Let’s say you have an RV that you love to use for part of the year, but don’t get much use out of the rest of the time. You could just let it sit there, depreciate, and collect dust when you’re not using it… or you could make some extra cash!
If you’re an RV owner, you can reap great profits from your dormant RV by joining an RV sharing program and renting it out to someone who wants to travel in your rig. On the flip side, if you don’t have an RV but would like to take one on some adventures, then you’ll want to listen up too!
We’ll tell you what to know before joining an RV sharing program and how owners and renters can benefit from it.
An RV sharing program essentially allows a person to rent out their RV that they aren’t using to someone else who doesn’t want to commit to a full purchase. This provides benefits on both sides, as the RV owner gets to profit off of their RV when it isn’t in use rather than letting it just sit there, and the renter gets to enjoy the RV’s functionality for however long they wish at a much lower cost than buying.
How it works is that owners will post a listing for their RV online, detailing the class, condition, and any other relevant specs of the vehicle, and the person looking to rent will browse listings to find the best RV for them based on their criteria. Many owners find that this is an excellent way to pay for some of the costs associated with taking care of their RV throughout the year.
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RV sharing programs present unique opportunities to make some extra money off of something you already own, but they do come with some challenges as well. Here are the biggest things to know as an owner before joining an RV sharing program.
Here are some benefits owners get when they rent out their RV using a peer-to-peer rental platform.
You’ll earn extra money. Renting out your RV through a sharing program is a great way to make use of your rig and reap profits. It’s up to you when you want to rent out your RV and for how long, so this shouldn’t interfere at all with your normal use. You can also save on storage costs by having someone rent your RV when you’re not using it rather than paying to let it sit in some garage.
Some rental platforms offer insurance for your renters. RV insurance is likely one of the larger costs you’ll have to deal with in RV ownership, and it’s essential to have, even when you're not the one driving. You can always rent out your RV on your own, but a reputable RV sharing program like Outdoorsy will provide you with coverage themselves for the duration of the rental.
You’ll have the support of a third party. Going through an RV sharing program also means that there is another party involved that has your back in case anything goes wrong during your rental period. This way, you have an authority on your side that’s overseeing the entire process and can step in if need be, removing much of the risk. Many programs offer further support such as roadside assistance as well.
Like anything else in life, there’s always a downside to think about. Here are some cons to consider before renting out your RV.
It might be a minor hassle. Renting out your RV is a lucrative and promising concept, but it does require some legwork on your part. You’ll have to keep the RV in tip-top shape and keep up with the maintenance standards that your sharing program requires.
You may worry when it’s not in your possession. Some people also find it difficult to rest easy knowing that someone else out there is driving their RV.
Your RV will rack up more mileage. More people driving your RV means more mileage and more wear and tear, even if they don’t get into an accident. Ideally, the money you’re making from renting should overshadow these costs, but it is something to be aware of.
FOR THOSE NOT-SO-SUNSHINY DAYS
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We won’t even bother with a pros and cons list for renting an RV through a sharing program, as there are very few cons to consider.
It’s generally an excellent idea to use an RV sharing program if you aren’t ready to buy. You get the wonderful opportunity to test out the RV lifestyle before you dive in with both feet, and once you’ve secured the rental, where you go and what you do is totally up to you. The cost of renting is much, much lower than the cost of buying, and good RV sharing programs should get you a sweet deal.
PLAN YOUR DREAM TRIP
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Be sure to check out Outdoorsy if you’re hoping to enjoy major savings on RV rentals!
Renting an RV through a sharing program allows you to narrow down exactly what you want out of the RV before you search through listings. You can sort by specifications like:
What class of vehicle you want
How many people you want to sleep in the RV
What appliances you would like to have
Whether you want to pick up the RV or have it delivered to your campsite
All of these criteria and more can be met at the price point you want with the number of options available through these programs.
The only disadvantage is you have to be extra careful about accidents and damage since it’s someone else’s property. However, this is hardly even a real downside because you’d want to take good care of it even if it wasn’t!
The most important things to be aware of as a renter are whether the listing you want meets your needs, will be available for the dates you’re wanting to rent, and has been posted by a reputable owner.
The RV sharing program will walk you through all of these steps and work with you to make sure you have a great experience and aren’t cheated in any way, which isn’t something you can guarantee if you rent directly from a person outside of a sharing program. If you’re looking to take an RV for a spin but don’t want to make a full purchase, an RV sharing program is the way to go.
Did you know you could save an average of 35% compared to other insurance companies by getting a comprehensive plan with Roamly? This insurance company was created by passionate RV owners,so they know exactly the type of coverage you need for your RV. No more paying for expensive features you don’t need.
Additionally, Roamly doesn’t stop covering your RV if you decide you want to rent it out on peer-to-peer networks like Outdoorsy. That means you can make extra money when you’re not using your RV.