Renting Your RV: A Money-Making Guide
Is your RV sitting in your driveway begging for another adventure? Don’t fret if you don’t have time for your own adventure quite yet. Instead of letting your RV collect dust and take up space, rent it out! Renters will get a taste of adventure, and you’ll make money. It’s a win-win!
If you’re thinking about renting out your RV during your off-season, you’re probably wondering how much you’ll make and if it’s even worth it. Here is a money-making guide if you’re interested in renting out your RV.
Table of Contents
How Much Money Can I Make?
Listing your RV could make you anywhere around $25,000 per year, depending on RV class and rental frequency, among other factors. One major determining factor is your vehicle type.
Here are the average earnings on Outdoorsy by RV Class and based on a 1 to 2-week rental:
RV rental prices are significantly impacted by your RV. If you have more amenities, you can charge a higher price. And, with the right RV rental business strategy, you’ll be able to keep costs low and profits high!
When Should I Rent Out My RV?
Events and Holidays
Yearly events are the perfect time to rent out your RV. Sporting events, music festivals, and holiday weekends are popular events for rentals, especially RV trailer rentals. NASCAR, the Super Bowl, Coachella, and events such as these create high demand for RV rental. Look up similar events within your region and get ready for renters to come your way.
The Warm Months
RV renters are abounding in the warm months, especially spring and summer. With nice temperatures and the kids off from school, spring break and summer vacation RV rentals bring significant earning potential. If you’re using your RV these months, don’t worry! You can still rent out your RV during winter. You can even send it off to RV rental locations with warmer winters!
Just because it’s your off-season doesn’t mean it is someone else’s off-season. When you’re too busy to take your RV on a trip, chances are someone would love to take it off your hands for a weekend, week, even a month! Even if your off-season is during the cold, winter months, someone will likely be willing to rent your RV for a good price.
How Should I Price my RV Rental?
RV rental prices average depending on a variety of factors, including season, add-ons, rental period, and, of course, RV type. Finding the right price for your RV may take a little experimentation.
Know Your Market
Research events in your area and the surrounding areas that would create demand for RV rental. This is easy with Google and social media. Look at other RVs for rent by owners in your area and research their rates. It’s best to follow the trend of the market you’re in. One strategy is to use this information to offer slightly discounted rates to pique the bargain renter’s interest. Or you can offer more services at a higher price rate.
Offer Seasonal Pricing
Experiment with different pricing. Some owners will offer lower pricing during the busy seasons so that your listing will appear less expensive than the average. Meanwhile, others will price higher during those seasons and later create discounts to fill vacancies along the way.
Add-on packages ensure that the renter will have everything they need for a road trip or event. Some ideas are picnic supplies for National Park trips or binoculars for music festivals. Get creative!
A delivery add-on within a certain radius is another popular add-on offering that many renters will take advantage of, especially when it comes to large trailer rentals.
Set a Minimum Rental Period
This period will be unique to everyone. For example, during a busy season, you may want your renters to rent out your vehicle for at least three days. Lower or raise the period based on your vacancies. This may take some trial and error.
How Should I Market My RV?
Is RV renting your side gig or main gig? Either way, marketing is vital. And no, that doesn’t mean you have to put in tons of money into advertising your RV business. There are plenty of easy and cost-effective RV marketing strategies.
Design a Free Website or Facebook Page
Easily make a website with sites like Wix or Squarespace. This gives you a space to tell your story and build your brand in a way that encourages people to rent your RV and makes them trust you as an owner. A simple Facebook page works too!
Make a Good RV Listing
It is important that you have good listing photos and descriptive information on your page. These two things give your listing personality and establish an element of trust among renters. Include a video walkthrough tour to really set your listing above the rest. This way renters don’t just see another camper for rent, but they see what makes yours special and rentable.
Create Coupons and Connect with Locals
Foster a relationship with local dealerships in the business of truck and outdoor vehicles. They can hand out coupons to customers who’ve expressed interest in camping or RVing.
Get Reviews and Referrals
Assuming you’ve offered your renters the best experience possible, they’ll likely be willing to leave you a good review for other potential renters to see. The more good reviews, the more renter will flock your way. AND those who had a great experience may even refer your RV to their friends. Don’t be afraid to ask!
What About RV Insurance?
Do I Need to Insure My RV?
With multiple renters driving your vehicle, insuring your RV is of the utmost importance. Every state has its own insurance requirements; however, in general, if the RV is drivable, it needs insurance. If it’s towable, it’s typically not required, but certainly recommended.
What Does RV Insurance Cover?
Coverage varies, but the most common policies include:
- Liability Coverage
- Uninsured and Underinsured Motorist
- Valuables Coverage
How Do I Insure My RV?
Get a free RV insurance quote, and Roamly will use data science to develop a personalized insurance plan for your trailer, camper, or motorhome. You can save money and rent out your RV worry-free.
Is Renting Right For Me?
Like with anything, there are pros and cons to renting your RV.
Money, Money, MONEY
This is the biggest reason any owner rents out their RV. Whether you’re just looking to make some extra cash during your off-season or want to go into the RV rental business long-term, you’re sure to bring in some money. Renting your RV even just a few times could be enough to cover your yearly RV payment and then some.
Welcome New RVers
Renting your RV, you’ll be introducing people to your much-loved RV lifestyle. Seeing smiles on their faces as they get behind the wheel? That’s bound to feel good!
The Learning Curve
With any new business venture, there’s going to be a bit of a learning curve. But all you need is some time, patience, and research, and you’ll be well on your way to profit.
A Stranger Behind the Wheel
Though it can be rewarding to introduce newcomers to the RV life, it can be stressful letting someone you don’t know drive off in your RV. There is always a chance of an accident. That said, insurance will have you covered.
Rent Out Your RV & Bring in the Cash
Study the market, research the business, and you’ll be on the road to success. Renting individually or renting through a marketplace, like Outdoorsy, is a great way to get that RV out of your driveway and back on the open road, while you sit back, relax, and earn cash.
Ready to rent? Visit Outdoorsy, list your RV, and start making money!
Interested in learning more about RV classes? Read RV Classes: The Ultimate Guide.
When you’re ready to find your RV, be sure to check us out at GoRollick.com.
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