Introduction
If you are considering purchasing a preloved RV, you need to look out for the latest deals to buy the vehicle at a discounted price. The rule of thumb here is to purchase RVs that are at least 20% below the market price.
Location is a key deciding factor for many renters, so expanding the range of locations you are willing to deliver the RV will result in more rental inquiries. If you are only keen on traveling within the vicinity of your house, do include the nearby campgrounds or RV parks that allow you to comfortably park your RV. Additionally, including your home city as a location may serve you handy if renters have a specific event to attend in the said city.
Acquiring an RV
Pricing wise, it should be charged competitively but not to the extent that you are making meager profits. If you are delivering and setting up the RV, this additional labor should be factored into the total rental fee too.
If you purchased a used RV in its first two years with a discount, you should be able to garner around ,000 to ,000 annually in the next two years. By the time the RV is four to five years old, you can still sell it at its initial price point if the vehicle is still in pristine condition. Whether you sell it at a further discounted rate or not, you are still gaining more profit compared to RV owners who bought brand new vehicles at a high price.
If you want to elevate the current business, one can consider trying paid advertisements via social media to reach fellow camping enthusiasts directly. Social media platforms has simplified the process to create your own advertisement, so anyone can create one with a tap of their fingers.
Starting an RV rental business is not as difficult as it seems, in fact, the process can be relatively simple if you have the right knowledge. This is especially the case for existing RV owners because they can kick start the business at zero investment. So, if you have questions like ‘how to rent my rv’, follow these five steps and elevate your RV rental business.
To officially launch your business, you will need to tell the public about your offerings. But placing a listing as a classified ad can be costly and it is only temporary. Instead, try using rental platforms online that allow RV owners to manage their bookings and list their products for free.
Prepare the RV for rental
When purchasing a preloved RV, we recommend searching for vehicles that are one to two years old. Specialized RV trading shops or online marketplace are good places to do your research at. When you find your destined vehicle, please check the condition of the car in reference to the pre-delivery inspection checklist.
Items to include
- Cleaning supplies
- Cooking utensils, plates, silverware set
- Simple cooking condiments
- Camping table and chairs
- Basic toiletries
- Towels and linens
- Coffee pot
Items to exclude
- Personal clothing
- Toys
- Perishable food
- Personal photos
Listing your RV on rental platforms
If you are interested in starting an RV rental business, remember the following motto – buy it right, own it right, sell it right. As we mentioned in the beginning, being an RV rental operator is actually feasible if you follow the right steps. The key takeaway here is to always remember that renting RV is a business, so owners have to constantly remind themselves to make financially sound decisions.
You don’t need a marketing professional to promote your business to your prospective clients. Spread the word to your friends and family via social media platforms like Facebook, Instagram, Pinterest, and Twitter. They can also help you out by promoting your listing on their own pages as well. When crafting up the social media post, use pictures that are brightly lit and showcases as many corners of the RV. The same picture can be used for your actual listing too.
Market your listing
Since this is still a business, you would want to steer clear of avoidable costs. These can come in the form of RV repair, maintenance, and even vehicle insurances. Therefore, it is a good practice to let go of your vehicle before you have to pay a hefty sum just to keep it in workable condition.
Sell at the right timing
If the RV is for renting purposes, we suggest you purchase a fifth wheel or travel trailer because it’s a safer and more cost-efficient delivery of an RV. This decision is made in mind that you will be handing over the RV to your renters via delivery, so getting an RV that can be hooked to your vehicle can be really convenient in the long run. Meanwhile, vehicles like motorhomes require towing to transport them to and fro.
First, we need to acquire the product that will gain profit for us. If you already own an RV, you are in luck because you will be starting the business with zero investment. Since RVs are expensive, why not leverage them to earn back their initial cost and maintenance fees!
Bigger RV rental companies purchase the vehicles in a bulk at a low cost. By renting out the RVs for one to two years, they earn approximately ,000 annually. Soon after companies will sell these vehicles for their initial cost to gain back some profit. This cycle is inevitable because RV is not meant to last forever, especially with the depreciation that commercial vehicles endure. Your RV is less likely to go through that type of deterioration but you still have to sell the vehicle.
At the end of the day, RV rental is still a business. Hence, one needs to know the right time to sell their vehicle to avoid financial loss.
Conclusion
Your personal RV may be like your second home, but it is important to remember that renters may not like having too many personal items occupying the space. When preparing your RV for rental, imagine what a luxurious hotel might prepare for their guest and imitate that as much as possible. We’ve written down a list of items that should be included and excluded from your RV here: