The RV industry is growing by leaps and bounds –so much so that it’s turning into a multi-billion dollar industry (The outdoor recreation industry as a whole has surpassed $1 trillion). With “RV life” entering the public conversation, more and more people want to dip their toes in the pool of RVing. Some aspiring full-time RVers want to experiment with the van life phenomena before taking the leap themselves. Either way that’s more people looking to rent out an RV for short and long term.
And you’ve decided it’s time to capitalize on that demand. But how to rent your RV is a whole process in itself.
You need to…
- Determine the demand for your RV type.
- Get it renter-ready
- Choose the best hosting platform
- Research price points,
- And manage their expectations for an awesome RV adventure.
Let’s walk through these steps for “how to rent out my RV”, so you can get yours on the market and maximize your earnings.
First, Understand the Rental Market as an RV Owner
Thanks to the rising popularity of experiential travel, road trips, and camping among millennials and families, RV owners are presented with a golden opportunity to maximize earnings by renting out their RVs.
But not all RVs are in high demand. So before you go all in on this business venture, make sure your RV is something that consumers in your area want to rent.
Research other rentals in your area on sites like Outdoorsy, RVShare, Hipcamp, and the Dyrt. See what the common rentals are to verify there is a demand in your area.
After you’ve established that there is a demand, find the gap. The gap is where demand and scarcity meet.
In your area, there may be a lot of camper vans available for rent, but it’s possible none of them have a hitch to tow along extra toys. That added amenity fills a need that your renters may have, making you the obvious choice when it comes time to book an RV for the weekend.
Once you understand these trends and identify the gaps your RV rental business fills, you can develop a sound rental strategy.
Prepare Your RV for Renting
Once you’ve assessed the market, it’s time to roll up your sleeves and get ready for company! That means taking care of maintenance, adding unique amenities, and creating a compelling listing that entices potential renters. Here’s where you start.
Maintenance and Repairs
Time to fix all of those little things that you – as the owner – overlook:
- The latch that doesn’t latch right,
- the squeaky hinges,
- the crooked cabinet door.
- the sloping floor…
No one wants to stay in a place that feels like it’s slowly falling apart. Put your best foot forward and get your RV in tip-top shape.
Conduct regular maintenance checks like inspecting and changing the oil and other fluids, and carrying out pre-trip maintenance to avoid any trip interruptions for your guests. Keeping your RV well-maintained is how you can promise a hassle-free vacation to your renters.
What Amenities Are Worth Adding?
Renting an RV goes beyond the ride; it’s about the entire experience. And you can enhance that experience by stocking your RV with unique and helpful amenities. There are simple kitchen essentials like sharp knives, spatulas, pots, and skillets which many renters expect now.
And then there’s the really cool stuff you can include, the stuff that will take a road trip from fun to epic. Don’t limit yourself, but do think about what attractions are in your area and what extras your renters could use.
Are you on the coast? Consider including a kayak, paddleboard, or surfboard with your rental.
Are you close to the dunes? Keep a couple of dirt bikes in good repair for your renters to enjoy.
Are you appealing to an upscale crowd? Consider making ATVs, a golf cart, or jet skis available for use.
Adding unique amenities makes your RV rental that much more attractive to potential customers, driving more booking requests your way. But be careful not to over-invest. Seriously consider your area, your renters, and the best amenities for them to use.
A Picture Is Worth a Thousand Words
Before anyone considers renting your RV, they’ll look at the pictures. With your RV detailed and ready for renting, take high-quality photos that capture all the best parts of your RV.
If you’re not a decent photographer, consider hiring someone to do this part for you. It’s a little thing that makes a huge difference.
Choose the Right Platform to Host Your RV Rental
Now, it’s time to choose the right platform to host your RV rental. Several platforms host RVs for renting. You want one that highlights the main benefits of your RV.
Here are some platforms that host RVs:
- AirBnB
- Vrbo
- Hipcamp
- The Dyrt
These are the sites that specialize in RVs.
- Outdoorsy
- RV Share
- RVezy
- Good Sam Rentals
These platforms don’t just help you connect with potential renters but also provide commendable benefits.
When assessing these platforms, you want to consider:
- How much traffic does the platform receive?
- What are people looking for on this platform? Are they likely renters for my RV?
- Does my rental fit – or exceed – what is already on the platform?
Once you’ve chosen a platform, set up an account and craft a compelling listing. As much as you might like to wax poetic about all the work you’ve put into the camper, don’t. Focus on the benefits your camper offers to the renter. And include practical information like how many people it can accommodate.
A well-crafted listing description (coupled with quality photos) can leave a lasting impression on potential renters. Before long, they’ll be daydreaming of a memorable vacation in your RV.
Set the Right Price for Your RV Rental
To determine the appropriate price, you need to consider the location of your RV, the amenities you offer, and the demand in the market.
Research similar listings so you get a fair idea of what to charge. Keep in mind that location plays a crucial role in determining the rental price.
When you’re first starting out, it’s a good idea to price yourself on the low side of your market. Once you get a renter, make sure you overdeliver with stellar service, so when they’re prompted to leave a review, they’ll leave five-star feedback. Then, once you’ve built a reputation through reviews, you can increase your prices.
Once you’ve researched listings, map out the high and low seasons for your area, and adjust your pricing accordingly.
Manage Renters’ Expectations with a Thorough Orientation of the RV
Your responsibilities don’t end with handing over the RV keys. Remember your renters don’t own an RV, so they may not know how to park it, set it up, level it, etc. But you can make learning the operations easy for them.
Here’s how to conduct an effective orientation.
Walkthrough: Demonstrate all the setup and allow the renter to familiarize themselves with the RV’s features and operation. Point out key features like slide-outs, bathrooms, and the added amenities you provide.
Test Drive: Following a walkthrough, take a quick test drive to give the renters hands-on experience, making them feel more comfortable and confident. Before the test drive, ensure all safety checks are in place, and everything is in perfect working order.
Safety Procedures: Ensuring your renters’ safety should be your top priority. Show your renters where essential safety equipment like fire extinguishers, flashlights, and first aid kits are stored. Make sure to explain how each of these works, so the renters know what to do in case of an emergency.
Roadside Assistance: Roadside assistance is a safety net that every renter appreciates. It provides them with a sense of security, knowing that help is just a call away. Both Outdoorsy and RVShare, provide roadside assistance as part of their insurance coverage.
For added peace of mind, ensure your renters have your contact information in case of emergency. Clear communication before, during, and after the rental can help your renters feel safe and cared for.
Do I Need RV Insurance and Liability Coverage?
Insurance and liability coverage both serve as a safety net for both you and your renters. RV rental insurance is a temporary coverage that provides protection for damages inflicted on the rental RV. Depending on the policy, it can cover:
- Collisions
- Fire
- Theft
- Vandalism
- Third-party liability
While most rental platforms provide at least the state minimum liability insurance, it’s advisable to consider additional coverage for sufficient protection. Proper handling of insurance and liability coverage ensures peace of mind for both you and your renter.
Where Do You Store Your RV Rentals?
The final thing to have in place (before accepting your first rental) is a safe place to store your RV when it’s not being rented.
Your travel trailer is no longer just a luxury item that you use a couple of months out of the year. It’s a money-making capital that you need to protect when it’s not in use. So find a place to store your RV that is…
- Safe
- Protected from the elements
- Close to home
- and affordable
That’s where Neighbor can help.
You can rent a 10’x30’ or 10’x40 storage unit, a commercial-sized garage, or a covered parking stall for RVs by searching Neighbor’s peer-to-peer marketplace.
Neighbor offers safe storage solutions that are close to home and budget-friendly. That way, you can keep your RV protected in between rental customers.
