Is Your RV Making You Money?
It’s no secret that owning and maintaining an RV can be quite a financial undertaking.
On top of the initial purchase, there are an array of registration, insurance, storage, maintenance and repair costs. Also, you may only use your RV during the spring and summer.
That means your pricey investment sits idle during the fall and winter.
Did you know that you can rent your RV out to interested parties?
Much like many folks rent out their vacation home when they’re not using it, you can do the same with your motorhome.
Best of all, renting out your RV can help you generate enough income to cover your monthly RV expenses.
D.I.Y RV Rental Options: Pros & Cons
Once you’ve decided to rent out your motorhome, you may be wondering what comes next?
There are a few different ways to go and your overall success truly depends on the steps you take to rent out your RV.
If you have friends or family that want to be your rental customers, then you may be able to handle the RV rental logistics on your own. The upside of this arrangement means that all of the money generated from these rentals is yours.
Of course, so are the risks.
If your RV breaks down during their trip, you could be getting calls at 2:00 AM from irate friends and family demanding immediate help. That usually amounts to expensive mobile service calls, refunds or even worse if you have to make alternate arrangements for stranded travelers.
An alternative rental option is to list your vehicle on an RV sharing website. These sites are basically RV rental bulletin boards. RV sharing sites generally charge a 25% commission and process rental payments.
However, if a customer breaks down or even has the slightest issue with your RV, you find yourself dealing with payment disputes that may wind up costing you money in the long run.
The Benefits of Working with a Professional RV Rental Company
Working with a professional RV rental company has a big advantage over do-it-yourself rental options.
Renting RVs to interested customers is their area of expertise, so they have the knowledge and experience to avoid common mistakes encountered in the DIY options. These companies provide the most comprehensive service which helps eliminate many rental-related risks. Additionally, they know how to get you the best rate for your RV rental.
Plus, they can use their marketing resources to get you more rentals than you would ever receive on your own or with a RV sharing site.
Commission structures for professional RV rental providers is generally a fixed 50/50 split. Most reputable providers have their own client databases, offer coast-to-coast service, and have internal customer support departments. That means they’re well equipped to provide assistance and are used to dealing with those 2:00 AM phone calls from customers.
In the event of a major mechanical issue or a stranded customer scenario, they have the ability to dispatch a substitute RV anywhere in America.
As a trusted professional RV Rental agency for more than a decade, Allstar Coaches operates the nation’s most successful private motorhome rental program. Vehicles enrolled full time in our Rental Fleet Program average roughly 24 weeks of rentals per year. And our program typically generates enough revenue to offset, or completely cover the costs of RV ownership.
What are the Risks Associated with a Professional RV Rental Company?
Now that you’re aware of the many advantages of working with a trustworthy RV Rental agency, you may still be worried about the possibility of damage to your vehicle.
This common concern among many potential RV rental program participants. In fact, this is perhaps the most important factor when deciding to participate in a professional RV rental program.
If you choose to rent your motorhome via a DIY option, then the risk of damage and the repair costs are all yours. Even if you choose to work with an RV sharing site, they do not offer you any real assistance or support.
On the other hand, reputable RV rental agencies, like Allstar Coaches, will not rent your RV out to just anybody. In fact, we have several trusted vetting processes in place, including reviewing the current Department of Homeland Security (DHS) watch list, and running an array of background checks related to customer credit, driving history, and employment. Specifically designed to detect “red flags” and protect owners, these procedures are very effective.
Would you like to read more about how you can rent out your RV?
Check out the Second Part of this article!
To learn more about Allstar Coaches Owner’s Fleet Program, reach out to usContact Us today!
