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Anyone have experience renting out an RV?
Posted on 10/13/21 at 2:29 pm
Posted on 10/13/21 at 2:29 pm
I'm thinking about purchasing an RV for my occasional use and listing it for rent on Outdoorsy or something similar during the down time. I don't have any RV experience, but it's something I've thought about for a while now. I'm definitely considering renting one for a week or so, just to get my feet wet. My in-laws have a class-C that they take all over to different horse riding campsites and they love it.
Anyone have any experience with Rv's that can tell me what to look for in buying one? Renting one? Anyone made any money that way?
Anyone have any experience with Rv's that can tell me what to look for in buying one? Renting one? Anyone made any money that way?
5
Posted on 10/13/21 at 5:18 pm to Goombaw
You need special insurance to rent one out. Shouldnt be too difficult to find, though.
Posted on 10/13/21 at 9:45 pm to Goombaw
You will be sorry if you do. While it sounds like a cash cow, you will lose on depreciation plus people will not treat it like you would, and most people have no idea how the various systems in a RV work. You will be getting calls from renters for troubleshooting problems. And there will be problems with a RV.
Posted on 10/13/21 at 10:05 pm to meansonny
Going through Outdoorsy provides $1 million in insurance and roadside assistance. Obviously, they aren't going to maintain it and keep it running but I think they handle a lot of the troubleshooting while it's rented.
Posted on 10/14/21 at 7:30 am to Goombaw
For every $100 you make on renting they will cause $500 in wear and tear and damage.
Posted on 10/14/21 at 8:01 am to Goombaw
I cant imagine renting out an RV is ever a good idea. So many people who rent them have no idea what they're doing. Just keep in mind people who rent flog on those things way harder than you ever would. Think about rental cars and how beat up those can get from different people renting them all time. Just sounds like a headache. I certainly wouldnt be renting something out I'd be wanting to use as well.
Then of course the depreciation on an RV is insane unless you got something like an airstream.
Then of course the depreciation on an RV is insane unless you got something like an airstream.
This post was edited on 10/14/21 at 8:03 am
Posted on 10/14/21 at 8:56 am to Cool Hand Luke
quote:
you will lose on depreciation
Depreciation will happen if you own it whether you rent it or not.
I really have no idea OP, I have some vacation rentals so I have some limited experience in this arena. You'd have to use it quite a bit first to understand it. I'd look very hard into the roadside assistance and what happens if something breaks down or say you get a flat and the renters are out for 48 hours of their trip? I'd think that's a very normal experience as an RV flat on a saturday in the middle of nowhere would not be an easy fix potentially?
ETA: A huge negative to me is you couldn't store your personal items in there. So anytime you wanted to use it you have to completely load it. Part of the benefit of owning over renting is having it personalized. You really want to minimize that as much as possible.
This post was edited on 10/14/21 at 8:59 am
Posted on 10/14/21 at 9:12 am to footballdude
quote:
For every $100 you make on renting they will cause $500 in wear and tear and damage.
What I was going to say. These things are very awkward to drive and tough to maintain or use if you've never done it. I cannot imagine the headaches from renting one out.
Posted on 10/14/21 at 12:50 pm to baldona
quote:
I'd look very hard into the roadside assistance and what happens if something breaks down or say you get a flat and the renters are out for 48 hours of their trip? I'd think that's a very normal experience as an RV flat on a saturday in the middle of nowhere would not be an easy fix potentially?
If I do it, I'll rent it through Outdoorsy or RVShare, both provide roadside assistance.
quote:
I have some vacation rentals so I have some limited experience in this arena.
Well, that's another thing we're considering so I might pick your brain there a bit too, if you don't mind. We live in a rural area that is surprisingly busy. Our local newspaper put out an article recently where our tourism board has been asking people to provide more rentals to keep up with demand.
Are you going the Airbnb/VRBO route with condos or cabins? This is all part of a broader strategy for my already existing rental business. I currently own some home/mobile home rentals but would like to expand into the hospitality side of things.
This post was edited on 10/14/21 at 1:02 pm
Posted on 10/14/21 at 6:12 pm to Goombaw
We have a friend that was planning to do something like this. However, he wasn't going to let anyone drive it. Basically, you tell him where you want the RV for a weekend, or week, or whatever, and he would drive it there, park it, set it up, you use it, then when you are done, he goes back, and brings it back to his place or to the next location.
He was going to start this fall but is currently living in it due to Ida damage to his house.
He was going to start this fall but is currently living in it due to Ida damage to his house.
Posted on 10/15/21 at 5:45 am to Goombaw
quote:
Going through Outdoorsy provides $1 million in insurance and roadside assistance. Obviously, they aren't going to maintain it and keep it running but I think they handle a lot of the troubleshooting while it's rented.
I dont think you understand the issue.
Most standard RV policies disallow short term leases in the RV. You can get liability through outdoorsy for the short term lease, but it is basically uninsured on the road if you didnt buy the correct personal owner policy.
There are solutions out there. But if you arent specific about your intentions while buying the RV insurance, you are buying a voided policy.
Posted on 10/15/21 at 6:26 am to meansonny
My brother used to rent his out through a company because he used it sparingly and it was just sitting there. Either way you are fricked. Thing fell apart and depreciated when not in use or when used. He was able to lemon law it and get a bunch of money back otherwise it was a money pit.
Posted on 10/15/21 at 10:25 am to meansonny
quote:
Most standard RV policies disallow short term leases in the RV. You can get liability through outdoorsy for the short term lease, but it is basically uninsured on the road if you didnt buy the correct personal owner policy.
I don't know the details, but I'd assume that the 3rd party Rental Company covers the driver right? What's the liability or issue with the owner if the current driver is covered?
Insurance follows the driver not the vehicle right?
Posted on 10/15/21 at 10:28 am to baldona
The biggest question to me is where people are taking them? If you rented it out from say NOLA and most people took it to football games to say Baton Rouge or the SEC WEST, then that's not a problem. I would think the mileage and wear and tear would kill you on people that take it for long road trips?
Given someone tailgating out of it may use it harder for the long weekend considering its likely they are "partying" to some degree and in and out with other people constantly.
Given someone tailgating out of it may use it harder for the long weekend considering its likely they are "partying" to some degree and in and out with other people constantly.
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