How Much Can You Realistically Make Renting Your RV?
There are plenty of reasons to offer an RV for rent. As something that often sits around unused for the better part of the year, it is easy to view these vehicles as money sinks. However, renting it out to others who want to use it suddenly opens up a whole new side business. So how much can realistically be made while renting out an RV?
The amount that can be earned from renting out an RV depends on a number of factors, including the type of RV. High-end rentals can appear for around $250 per night, while passenger vans and hybrid trailers may go as low as $60 per night. Earnings also depend on demand and availability.
Even on the low end of the spectrum, it is still likely worth it for RV owners to look into renting. Especially for people who cannot or do not use the RV often, such as military families, it can be a great option. Keep reading as we explore more specifics and potentials for renting out RVs.
How Much You Can Make Renting Out Your RV
How much you can make renting out your RV depends heavily on a number of factors. The biggest, however, is the type of RV you own. As expected, high-end multi-family options are almost always worth more than pop-ups or other options.
Here is a table showing ranges for each classification of RV and their potential earnings:
|Classification||Daily Earning Estimate||Weekly Estimate|
These estimates were taken from Outdoorsy, an online marketplace where you can list your RV for rent. There are plenty of options out there to do this – we will cover them in a later section of this article. For now, just know that you can expect to earn decent money by renting out your RV for even just a week or two per year.
The Main Factors That Determine How Much You Can Earn
Before getting too excited about the prospect of renting out your RV and earning tens of thousands of dollars per year, there are some important things to consider. The first one to remember is simple – you likely will still want to actually use your RV.
Using your own RV means that, inevitably, there are weeks that you will not be renting it out. Sometimes, this may happen during peak seasons while other RVs are selling rapidly. If you are looking to maximize your earned income from renting, you may need to limit your options.
This, however, can be a benefit. People who are away from their RV for long periods of time, like military members on deployment or those who are moving away for a while, can rent continuously. This can translate to serious income that helps pay for bills and gets put away into savings.
Another key factor is demand. The market for RV rentals can change at any time, and there is always the chance that your RV will not be chosen before others. Most of the sites that allow you to list your RV as a rental work similarly to Airbnb or Turo. While some users make good money on these sites, it is not a guarantee.
If demand is low, you are unlikely to make much money at all. With that said, that does not mean that listing it while you are away on deployment is not worth it.
The quality and features of your RV will affect what it is worth. Just like when you search for a hotel or a rental car, the bells and whistles matter here. Can your RV hold a large family? Does it include a nice kitchen area or just the bare-bone necessities? The more you have to offer, the more you can ask for each night.
Finally, your location and market will affect how much your RV is worth. If you are one of a small selection of people renting out RVs in a high-priced area, you have basically struck gold. Just like any market, however, too many sellers or too few buyers will drive prices down. Take a look across various sites like RVezy and RVshare to see what RVs near you are worth.
Where And How You Can Rent Your RV
As with most modern side hustles, RV renting is best done online. Although it may seem like a niche market, there are plenty of options that allow you to make the best decision for your RV and needs. Let’s review some of the most popular ones.
Online market sites are the best way to earn money while renting out an RV. These work like other sites that let you rent out your property and utilize:
- Easy access
- Good insurance
- Low costs or fees to encourage users
Sites like Facebook or Craigslist also work but generally have worse results.
We briefly mentioned some of the specific options for renting above. Now we are going to do a deeper dive into each one’s benefits and drawbacks to help you decide on a route.
RV Rental Sites Vs. Online Marketplaces
RV rental sites are great to use for people who want a lot of the hassle taken out of renting your RV. While they almost always take a cut of your profits, they handle quite a bit of the back-end stuff in return.
While using an online marketplace, you need to deal with insurance, assistance, tracking, and potential scammers. There are plenty of other things that may come up as well, but these tend to be the largest threats. In comparison, most reputable RV rental sites (like the ones listed here) help out with all of the above.
Whether or not the fee is worth it for you is up to debate. For most people who treat renting their RV as a nice way to earn some extra money – rather than a side business – it is better to let the companies handle the specifics.
However, using a general online marketplace or even setting up a simple phone number and flyer routine has its own benefits. Most notably, you remain in full control of your RV rental, from advertising to payment collection. You also save the fee that sites charge, which can equal thousands extra per year if you are renting enough.
RVezy is one of the most popular sites available for renting out your RV. Some of their key benefits include:
- Free listing
- $1 million liability coverage
- 24/7 Roadside assistance
- Pre-screened renters
Also of note is their service fee: They take 20% from every transaction and have a minimum of $15/night for motorhomes and $10/night for trailers.
You can also choose to give an extra 5% in service fees to appear at the top of relevant search results; this is basically an advertisement fee. You can find a full breakdown of their fee structure here.
They are popular among renters and rentees for a reason – their reviews are consistently high, and the number of benefits they offer is astounding. As expected, you will communicate with everyone interested in renting your RV yourself and have the final say before any transactions are finalized.
Those of you worried about other people driving your RV can also rest easier using an RV rental site. The $1M liability coverage is great and common across various sites. RVezy also specifically checks the driving record of everyone who rents on the site.
Outdoorsy is another extremely popular option that offers plenty of benefits. Listing an RV is free on Outdoorsy as well, and they take a transaction fee for each booking. They have a nice estimate calculator based on what kind of RV you have to rent as well, making it a bit easier to know what to expect right from the beginning.
As far as benefits go, they offer most of the same ones as RVezy, including:
- $1 million liability insurance
- Pre-vetted drivers
- 24/7 Roadside assistance
- 24/7 support
Outdoorsy’s fee is also 20% of each booking, much like RVezy. Notably, they do not have a listed minimum on their fee page. This makes it a better option for small RVs at lower price points.
RVshare is the last of the major RV rental marketplaces. As expected, it offers almost all of the same benefits as Outdoorsy and RVezy, making your choice a bit more difficult. Let’s review some of the differences:
- A $1,500 deductible on the $1 million liability insurance
- A changing commission fee
Outside of these differences, RVshare offers the same benefits as the other sites. While it can seem like a downgrade, in reality, it is just another option. There are plenty of reasons to choose RVshare instead, like a larger marketplace and different clients.
The changing commission fee offers the biggest question, and it is hard to find a solid answer out there. Most estimates place it around 20% for each transaction, just like the other marketplaces. However, it is hard to confirm that without actually listing your RV. Even their FAQ section does not have a direct answer.
While making your decision on where to rent out your RV, we recommend looking at the different sites and seeing which you prefer. Maybe you prefer the layout of one, or the prices on another. Whatever the reason, it is hard to go wrong with any reputable option.
Most rental marketplaces advertise your potential earnings in weekly estimates, and there are people who make over $40,000 per year renting out their RV. However, the average person looking to supplement income while away or on deployment can expect more reasonable averages.
When You Can Earn The Most Money Renting Out Your RV
You can earn significant money while renting out your RV, but the timing will have an effect. Each season offers a different group of people, different availability, and different prices for renting out your RV.
You can earn the most money renting your RV over peak travel seasons like summer. Simply plan out the time you will use it earlier and rent out the RV during other parts of the season for maximum efficiency. You can also earn money in the off-season by renting to travelers and non-locals.
Think of the times when you like to go on vacation or get away for a little while. These are often the perfect times to offer your RV for rent because other people – including other RV owners – are likely thinking the same thing. This can create the perfect storm of limited supply and plenty of buyers to get you more money.
This is especially applicable if your RV is large enough to sleep children as well, as they are out of school for the summer. Most family vacations happen during the summer, especially July. While this may mean some extra sacrifice for you, it could be worth it for the extra income.
Of course, you should not get disheartened if you cannot really rent your RV during the summer months. The truth is, there is money to be had in every week of every season – some will just be slower than others. Especially if you will be away for a while, you can even list the RV with discounts for extended vacations.
If you are renting outside of peak months, try to find non-locals or people heading away for the winter. This can be especially lucrative if you live in a snowy location like the northeast, as plenty of people with extra money on their hands head south. You are unlikely to need the RV until next summer, and they will gladly pay you for the rental.
You can make very good money by renting out your RV, depending on a few key factors. Larger RVs with more bells and whistles and expanded features are worth more; you can imagine it like looking at booking a hotel. The best offers out there can be found for upwards of $400 per night, while the most frugal of travelers can find something as low as $60 per night.
Using an online marketplace to rent out your RV is recommended, as the people are ready to book rentals, and you gain plenty of protection. However, listing your RV on Facebook or Craigslist is also an option.
Don’t forget that the Active Duty Passive Income Facebook Group is an amazing network where you can find out more information and collaborate with other investors. Join today to learn about different investing strategies such as real estate investing. You can also check out ADPI’s fabulous podcast to learn more about investing. With over 200 episodes, there is a massive amount of information for you!