides in without vacuuming up the grit and pebbles that can scratch the floor, are all things that can damage your rig, but are not readily apparent when the RV is returned.
Should you rent out your RV? Here’s the verdict.
Everyone is different. People have different tolerances for risk. Adding your RV to a rental pool might be the perfect way to recoup some of your investment. I’ve read many reviews and for the most part, people seem to be happy with this arrangement.
Some people don’t want to own an RV. But many are willing to spend a few thousand dollars for a memory-making road-trip. Some people have an RV that they are not using all the time. They are happy to share their equipment with the rental population. Now the apps and technology make it possible for these people to connect.
For more information, visit RVShare or RVezy’s website to get started.
Peggy Dent is an author, writer, and full-time RVer, traveling around the US and Canada. She’s traveled more than 130,000 miles in a motorhome, over the past 20 years, and is currently writing for the RV industry. You can contact her through her website at www.APenInYourHand.com
Regarding Class A Diesel Pushers. How many really have a clue how to drive one? You do not learn how to in a day, knowing how to use the levelers, Slides, parking, towing, fueling etc. this is all high risk that it will be used correctly, as stated in the cons, you may not find the damage for months, Even with insurance on good accident and your coach will never be the same. The few $$$ you make could be nothing compared to what a slide costs to repair.
Agree 100% – all valid points. I would add one additional caveat, which is that renters seldom treat rental property with any respect. Rental house, apartment, or motorhome – makes no difference – it’s simply widely-understood human nature. Couple that with the complexity of RV systems and the real potential for damage if they’re operated improperly, and it’s an recipe for disaster.
The basic premise that renting out an expensive RV for a little income is flawed. If one has the means to acquire the RV in the first place, it’s highly unlikely they really NEED supplemental income. And, as has already been pointed out, the potential for catatrophic and possibly irreversible damage far outweighs the benefit of a few hundred bucks of rental income.
I shudder at the thought of strangers even being INSIDE our Tiffin Class A, much less actually driving it and LIVING in it.
My thoughts about renting our MH, or RVs of any description coincides with the other ‘NOs.’ Too many are not familiar with RVing, or care about rental properties.
Con: Renting may void your manufacturer’s warranty. Airstream warranty is voided for ANY commercial use!
Hell no I wouldn’t rent my 5th wheel. I see how people treat rental cars, why would a rental RV be any different? Walking through the trailer with muddy shoes, or leaving smelly crap where I con’t find it. Same way with homes and airBnB. Hell no I don’t want people in my house.
Our first year we rented out our RV and made over $26,000. It’s a great second income. I strongly recommend it. Here is a great website that may answer additional questions:
https://www.theadventuretravelers.com/list-your-rv-and-make-money/
I thought about it… for a couple of seconds, if that — absolutely NO WAY would I take that chance. I normally NEVER even loan out my tools. However, ONE time I allowed a nearby neighbor (who I had done remodeling, electrical and HVAC work for) to use one of my “older” hammer drills. I did so because he had always been a very discriminating “customer”; which didn’t bother me because I am an “Olde World Craftsman” — quality over quantity… by name referral only — we’d always been on the same page. Sooooo, when he asked, I thought he of all people would certainly take care of it as if it were his own. About a week later he came by when I wasn’t home — left it with my wife. I was certainly glad I’d “loaned” him one of my older hammer drills! In a week he made my dill — probably 10 years old — look like it’d come from a local rental store — banged up like he used the drill literally as a hammer — scratched, dented, painted knocked off all over it, even the name plate all messed up! Grrrrrrrrrrrrrrrrrrrrrr! All I could do is tell myself NEVER again! AND as others have already noted, I’ve seen how “renters” drive rental vehicles; and I’ve seen rental equipment come back in “destroyed!” NO WAY, ABSOLUTELY NO WAY would I even consider renting out our 1978 GMC Royale, nor our 2004 Fleetwood Southwind!!! FYI, my parents’ pristine Southwind was in the hands of a younger couple for about 3 years, after my Dad was no longer “safe” driving it (they sold it to them) before I got it back because they no longer wanted it. I spent over a week trying to get it cleaned up just to get on the road for 2 weeks; and then when we got back, I spent the next 2 weeks really deep cleaning it and repairing things!!! That for me was the last straw — the way they had treated a like-new RV that they had actually owned! The only possible way I might consider allowing someone else to use it would be IF they themselves had their own RV that for whatever reason was inoperable just when they needed to get on the road. At this time, I know of ONLY one individual I’d allow to use the Southwind IF in an emergency he needed it. AND in that case it would NOT be for the $$$. It would be to help a very close friend of mine — both personally and as a professional colleague. (He and his wife have had Fleetwoods for years and really keep them up like keeping an airplane airworthy!)
First I agree with all the cons mentioned above. I have owned 9 campers/RV’s since the early 1970’s, cab overs, tag trailers, fifth wheel trailers, and now on my third class A. Some were purchased new and some were purchased used. I honestly can say that I have never been on a trip with one that there wasn’t something I had to fix or deal with. Some of the issues were very minor and others had to wait until I got home and some required towing and road service.
I don’t think renting my RV is something I would consider unless I was in the business of RV rental. I don’t think RV’ing is for the faint of heart nor is towing or driving a 44’ Class A diesel pusher is for the inexperienced to rent.
I will comment as a new (not yet delivered) Class A owner that has rented twice prior. Both times renting a Class C (27′ and 24′). My most recent was a long weekend from Southern MA to NH and Vermont in the fall (4 days on 24′ Class C). I spent two one hour walk-thru familiarization sessions with the owner (rented thru Outdoorsy). I felt rather comfortable upon leaving the owners premises. Driving was no issue or big deal. I grew up on a farm. Although the owner walked through all the most important things about leveling, slides, black and gray tanks and water hookup. He did not provide a pressure regulator or filter and did not warn me about the power hookup pedestals. I had no training on battery conservation or usage. First, the RV was 30 amp and the pedestal required you to turn on all switches (30 & 50 Amp) to get any power. I went all night on batteries until next day when campsite employee pointed out the issue. The water at this North Conway campground smelled of sulfur (rotten eggs) and the high pressure caused leaks under the kitchen faucet area. I disconnected from the campground water supply and leaks stopped. Looking back on it, I do not think the owner was very experienced either. We were his first rental. All in all, I was a very good renter and was on the phone with the owner at least three times asking questions. I get all the Con points of view and I admit that I will not be renting out my new RV at least for the first 2 years. I will also say that I returned each of those RVs with no damage and as clean as when I took custody. The first was a two week cross-country trip from CA to RI and that is what “sealed-the-deal” for my eventual purchase today some 22 years later. I loved the experience. If you are very particular in taking care of and loving your RV, then renting out is not for you. If you rate the added income above the potential issues and annoyances that come with renting, then you will probably be OK renting out.