Every person dreams of hitting the road and never looking back, a impulse that leads many people to investing in an RV. It’s better than renting a vacation home, since you can visit many different locations and you only have to unpack once. But how many have the freedom to up and leave on an RV at a moments notice and live the dream?
AN IDLE RV DOESN’T DO YOU ANY GOOD
Many people have an RV that is parked idly alongside the house for days and months. So why not rent out your RV and make some extra cash until you decide to take it out for a spin? On a very practical note, most RV owners are unable to go on the road for the entire year due to the real-world problems of a job, household responsibilities, kids sporting events and the litany of other time-consuming elements of life. So the dream machine ends up sitting locked up at the storage facility and gets neglected for months or sometimes years. That just ruins the RV which had been bought with a lot of expectations of taking vacations of grandeur, and traveling the countryside getting lost on back roads.
Instead of moping around and regretting having bought an RV and making loan payments month in and month out, you can simply rent it out and make money off the idle vehicle. Now, instead of costing you cash monthly in loan payments, storage and maintenance, the RV becomes an cash generating machine and thus pays for itself while still allowing you the freedom to use it when you like.
This is a win-win situation for any RV owner who is burdened under the pressure of maintaining, storing and preserving such a beautiful coach. Because the more it sits next to the house, the more decay and rot will creep in and that expensive RV ends up trashed rather than cruising down that scenic highway.
PROCESS OF RENTING YOUR RV
In order to manage, maintain and sustain the RV, renting it out seems like an idea worth looking into. Who wouldn’t want the opportunity to make some extra cash? The question which most RV owners faces is how do we rent our beautiful investment without having to worry about someone stealing it or abusing it for all the wrong reasons? After all that RV hasn’t been bought randomly or whimsically but with one’s hard earned money. An RV purchase is a significant investment that requires a lot of financial planning and thinking. Plus, we’ve all heard the terrible stories about renting experiences, which pop up more often than the happy stories. Though happy stories are the norm and negative experiences are the outlier, hearing about a bad experience is what deters a person from renting out their investment.
In such a situation, there are rental management services which can help with all the formalities that are required to be completed to ensure your precious investment does not get trashed, stolen or damaged from the person to whom it has been rented out to. A proper RV rental management company can help an RV owner get started in doubling their investment instead of wasting it.
HOW MUCH CAN I MAKE BY RENTING MY RV?
Now that you are hooked on the idea of renting out your beautiful RV, the next question is how much does one earn in a year after deducting all expenses? Well statistics show that renting out a motor coach can generate at least $ 30,000 with a minimum of $10,000. The amount can go as high as you want it to go depending upon the number of times you want to rent out your RV. The more it is rented out, the more money it will make. This also depends upon the type of RV an owner has. So the pricing of the RV will be dependent upon type, volume of rentals, and quality. Whether you have a travel trailer, fifth wheel or Class A, B or C motorhome pricing it right will assure that you make lots of money off of your parked rig. The demand for renting mobile accommodations has never been higher, being fuelled by the millennials and baby boomers desire to step away from just renting vacation homes at one destination and go explore the open road to experience all this great nation has to offer.
Don’t know how to price your unit? No worries, that’s when a rv rental management company comes into the picture.
PARTNERING WITH A RV RENTAL MANAGEMENT COMPANY LIKE MINNESTAY
At Minnestay they will take care of all the details, including the verification of driving records of all drivers, ensure that liability insurance and collision coverage has been purchased to cover the cost of the RV as well as the right amounts of deposits have been collected to take care of any unforeseen damages that are part of the deductible. Additionally, we handle the time-consuming advertising through our network of contacts, rental contracts, roadside assistance and handle all inquiries along with undertaking the renter training sessions and taking the calls at midnight with questions on how to start the generator. These are just a few of the many things that a good RV rental management service company will provide you with.
By going to a proper RV management company an RV owner ends up making money rather than losing out on its upkeep and by having others maintain and take care of the unit in bristol condition you always have a well-kept RV to use when you want to travel. An RV management company has the experience to price your coach just right.
Interested in learning more about renting out your RV? Contact Minnestay today!