Want to make money with your motor home or are you thinking about purchasing and want to offset the costs? We rent RV's that are owned by individual people like you. We have a program that allows you to make money on the rental of your unit and be able to use it anytime you want.
We share the rental charges 50/50 each. That means if a rental is for $1600, then you get $800, and we get the other half. What we do with our half is advertise your RV, book rentals, do routine maintenance, verify insurance, collect the rental fees, and instruct renters on how to use the coaches. In addition, we clean them after each rental, and store them when they are not in use, and much more. I am sure you have a lot of questions so let's answer some of the most frequently asked.
We have found that there are primarily three types of renters. First, there are people who want to rent the best coach they can. They want clean, well-maintained motor homes and will look until they find one that meets their standards. Next, there are renters that want or need specific types of coaches, A or C, or travel trailers and toy haulers. Lastly, there are those who are looking for the best deal they can get. Mostly, it is people who are trying out renting before they buy, or people who only use a RV once or twice a year and renting is more economical than owning.
My family and I have always gone RVing since I was a kid. I have purchased every RV there is, including cab over campers, tent trailers, RV's, and trailers. I was always asked what the best RV was, and I couldn't really answer that question. They all have pros and cons and there is no perfect RV. So I decided to give clients the opportunity to try several different makes and models of RV's so they can decide themselves which RV is right for them.
While the amount you make will vary with the type and age of your unit, my personal experience has shown me to make over $15,000 in one year. While I cannot guarantee any amount, it will more than pay for the loan, insurance, and even your cost of using the unit.
I firmly believe in regular maintenance and that is one of my major goals in renting motor homes for individual owners. We maintain a rigid schedule for all maintenance needs, including cleaning. These charges are split just like the rental income amounts.
You can use it whenever you want; it is yours, as long as it hasn't been reserved by a renter. We recommend you "book it" in advance to assure that it's available when you want to use it.
When you rent out a motor home your personal insurance will not cover rentals. This is why we require insurance binders because, unless it's listed on the renter's insurance, it will not be covered. What I recommend is that you give up part or all of your 50% as a discount for your friend and let us rent it to them so that you and your coach will be covered.
Most people want newer motor homes which is why we charge more for the newer models. If renters had a choice between a 1999 model and a 2005 model they will choose the newer one. That does not mean you cannot still rent the older one, you simply discount it to a rate that makes it more appealing. The life expectancy depends on the market.
The hardest question to answer. The insurance business is complicated, but I will try to simplify it for you. Regular insurance like AAA or State Farm will cover you while you drive your motor home. It will, in most cases, cover your friend who has borrowed it. But the minute you take any money, for whatever the reason, it will not. If you are loaning or renting it for money, than it is considered commercial and you need commercial insurance. This is very expensive, so much so as to be prohibitive. I have had quotes as high as $10,000 a year per motor home. We have found the way around this is to require renters to bind their insurance to cover the motor home. Most companies will do this for a small fee, of course. It is our job to not only make sure the policy will cover the motor home, but to make sure the limits are high enough to cover the coach and then to verify it the day of rental.
We do have all Trailers covered by a commercial policy that covers it while in our possession and while it is being rented. This policy will allow you (the owner) to cancel your existing insurance policy because this one will cover you when you are using your trailer. The cost for this policy is a bit more expensive that your traditional policy, but it ensures you full coverage against damage or injuries from a renter.
Accidents will happen, be prepared. Renters will bump into things, other vehicles will bump into them, they may scrape the roof on branches, have rocks break the windshield, blow tires etc... But rest assured, any and all damage cause during a rental will be fixed at the cost of the renter. If the cost of the damage exceeds the retained deposit amount, an Insurance claim will be filed so that your RV remains in the same condition as when you gave it to us.