Renting Out Your Motorhome: Helpful Tips
You’ve been using your Winnebago for a while now and you’ve gotten a lot of good use out of it. Maybe you’ve become too busy to take your regular road trips. Perhaps you’ve been to the places you wanted to go and you’re ready to take a break from travelling.
You may not be ready to sell your Winnebago but maybe you’re looking for ways to make money from your motorhome. The best way to do this is to offer it for rent to people who are looking to live the road trip lifestyle without actually investing in purchasing an RV. You’ll be surprised at how many people are actually looking to rent RV’s for unforgettable road trips. The recent trend in RV lifestyle doesn’t look like it’s going to stop any time soon. The following tips will help you to be able to make money without getting yourself in a pickle from renting out your vehicle to the wrong people. Remember, you may eventually want to sell your motorhome, so make sure to keep the following tips in mind when renting your vehicle:
- Does it need some fixing? Before you rent out your vehicle, make sure to take a look at it’s condition. It’s easy to be distracted from the little things that may be worn out or damaged. If you’ve been using it for a while, you may have let some things go. The thing is, if you want to get some good money from it while renting it out, you may want to do some remodeling or fixing-it-up. Potential renters are going to want to feel like they’re staying in a “nice place.” Sure, the point of renting a motorhome is so that one gets from one place to the next but of course, people are concerned about where they’re staying. So, if you notice that the bathroom may look a bit rough or the cupboards in the kitchen need some attention, make sure to fix it before you try to rent it. You’ll be bound to rent it out much more often if you do so.
- Do you have insurance coverage? You’ll want to make sure to rent out your vehicle with commercial insurance coverage. Your personal insurance policy isn’t going to cover the damage incurred by the renter so make sure that you keep yourself protected from any damage caused by the person renting it. You want to make sure that you don’t have to end up spending thousands for repair if the renter ends up crashing it. The right kind of insurance is going to help you to be covered if third party damage happens or heaven’s forbid, a death is caused by a crash. You will hope that nothing happens to your vehicle, but roads are unpredictable, so make sure that you’re protected.
- Do your research on your potential renters. It can be challenging to entrust your vehicle into someone else’s hands, especially someone that you don’t know. To avoid renting to someone who may trash it or perhaps use it for illegal activities, make sure that you do as much research as possible on the individual. For example, if you find any DUI on their record, you may want to reconsider renting your RV to someone who potentially drives while under the influence; which could lead to a car accident, which is certainly something that you want to avoid.
- Try to rent it to people that you know. It may not always be possible but renting out to people you know could make it easier on you. You most likely trust these people a bit more than you do a stranger, so let it be known in your group of friends that you’re renting out your motorhome. A lot of people will jump at the opportunity to rent from a friend over renting from a big dealership. It should make it easier for you to work out different things that could come up when renting the vehicle and you can also make sure that it’s someone who is trustworthy.
You can make a lot of money from renting out your RV. A lot of people want to travel around the country in a motorhome. If you’re too busy to do it yourself, then why not make some extra cash instead of having your vehicle parked in the driveway?
You could be a bit attached to your Winnebago but if you have been looking for a new way to make money, renting it out could be the best way for you to make that extra cash you’ve been hoping to come up with. Follow the above tips to avoid getting yourself in trouble with irresponsible renters and then sit back and enjoy the money flow coming your way from renting out your vehicle.