For the price tag, every RV owner wishes they could get just a little bit more about of their purchase. Thanks to companies like Outdoorsy or RVshare, renting out your RV is a great way to make easy, passive income through the shared economy.
If you own an RV, you know it spends more time parked outside than it does on the road. That’s not to say the RV wasn’t a good purchase. A motorhome is an amazing way to explore the country. Plus it gets you out of a cold tent. Today, your camper doesn’t have to stay parked on the side. It can make you money in between your trips.
Only 10 years ago, no one could imagine letting a stranger into their home or renting their car. Now, however, companies like Airbnb, Turo, and now Outdoorsy help home, car, and RV owners make additional money. Time has proven that the idea is safe and attracts a great community of responsible individuals.
Whether you’ve heard of the idea before, you have to wonder, is renting out my RV a good idea? And, if you’re thinking of buying an RV, you may wonder, can I relieve some of the expenses through the shared economy?
Benefits of renting out your RV
- Passive income with little work – You can make $80 – $350 per night from renting your motorhome. That could pay for a family vacation to Disneyland. You get to go to the happiest place on earth and your renter gets to explore the country. Win-win.
- Subsidize the RV purchase – Justifying an expensive toy to only use a few times a year could be hard. After renting it out for four days a month for a year, you could earn enough to pay for half the cost of a $20,000 trailer.
- Pay your insurance and maintenance costs – Even occasionally renting out your RV can pay the annual insurance, maintenance, and other costs associated with recreational vehicle ownership.
- Meet others and facilitate memory-making – A great part of the shared economy is meeting like minded people. You’ll get to know fellow outdoor or travel enthusiasts. Plus, you can help others create their own fun memories.
- Remove clutter from your home – When your RV is rented out, you free up your RV pad. If you’re considering buying a trailer or RV but don’t have the room, can find cheap RV storage down the street. Keep your space for other outdoor equipment.
How much can you actually make?
Renting out your RV on a marketplace like Outdoorsy is a quick and easy process. It’s like planting a money tree in your backyard. Some vehicle owners have reported making over $5,000 in one year by renting out their Class A motorhome just four times. This almost covered their annual RV payment.
Depending on your location and vehicle, you can rent out anything from a camper van for $70/night to a brand new, 38-foot RV that sleeps 10 people for $400/night. You can get an estimate of how much you could make with Outdoorsy’s listing calculator.
Remember that Outdoorsy and RVshare take a slice of your reservation fee. Outdoorsy pockets 25% off every registration. If your RV or trailer gets rented out for $200/day, you’ll actually walk home with $150/day.
Will your RV be protected or insured when renting it out?
Outdoorsy offers owners up to $250,000 in comprehensive and collision insurance and RVshare offers up to $200,000. Both companies provide up to $1 million in liability coverage.
This means that whether your travel trailer gets struck by lightning, your popup camper gets hit by another vehicle, or your renter burns themselves cooking a gourmet meal in your 2019 luxury motorhome and sues you, you’re covered when your RV is rented out.
In addition to insurance, these companies provide other protections and screenings to help keep you and your vehicle safe. These include DMV checks for your renters, 24/7 emergency roadside assistance, renter security deposits, and customer support teams if you have any issues.
How easy and convenient is renting out your RV?
If you’re new to shared economy hosting, there can be a little learning curve to figuring out the platform. Both Outdoorsy and RVshare make it easy to figure out and will support you along the way. They’ll help you handle the scheduling but it’s still on you to clean, prep, and hand over the RV to your renters.
Another benefit is that RV owners call the shots. You get to pick the rental rates, you decide who you let rent your vehicle, and you decide how many times you rent it out. RV owners love the freedom these marketplaces provide.
Conclusion: So is renting out your RV worth it?
As long as you’re comfortable trusting strangers to use your trailer, camper, or motorhome, renting out your RV is definitely worth it. You can quickly recoup all costs associated with purchasing and owning an RV. Modern platforms, like Outdoorsy, make it relatively easy. Plus, these platforms make it feel like you are renting to your trustworthy friends. Every user has a profile and reviews, automatic insurance, drivers license checks, and more.
For all the benefits Outdoorsy or RVshare provide, it may even be worth it to buy several motorhomes or campers, find some affordable RV storage, and start raking in the dough!
Have you had any experience renting out your RV on these or other platforms? Would you rent your vehicle out to strangers?