Looking for a Cash Influx? Here are Five Reasons to Consider Renting Out Your RV
By Seija Samoylenko, Manager, Customer Success, Campanda.com
As you enter and move through your 50s, it is a great time to consider investing in an RV, if you haven’t done so already. It’s the perfect time for family adventures with older kids before they go off to college, or to explore the country as new empty nesters. A recent Harris Interactive survey found that 59 percent of those polled agreed that investing in an RV is a great way to be able to travel affordably and frequently in retirement. Investing in an RV now will get you set up so that you are ready to take advantage of retirement as soon as possible.
Whether you already own an RV or are considering investing in one, a great new opportunity to help offset the cost of ownership is to rent it out via a peer-to-peer rental service. An estimated 75,000 RV owners in the U.S. successfully monetized their RVs last year by renting them out.
Campanda.com, and other services like it, work much like Airbnb: Owners offer their RV for rent and then choose when and to whom to rent it. You might think, “Why on earth would I rent out my RV to someone else?” There are a lot of great reasons, and here are just five to consider:
It’s just sitting there!
The average RV owner uses their RV for about three weeks a year. The rest of the time, the RV is just sitting in the yard, or, more likely, in a costly storage facility. Sitting idle is one of the worst things for a vehicle in terms of maintenance and upkeep. The more it sits around, the more likely mechanical problems are to crop up. Why not rent the vehicle out when you aren’t using it? It will help keep your vehicle in good running order, and you can make serious money to help pay for storage, maintenance, and other costs.
Renting your RV is a great way to make money
The average RV rental runs between $1,500-$2,500. Renting your RV for just 10 weeks a year could yield more than $20,000. That’s a big chunk of change! In 2017, more people rented RVs than any other time in history, and the industry projects continued growth for 2018 and beyond. Interest in RV travel is at an all-time high, and not just with retirees. Millennials are greatly interested in camping, RVing, and exploring the outdoors. The demand for RVing is huge, and there is a big, consistent market out there to rent your RV. The additional income can go a long way towards offsetting the cost of ownership.
Renting your RV could mean better RVing for YOU!
Your RV is a goldmine. By monetizing it for additional income, you give yourself options you wouldn’t have otherwise. For example, you can use rental income to enhance the enjoyment of your own RV experiences. You might want to upgrade your RV to something larger or with more amenities, and rental income could help make that happen. You can also use rental money to pay expenses for your own RVing adventures, taking an extra trip that you might not be able to afford otherwise.
Renting your RV through peer-to-peer sites is easy and safe
Using a peer-to-peer service to rent out your RV is easy. List your RV on one of these sites, and wait for the inquiries to come in. Be sure to check whether the peer-to-peer service offers important benefits like comprehensive insurance coverage, 24/7 roadside assistance, and live 24-hour phone support. These services will make the RV rental experience easy, safe, and worry-free for both you and your renters.
You are in control
The beauty of peer-to-peer rentals is that you decide when and to whom to rent your RV. There is no pressure to rent it out at any time. Use your RV when you want to and rent it out when you know it will be sitting around. It is a great way to share the love of RVing with others.
Your 50s are a great time in life to get into RVing, or to upgrade an older RV for a newer model that can take you through lots of fun retirement adventures. Taking advantage of the great income opportunities that peer-to-peer RV rentals can provide will help you reach your RVing goals and get the most out of RV ownership.
Seija Samoylenko is Manager, Customer Success at Campanda.com, the global leader in peer-to-peer RV rentals, with operations in 42 countries.
