I have a friend who started renting his RV and he said he's making really good money so I'm thinking about renting out my 32 ft Damon Daybreak. I'm a little concerned about how renters will treat my RV but I guess everything is covered by insurance incase something does happen.My buddy said almost all of his renters treat his RV really good, but I'm still going back and forth on rather I should rent it or not.He said I should make about $15k to $20k a year if I do rent it. This would really help us pay some bills if we're actually able to make this much.Do you think I should proceed and rent my RV? We only used it once last year for 10 days and haven't used it at all this year.

No!For all the reasons you've already mentioned.Check your insurance policy, I'll bet it won't cover renting the unit!

Check with your insurance. Commercial insurance will costs thousands per year. Personally I wouldn't do it ever.

As a 25 yr insurance agent I can tell you would need an additional policy (or an amendment to current policy IF available). Those policies would probably have a high deductible and in the event of total loss would probably only cover actual cash value (read extreme depreciation) not replacement cost of the unit. I wouldn't do it myself.

Calculate the cost of RV depreciation, cost of commercial insurance, cost of a commercial tow service policy and I doubt there is that much profit if any. No doubt you can make money otherwise nobody would be renting cars or RVs. That said, I doubt you can make it worth while for your personal unit. Keep in mind the commercial companies buy at wholesale and have a work crew.

Would you rent your RV if you could earn $15,000/yr?

66 Replies

Jarlaxle
Explorer II
Jun 12, 2016
westernrvparkowner wrote:
A basic Cruise America rig rents for $160/day plus $.35 per mile. If all you make off having your rig in a rental contract for a year is $15,000 someone is pocketing a boatload of money. My guess is it would be the Original poster on this thread.

Or they simply do not rent it out that much...
TNGW1500SE
Explorer
Jun 12, 2016
no! Not even for 15K a week.
bobbin_nail
Explorer
Jun 12, 2016
Yeah, 'bout as quick as I'd rent out my new baby boy to a couple wanting to take him outta state on a vacation, for practice time, before they decide to get one of their own.
bcnu, bobbinail
westernrvparkow
Explorer
Jun 12, 2016
A basic Cruise America rig rents for $160/day plus $.35 per mile. If all you make off having your rig in a rental contract for a year is $15,000 someone is pocketing a boatload of money. My guess is it would be the Original poster on this thread.
xctraveler
Explorer
Jun 11, 2016
You would also need to set up a small business to handle the transactions and collect any taxes your locale requires and report the income on your tax return.

If you skip all the "formal" stuff, you have no protection if a renter runs off with the unit or wrecks it. Yeah it's stolen, but how did they get their hands on it to drive it off. Explain it to your insurance company.

Of course I am biased since our unit is HOME.
crasster
Explorer II
Jun 11, 2016
YES. I would rent the Toyota C for that. :) I would just need 1 year up front. The bounder - no.
BigSkyBob
Explorer
Jun 11, 2016
I would rent my rig as long as they gave me $180,000 up front cash deposit. Otherwise no way hose A.
Jarlaxle
Explorer II
Jun 11, 2016
After some thought...I would. I'm not all that concerned about adding mileage (have 330,000), and it's built to be used.
Effy
Explorer II
Jun 09, 2016
As someone who has owned an RV rental business, my advice would be no. Unless you aren't really attached to it. RV rentals is a business, plain and simple. Trying to comingle business with personal items always ends up bad. If you want to make money in RV rentals, start an LLC, buy a cheap stripped down C or entry A, and have at it. Otherwise your personal RV will end up used and abused. RV rentals is a cash heavy business but the RV's heavily depreciate. Miles add up quick and use gets accelerated. This all translates into a high mileage, well worn coach in a very short time. Trying to sell it is tough unless you subtract all that depreciation from your price. There is just really no up-side to doing it with your personal RV. Like I said, it's a business and should be approached that way if you have the inclination. You also lose your faith in humanity really quickly. People are pigs and could care less about a "rental" despite what you charge them for damage and cleaning.
Empty_Nest__Soo
Explorer
Jun 09, 2016
I will use our motorhome as overflow guest space as needed (we have full hookups in the back yard), but I would never consider renting it. I'm retired and on a fixed income, yada, yada, but I can do without the extra money and I value it too much to take that kind of risk.

Wayne