Renting out your RV can be a lucrative business or extra income generator. On the flip side, it can also be a fast way to lose a lot of money. In this article, we’ll talk about ways to avoid losing money when renting out your RV.
The biggest risks that come with renting out your RV are your RV getting in an accident, lost, or destroyed. Unless you have proper insurance, and even sometimes if you do, you could potentially lose a lot of money. To avoid this loss, we recommend taking the following precautions:
- Make sure you have commercial coverage that will pay in case a renter damages or destroys your RV.
- Spend considerable time making sure that all operating systems on the RV are in good shape. This includes the gas lines for the stove and furnace, your electrical systems, your plumbing systems, and your slide-out mechanisms.
- Make sure the RV protected against the elements and take steps to “renter-proof” it. This includes taking steps like adding toppers for the vents on the roof to prevent hail damage or water damage should a renter forget to close the vents during a thunderstorm.
- Recognize that you have a lot of competition for renting an RV. Create a plan to generate leads and connect with customers in a way that creates long-term value for you and your business.
RVPlusYou.com is here to help you make money renting out your RV and avoid losing money in this business. The easiest way to lose money when starting an RV rental business is to lose the RV to damage or to not rent the RV enough to make real money. This is why we offer full insurance coverage during the rental plus a steady stream of potential renters who want to use your RV.