Renting out your RV

Yes, our RVs are like our homes and a very personal space.  But the new sharing economy is changing the way we view our possessions.  People are preferring the experience over the ownership.  This economy operates as a community market place where both guests and hosts create profiles, review and rate each other. So, reputation capital keeps everyone in check, weeds out potential misbehavior and inspires trustworthiness and friendship.  Look at the success of www.airbnb.com and www.uber.com both over 20 billion dollar companies in less than 10 years.  Something to think about...

firehog said:

Hello,  I recently retired and want to buy a RV to travel through the States, but would also like to rent it out when it is not used.  Does anyone know of any Insurance companies that carry a commercial type of insurance so you can be covered when someone is renting from you?  I see a lot of ads where folks rent out their RV and request proof of a binder from the renters insurance company for the specific time it is rented, but I want to have a back up insurance anyway.

I know commercial insurance is quite a bit more expensive than normal insurance but it should be less expensive if you have a binder from the renters insurance company.

I stopped in at a local Independent Insurance agent and he didn't know of any insurance company that provides commercial insurance as such described above which I find odd.

Thanks, Ray

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Ray, read this thread.
http://www.rvforum.net/SMF_forum/index.php/topic,87193.0.html
Bill

Once again, as in a similar thread posted currently, I'll try to be nice.  I think you're being incredibly naive if you think people who have worked extremely hard their whole lives to own an RV will turn it over to a stranger who knows nothing about how to drive it, park it, or has knowledge of the sometimes intricate workings of the applicances, inverters, converters, solar systems, black and gray systems, water systems, etc.  Your comparison to Uber is absurd!  Those people drive their own cars while picking up whoever to take wherever.  I doubt many of us would choose to do that, either! 

GoRVnow said:

But the new sharing economy is changing the way we view our possessions.

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Seriously?  New Sharing Economy?  Sounds like a hippie commune.  And I view my possessions today the same way I always have....as MINE.

I can only maybe imagine someone renting an RV out if they never use it anymore, or maybe something they use once a year for a tailgating game.... something like that.
and more likely a TT, not  MH

Frizlefrak said:

The term is called "Conversion". 

I won't go into a ton of detail, but I manage a large car rental operation for a living.  Given only two choices, I would sell my RV at a massive loss before I would rent it out.  I could tell you enough stories about rental car abuse to fill a 10 volume compendium.....I can only imagine what this caliber of human would do to an RV.

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Does this 'Conversion' rule apply to the rental car companies, i.e. if a vehicle is not returned, the law will not treat it as a theft and apprehend the perp?  Seems like the theft rate would be astronomcal if that is the rule.

GoRVnow said:

Yes, our RVs are like our homes and a very personal space.  But the new sharing economy is changing the way we view our possessions.  People are preferring the experience over the ownership.  This economy operates as a community market place where both guests and hosts create profiles, review and rate each other. So, reputation capital keeps everyone in check, weeds out potential misbehavior and inspires trustworthiness and friendship.  Look at the success of www.airbnb.com and www.uber.com both over 20 billion dollar companies in less than 10 years.  Something to think about...

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Now I know for sure that I am totally out of touch with the current generation.  I saw a story about UBER yesterday and it detailed the histories of some of the drivers -ex-cons, sex offenders, and folks I would not care to ride with.

Frizlefrak said:

Seriously?  New Sharing Economy?  Sounds like a hippie commune.  And I view my possessions today the same way I always have....as MINE.

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X2

I think there is a substantial "sharing economy" out there, and GoRVNow is trying to cash in on it. Some people do trade swap their houses & apartments, share rides,, etc.  I just do not care to be part of it, for all the reasons others have cited.

Most of the people responding here are frequent RVers and it probably makes little sense for any of us to rent out an RV for the occasional week or two when we aren't using it. Part of the attraction of owning an RV is so that we don't have to pack & unpack each and every time you want to take a few days off.  That's not so much a factor if you only use the RV a couple weeks each summer, so a rental service makes more sense for that type of owner.  It's just not me.

There is no way I'd rent mine out; commercial insurance policy statement or not.  I could end up paying more for repairs than the small amount I'd get renting.  Plus the liability I'd be responsible for by being the owner of the rig in this very litigious society we are living in today. 

Marsha~

Bill N said:

Does this 'Conversion' rule apply to the rental car companies, i.e. if a vehicle is not returned, the law will not treat it as a theft and apprehend the perp?  Seems like the theft rate would be astronomcal if that is the rule.

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Yes.  I was a manager for one of the big boys for 18 years.

To be clear....conversion is a crime, and yes the police will seize the vehicle and arrest the perpetrator.  It doesn't carry quite the same legal gravity as out right theft, but conversion is a felony, and they can draw substantial prison time for it.

Losses occur one of two ways....theft, ie the vehicle is stolen off the lot, from a customer, or internally (by an employee).  The second way is conversion.  Neither is all that common, and it wasn't unusual to recover a vehicle two days later......or sometimes years after it went missing.  Sometimes someone rents a car for two days on a cheap weekend rate knowing they will need it for a month, but can't afford the month.  They keep it for the month and then dump it on the lot in the middle of the night, or sometimes leave it at Wal-Mart, a mall, etc and just abandon it.

What DOES happen a lot is someone rents a car and then loans it out to a friend, relative, etc.....who absconds with the vehicle.  To answer your next question, the renter is potentially on the hook for the full retail value of the vehicle, and when (if) it's recovered, they're on the hook for the entire time it was gone plus any damages and the down time to repair them.  I've seen cases where someone rented a car for a weekend, loaned it out, and they were bankrupt 3 months later. 

Gary RV Roamer said:

I think there is a substantial "sharing economy" out there, and GoRVNow is trying to cash in on it. Some people do trade swap their houses & apartments, share rides,, etc.  I just do not care to be part of it, for all the reasons others have cited.

Most of the people responding here are frequent RVers and it probably makes little sense for any of us to rent out an RV for the occasional week or two when we aren't using it. Part of the attraction of owning an RV is so that we don't have to pack & unpack each and every time you want to take a few days off.  That's not so much a factor if you only use the RV a couple weeks each summer, so a rental service makes more sense for that type of owner.  It's just not me.

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Thanks Gary for your views.  Maybe www.uber.com was not a good comparison but https://getmyboat.com/  is  (Boats have high ownership costs with sometimes little use).

35,000 boat owners in 143 countries have signed up to rent their boats.  Airbnb has 1.5 million properties listed in 190 plus countries with over 40 million total guest stays.  That is the new "sharing economy."

GoRVnow said:

Thanks Gary for your views.  Maybe www.uber.com was not a good comparison but https://getmyboat.com/  is  (Boats have high ownership costs with sometimes little use).

35,000 boat owners in 143 countries have signed up to rent their boats.  Airbnb has 1.5 million properties listed in 190 plus countries with over 40 million total guest stays.  That is the new "sharing economy."

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Good for them. I still don't see a upside as an owner. I never was good at sharing.
Bill

Hear is a link to a news/promotional article.
http://techcrunch.com/2015/08/20/millennialsinairstreamsatburningmanasaservice/#.fcpouh:eDCu

If they can make $85,000 a year renting a motorhome why are they not buying a fleet to have a stable supply to rent out?
Bill

Clearly the $85,000 a year was an extreme exaggeration.  Realistically an owner could average $1000 a month renting their RV and maybe more in a tourist destination.  I have shared my campers with people from all over the country and have not had any bad experiences.  Although I deliver and set them up for the renters at campsites that they book.  My sharing has allowed many people to experience camping in an RV that would otherwise never have the opportunity.  Some of the people I've shared with were an 80 year old couple from Minnesota that loved to RV but could no longer handle the driving and setting up at the campground. They have been back three years in a row.  Another time their was a couple from out west heading here to be Work-campers when their rig broke down.  I was able to share mine with them so they could fulfill their commitment while their rig was fixed.  It took about 6 weeks for them to get their rig back.  Others already owned RVs, but it was easier to just show up for a short Beach vacation and have a camper hooked up and ready to go.  Also, many first timers have then went on to buy their own RVs.  I can't see a down side helping others...

I have rented in late '90's some 28 footer class C from individual and the cost was ? $900/week !
The dealers rented the same size and same class for ? $1500/week !


So, I think that you are way OFF the renting price of a rv !

" Although I deliver and set them up for the renters at campsites that they book. "

I kept waiting for someone to say what "GoRVNow" said, which is they can rent it, but they can't drive it. The rental company (person) will drive it and set it up at the campground of their choice, they stay in it, then the rental company comes and does tear down and drive away. If they want to go to more than one campground, there is a set of fees each time it's moved. This would be much more analagous to an AirBnB type setup. 

I see a 'rookie' driver doing terrible things to a 40' DP when they drive a Chevy Cruze to work everyday and haven't ever driven anything like a Class A.  Just staying in it only, well then it's just a case of how messy are they and do they leave things alone (i.e., no gerfinger plinkin of every button they see.) Put a locked door over control panels, slide buttons, etc. With a damage deposit, rental fee, a setup/teardown fee, and a cleaning fee, this really wouldn't be something that a lot of people can afford.  You would likely get a better clientele. Of course the flip side is they are a person who figures they spent ALL that money, they'll get their money's worth and do some damage.  Happens every year in the spring break hotels, bike week, anyplace there's drinking and fun.

Bottom line: I think it's dicey to do it, but if you don't have materialistic attachment to the RV, then it wouldn't matter.

 

Renting isn't for everyone, but for owners like me who can use the extra cash it's worked out really well. I haven't had any problems with renters, most of them return my coach cleaner than when it left. I've had success renting my RV on http://www.rvshare.com/list-your-rv and http://www.craigslist.org. If you want some pointers on things to avoid let me know I have a lot of experience.

Interesting, first post, spent 10 minuets filling out minimal profile and making 1 post. 
I should trust him to be honest about renting out my motorhome for fun and profit.
Bill

Greetings,

My thoughts too Wildebill308 on first post. There was someone here who was wanting the community here to rent out their RV's and it seems to me that they might be trying to paint a picture that might change the minds of some that are thinking about it one way or the other.

One thought over renting might be for two or more people to buy and schedual the use of an RV. You'd have to lay down fair practices. I myself would want an RV in winter time to travel south. Then again in Summer one month. If you could find people wanting the RV at certain times that would not clash, then you might have a workable system that would keep costs down. Everyone would have to pay for maintaining the RV and buying tires, repairs when necessary.

There might be some legal issue to work out. Still not as nice as owning your own and taking anytime you saw fit.