With many people looking for ways to make extra cash, RV owners may wonder how to profit from owning an RV. A recent study showed that the average RV owner only uses the motorhome 19 days out of the entire year. Could your RV make you money when you’re not using it? The answer is to rent your RV out to people looking to take an RV road trip! Renting your RV could be a great way to make extra income, but there’s a lot of conflicting information out there regarding how much you’ll earn while renting an RV. How do you figure out what you’ll make by renting out your RV? We discuss it below.
Many factors go into determining how much you’ll earn when renting out your RV. Here are some key points to consider:
Guests rent RVs so they take adventurous RV road trips. The first step is physically getting access to the RV. Since guests pay for gas during their trip, many want to rent an RV close to their desired destination. If renters need to travel long distances to get the RV, it could impact the amount of money you’ll potentially earn.
While you can charge more per night for bigger motorhomes with more amenities, you may find that you can rent smaller, cheaper pop-up campers more frequently. Whatever the case may be, the type of RV you have is a significant factor in determining how much you’ll earn by renting it.
How your nightly rate compares to similar listings will significantly determine how often you’ll be able to rent out your RV. However, you can’t just put your listing online for the lowest price around. You need to make sure you’ll turn a profit! Typically, Class A RVs start at $175 per night, while trailers and pop-up campers rent for $50 a night or more.
Renting out your RV only happens if people know that you are renting it! Ensure you provide an accurate description, upload high-quality photos, and add video when listing your RV on an RV rental site. Reach a wider audience by marketing your RV listing yourself through social media, local groups, and your personal network.
If you’re listing your RV through on an RV rental site, there are other costs to consider when determining how much income you’ll make. Many of these sites charge transaction fees up to 20% on top of listing fees. Also, regular RV insurance doesn’t cover RV rentals, so you must factor in additional monthly insurance premiums into your profit.
Luckily, listing your RV with RVnGO takes care of many of these additional costs, which means you have the potential to earn more from your RV rental. RV owners keep 100% of every transaction. RVnGO also insures all its listings up to one million dollars in auto liability coverage and $200,000 in property damage, so you don’t have to pay high monthly premiums for additional insurance.
Many factors go into determining how much you’ll make by renting your RV. While some RV rental companies claim you can earn up to $40,000 a year, a typical RV owner will probably make closer to half that amount. Using the average nightly rate of $175 for a Class A motorhome, you would need to rent out your RV for 229 days every year to make $40,000 in rental income. Earning this amount could take a significant amount of time for most RV renters who are just looking to make a side income. To make $20,000 a year at $175 per night, you’d have to rent out your RV for To 114 days, which is a more realistic number.
Instead of hitting a random income number, make a target income goal based on your specific needs. Set your goal based on the total cost of owning your RV for a year—plus a little profit. To figure out how long it will take you to break even on renting your RV, take your total yearly RV ownership costs and divide that by 100 days.
Earning money while renting an RV is easy with RVnGO. Create a listing with your RV description, its features, pictures, video, and availability. Then, wait for interested renters to request your RV. Once a renter books, you get 100% of the booking funds deposited into your bank account. Create a listing today to get started!
Richard Saling is the Chief Marketing Officer of RVnGO.
RVnGO (https://www.RVnGO.com) is the truly free, peer to peer online RV rental marketplace where you can list your RV for rent, or rent an RV or buy or sell an RV.
RVnGO brings people together without charging any fees to hosts or guests (the users of our website). We are the only online platform that allows them to keep 100% of their rental income for each booking. RVnGO also provides peace of mind to RV owners and renters by automatically including RV rental insurance for all rentals covering up to $1 million in liability. The insurance covers the host and the guest and the guest pays the deductible.
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