Many American households own an RV. Most of them only use it for a few weeks in a year. And then they pack it away like a Christmas tree until they next need it. This may work for a Christmas tree but it’s not such a good thing for your RV as engines are meant to be run regularly for them to remain healthy.
And that’s why you need to consider renting out your RV when you are not using it.
After all, there are many people who love the RVing lifestyle as much as you do but are not ready to make a commitment to buying their own RV. Why not let them use it? Not only is it good for your RV, but it is also an avenue of earning some money on the side – and we all know how important a secondary source of income is.
Advantages of Renting Out Your RV
Considering that you placed a considerable investment in order to own your RV, it’s tempting to want to keep it to yourself and not let anyone else use it – especially total strangers. I get your point, but renting out your RV might be more beneficial than just locking it up somewhere. Let me show you how.
1. Earning Money for Itself
The best part about renting out your RV is that it is a way of earning money that can help you cover the running costs of the RV. If you have not paid it off, it can end up paying off the balance for itself. It is totally possible as some RV owners report making anything from $1,000.00 to as much as $80,000.00 a year depending on the type of RV and where it is located. Even if you earn $1,000.00 from your RV, it is still more than what you pay a month to clear the financing you got for it. And if it is fully paid for, you can use it to upgrade your prized motorhome (and charge more for it).
2. Prolong Your RV’s Engine
As I have already alluded to, an engine needs to be run regularly in order to prolong its lifespan (especially diesel engines). Keeping your RV parked for most of the year can encourage particles in the fluids to settle, coagulate, and eventual clog up the system. Keep your RV healthy by letting others take it for a ride.
3. Save on Storage
One major expense involved in running an RV is storage, especially if you don’t have space to park it at your home. This is where renting out your RV makes sense. By renting out your RV, you reduce your storage costs while earning money at the same time. Talk about killing two birds with one stone.
4. Make New Friends
If there is one word that can be used to describe RVers, that word is friendly. RVers are friendly, outgoing people who just love life. By renting out your RV you get to meet these wonderful people and make new friends. Not only do you make new friends, but some of the people you offer your RV rental services to will become regular customers, giving you that extra peace of mind knowing that your RV is in good hands.
The Cons of Renting Out Your RV
As much as renting out your RV is one of the best things you can do for yourself if you don’t use it regularly, there are some cons to renting out your RV.
Anxiety is the biggest con to renting out your RV to total strangers. This is because you don’t know how the person will treat your beloved RV. This is why it is best to list your RV with an RV rental company than going it alone. RV rental companies protect your RV, not only through their insurance programs but by also enforcing some guidelines on exactly how renters should treat your investment.
2. Wear and Tear
The other con to renting out your RV is that the internal fixtures may end up wearing out faster. The best way to work around this is to set aside some of your earnings for maintenance and upgrades so as to keep your RV in tip-top shape.
Renting Out Your RV – Is it Really Worth It?
Many times people want to know if renting out their RV is really worth it in the end. The answer depends on you. If you are doing it to offset some expenses, want to earn money on the side, or share the RVing spirit, then it is definitely worth it. But if you lose sleep every night your RV is out with a stranger, then no, it is not worth it. At the end of it all, renting out your RV should be a joyful experience, not cause for anxiety attacks. That is why listing with an RV rental company is always best.
Feature image via KOA