RJL wrote:
Thank you for the input all. Truth be told, I'm thinking of selling our MH and would just about break even. This rental thing has me thinking though. Maybe make a bit of money with it.
You'll make money but at what cost? Overhead plus depreciation will eclipse any profit you would make selling it outright.
Ex, your rig is over 10 years old. If you make a few grand renting it but it depreciates (wear and tear, damage) beyond what you can now sell it for, plus the cost of doing business and repairs, why bother?
Unless you don't care about it and are ok with renting it til the wheels fall off and then sell it for pennies. But you won't make more net cash on the rental than what you would sell it for now. You'd have to rent it non stop for a year and a 10 year old RV won't survive that.
Rental companies buy stripped down RV's, rent them for a few years and sell them at wholesale prices. Built into that model is all the overhead I mentioned before. That business model doesn't really align with leveraging an older, production, consumer owned, RV.
On edit: you also have to consider whether people will want to rent your RV. It's 12 years old. No offense but there are a lot more newer RV's out there for rent so I think to make it attractive you'll have to rent for less than what your competitors are. That will invite a clientele you don't want.
