Are you looking for a way to make extra income, maybe by providing an RV rental? According to the Recreational Vehicle Industry Association, over 8.9 million households own an RV, and this number only continues to increase. Many RVs sit unused in storage lots, driveways, and backyards, so why not try to make a little…
Are you looking for a way to make extra income, maybe by providing an RV rental? According to the Recreational Vehicle Industry Association, over 8.9 million households own an RV, and this number only continues to increase.
Many RVs sit unused in storage lots, driveways, and backyards, so why not try to make a little money while you’re not using your RV?
And, who doesn’t want to earn a little extra money?
As you know, I talk a lot about how to make extra money here on 1 Dollar Financebecause I believe that earning extra income can completely change your life. By learning about different ways to make extra money, you can stop living paycheck to paycheck, you can pay off your debt, and more.
Due to the fact that I learned how to make extra money, I was able to pay off $38,000 in student loans within 7 months, I was able to leave my day job in order to pursue my passion, travel full-time, and more!
Whether you just want to make more money, you have goals that you want to reach (maybe you finally want to go on your dream vacation), you have big expenses coming up, or something else, finding ways to make extra money can really help you financially.
So, if you already have an RV and you know when you won’t be using it, it’s possible that you can make extra money by doing an RV share program.
You may be able to earn some extra money by renting it out, and it may help cover some of your RV ownership costs, such as maintenance, storage, etc.
RVshare is helping travelers save money by cutting out the middleman through renting RVs directly from owners.
Think of it as Airbnb for RVs (RV Airbnb!). My sister actually has experience doing an RV share by renting two travel trailers, and she loved it! It seems like a great side hustle to do if you already have an RV. If you’re interested in enjoying an RV rental for yourself, you can check out possible RV rentals for you and your family here.
But, if you already have an RV, you may be able to rent out your RV for extra money!
While we love RVing full-time, I know that many people just use their RVs for short, fun vacations. Or, maybe you are a full-time RVer but you know that there’s a weekend or month coming up where you won’t be using your RV.
By listing your RV rental online with RVshare, you can earn between $5,000 and $30,000 a year in extra income. RVshare also securely handles all payments and releases funds to your bank account one business day after the start of each rental. So, instead of letting your RV sit idle in your driveway or storage unit, why not make some extra money with it?
RVing is becoming more and more popular, and the RV share business is definitely booming!
What kind of insurance do I need to rent out my RV?
Okay, so this is probably the first question that you may be thinking about when it comes to renting your RV.
If you are thinking that renting your RV sounds a little risky, be assured that RVshare makes renting your RV easier, as you and your renters are provided with liability, collision, and comprehensive insurance coverage with your RV rental.
Insurance coverage through RVshare extends through all 50 states and even Canada for the RV renter, the RV owner, and the RV.
As the RV owner, the insurance plan is activated on your RV at no cost to you. This is provided to you as the RV owner for free by you simply listing and getting a booking through RVshare. You get coverage during the rental period for up to $1,000,000 in liability insurance coverage, up to $300,000 in comprehensive and collision coverage (based on the value of the RV), free 24/7 roadside assistance, free towing, free tire service, and campsite liability coverage of up to $10,000.
One thing to note is that the RVshare Protection Plan only covers RVs that are 15 years old or newer, with a stated value of $300,000 or less. If your RV is older than 15 years, then you will only receive liability coverage for your RV during booking (so, you will not have comprehensive or collision coverage for your RV through RVshare).
Some things that may be covered under the RVshare Protection Plan may include: fire, lightning, windstorm, earthquake, hail, theft, flood, vandalism, contact with an animal, glass breakage, and more.
Is it profitable to rent out your RV?
Yes, it can definitely be profitable to rent out your RV.
You can see some examples below.
How much does the average RV owner make by renting their RV?
The average RV owner earns more than $10,000 per year in extra income by renting out their RV online to strangers. Some RV owners are earning more than $30,000 a year, and I even read an article where someone said they were earning over $80,000 per year by providing an RV share service.
The exact amount you can earn with your RV rental varies because of many factors, such as the type of RV and where it is located.
With RVshare, you have complete control over your pricing when you create your RV listing.
To determine what you price your RV rental at, it is recommended that you look at comparable RVs in your area and price your RV similarly. It is as simple as seeing what others are pricing theirs for and trying to find a number that makes sense for you.
Here are some general pricings from RVshare:
- Travel Trailers $75 to $175 per day
- Class C Motorhomes $125 to $250 per day
- Class A Motorhomes $150 to $300+ per day
That’s a lot more than I thought RV rentals would make!
What kind of RVs can you rent on RVshare?
No matter what type of RV you have, you can probably rent it out on RVshare. Different types include:
- Class A Motorhome
- Class C Motorhome
- Class B Motorhome
- Travel Trailer
- Fifth Wheel
- Toy Hauler
- PopUp Trailer
- Truck Camper
As you can see, it’s not limited to just one or two types of rentals.
RVshare also offers these great benefits:
- Every rental booked through RVshare is provided with 24/7 roadside assistance, including towing at no additional cost.
- Every rental is provided with liability, collision, and comprehensive insurance coverage.
Now, what happens if someone damages your RV while they are renting it? According to RVshare:
“Even though RVshare renters are characteristically very respectful and treat the RV just like it was their own, damage can still occur. Once your RV is approved for RVshare rental insurance, you’re covered by two protective mechanisms of the RVshare platform.”
Related content: How To Rent An RV: The Best Tips For Your First RV Rental
How much does it cost to rent out your RV online?
RVshare only makes money when you make money through RV bookings. There is no fee to list your RV share on their website.
RVshare only makes money after a booking has been successfully made through their website. This is a small commission that comes from each booking to help cover the cost of marketing your listing, providing free 24/7 roadside assistance, renter and owner support, their secure payment processing, and all the other benefits that RVshare provides.
The RV rental commission rate is as low as 15% on RVshare.
What are the pitfalls of renting out your RV?
There are many positives and negatives of renting out your RV.
Renting your RV pros and cons may include:
- The amount of money you can make
- The possibility of wear and tear on your RV
- Dealing with customers who want to rent your RV
And more. These are all things to think about (and more) when it comes to learning how to make money with your motorhome or other type of RV.
Can you make money with RVshare?
As you learned above, yes!
Many people on RVshare are able to make money by renting their RV on the website.
Are RV rentals worth it? Is the RV rental business lucrative?
This is a personal question, as some may love renting out their RV and making money doing so, whereas others may not.
I recommend doing your own research and thinking about the pros and cons as they pertain to your life and deciding for yourself.
So, what’s the next step to making money with an RV share?
Making RV rental income on a website like RVshare is an easy process.
- Click here to head to RVshare and sign up. You can set your price and your availability.
- Book rentals with customers on the website. You can accept or reject any rentals that are booked for your RV – it’s all up to you.
- The person renting your RV comes to you, and when they are done, they return it to you.
- After someone has booked and used your RV share, you receive your payment.
Note: Before doing an RV share, I do recommend contacting your RV insurance company and making sure that they allow you to rent your RV to strangers. You just want to make sure before you proceed.
Are you interested in an RV rental for yourself?
“How do I find RVs for rent near me?”
If you don’t have an RV to rent and are interested in seeing what the RV life is like, you may be interested in renting an RV for yourself.
There are no sales pitches or complicated rental agreements to deal with when renting an RV from RVshare. In fact, details like daily rates and availability are between you and the owner of the RV you’re interested in.
You also don’t have to drive to an RV rental agency to browse available RVs and deal with sales associates. Start your search for a perfect RV share from the comfort of your own home.
Plus, I’ve seen how much some of those RV rental companies charge, and RVshare is a great place to check for affordable RV rentals.
RVshare offers a peer-to-peer platform (again, think RV Airbnb!) that makes it easy to find the perfect RV for spending some quality time with friends or family, while at the same time, staying within a budget that you are comfortable with.
There are already thousands of RV rental listings on their website, so I’m sure you can easily find one in your area!
If you’ve been wanting to rent an RV, you can learn more at How To Rent An RV: The Best Tips For Your First RV Rental.
What do you think of RV rentals? Would you do a motorhome rental from a website like RVshare?