By Liz Wilcox
You’ve seen the ads on Facebook. You’ve heard the stories about people making money. There are even rumors going around that the demand is much higher than the supply. But should you actually rent out your RV?
It seems like a simple question, but I know it can be a difficult one. To help you make the decision that’s right for you, I’ve put together a list of five tell-tale signs that you’re ready to rent out your vehicle.
If you find yourself nodding “yes” to more than two of the points below, you’re ready to list your RV.
1. Your RV spends more time in storage than at the campground.
You bought your rig with the best intentions. You planned to visit every state park within 200 miles of home. The Good Sam rally schedule was hung on the refrigerator right away. Life was exciting!
But let’s face it, the only state park you’ve been to is the one 15 minutes from your house. And that schedule? It slipped under the fridge ages ago.
And so your RV sits. You’re reminded of this every time you drive past its storage facility or walk past the RV in the driveway. It stings a bit. After all, you have a big rig payment without all the big rig excitement. You do the math and woah! That RV of yours is parked 70 to 90 percent of the time.It may be time to rent out your RV, my friend.
2. You’re interested in paying off your RV.
I mean, who isn’t?
People do not just casually buy RVs. The purchase is an art form. You daydream for months — possibly years. Armed with a budget and a floor plan, you marched into that dealership ready to make a deal. And you got that deal!
The RV is yours now, along with the financing.
Oh, the financing! With a 15-year loan, it seems the day will never come when you don’t have to make an RV payment.
But then you heard that the average Class A motorhome rents for over $200 per night. And if that’s true, you could easily start paying down that loan. All you would have to do is rent out your RV from time to time.
If you really want to pay the loan off quickly, turning your RV into a second income with Campanda is one of the fastest and easiest ways to do it.
3. The value of your RV is depreciating, and quickly.
Depreciation is a bad word in your household.
But just between you and me? Your RV is depreciating. Fast. From the moment you drove it off the lot, the RV’s worth started plummeting.
Harsh, I know. But here are the facts:
- A quick internet search shows an RV is only worth half of its retail value by its sixth year. HALF!
- Unless you own a rare or classic RV, your rig will likely never appreciate in value.
- Your RV will only stop depreciating when its value is equal to the scrap value.
The stress of owning something worth less than its loan payment can be overwhelming. When you start renting your RV through Campanda, you can make enough income to cover what you lose in depreciation — and then some!
4. You see RVs everywhere.
Once you bought your RV, you started noticing other RVers on the road. And at church. And in the RV aisle at Walmart, your kid’s college graduation ceremony, the gas station line … if you’re tech savvy, you probably see them all over Facebook, Instagram and Pinterest, too!
You get the point.
It’s impossible to ignore: America is in love with RVing.
In fact, Americans are just in love with the great outdoors in general. Mid-lifers and millennials alike are attending festivals, exploring new regions and taking day trips. And not just around Christmas or summer vacation —people are traveling in steady droves.
And just like you, they’ve figured out that the best way to experience all of these amazing things is in an RV!
This incredible change in market gives you — the RV owner — a unique and lucrative opportunity.
5. You’re ready to take the leap.
Friends say you’re nuts. How could you just hand over the keys to your RV? Something that holds so much value? Something you owe so much money on? TO A COMPLETE STRANGER?!
Of course, those things have crossed your mind. The idea of renting your RV to some guy and his kids is (admittedly) scary. But you know of a secret weapon — and you are ready to use it to your advantage:
The RV industry is booming. Midlifers and millennials love RVing. They also love the sharing economy.
Just like you want to know as much as possible about the people who will be renting your RV, prospective renters want to know about you and your vehicle before they put money down on a rental.
On Campanda, both you and the renter create profiles. Then you review and rate each other. Reputation is constantly on the line, keeping everyone in check. Basically, character is the driving force behind this economy, inspiring trustworthiness and reliability of the consumer!
Join the sharing economy, conquer your fears and start your RV rental business today!