Introduction 

Since the start of the pandemic, people all across the planet have been looking for new and innovative ways to make money. One of the more common ways that many turn to try to earn an extra buck is by renting out their houses or their cars. 

As traveling to foreign countries has become more expensive and dangerous due to the Coronavirus, more Americans are opting to tour their own country. As a result, a new trend has surfaced, with many people deciding to rent out camper vans, otherwise known as RVs. There has been a surge in demand for RV rentals, as many families look to tour the countryside with a vehicle that allows them to carry all their camping needs. 

Rent out your RV for a little bit of money 

For some retirees, buying an RV seemed like a good investment, as they wanted to travel the country. After touring a few places, the sense of adventure died down, and the RV stayed home, powered down and unused — despite millions spent on the beloved camper van. 

Deciding to sell the camper van would mean a terrible return on investment, as these retirees could not possibly get the full value that they spent on the vans. Thus, some started looking into renting out their camper vans, and just as luck would have it, there has been a renewed interest in the RV rental market as of late. 

Typical renting platforms include online RV rental sites. Fret not, most sites make the process safe for both owners and renters. Both parties would meet up at an agreed location to manage the vehicle maintenance and hand over the keys. Rental sites would then manage the bookings, payments, and the camper van insurance. 

The Coronavirus Boost 

While the RV rental business was already thriving pre-pandemic, things picked up even more when the virus struck. With many wanting to avoid the fuss of traveling due to the strict restrictions, RV renters started to see more bookings by eager travelers inspired by wanderlust. Instead of cruising, camping became a big trend, resulting in a sudden sharp increase in the number of people opting to rent RVs. 

Especially since hotels across America started canceling on their guests, there was a greater need than ever for on-the-move homes. While the typical renters at RV rental companies tend to be familiar faces, the advent of the pandemic has seen a rise of first-time renters wanting to try out camper vans for themselves to see what the fuss is about. 

However, this also meant those camper van owners had to spend more time explaining to these first-timers how to properly operate the van and take proper care of the van. This might cause more worry for the owners too, especially as they are entrusting an expensive vehicle to the hands of a stranger. 

The true earnings you get from renting out your RV 

There are several estimates about how much one can earn by renting out their RV, the final figure is an estimate, and would fluctuate based on demand. Owners of Class A RVs — the biggest, most glamorous of the lot —  can make up to $60,000 annually on their site, the truth is that there are plenty of hidden costs involved in renting out your vehicle.

Firstly, RV rental sites charge you a commission, which usually comes at a 25% cut from your final earnings. This may seem like a lot, but using an RV rental site definitely allows you to broaden your customer base. 

Secondly, ensuring that your RV is working completely fine entails that you need to do frequent maintenance and make sure it is properly insured. If you’re making monthly loan payments, you might end up paying a lot in interest and fees, which might cut your eventual revenue significantly. 

Thirdly, the overwhelming size of a typical RV means you need a huge space to store it, and this can be costly if you don’t own a garage to store it. This can add up to at least $1,500 in parking fees, and if you live in a built-up area or own a bigger RV, you might end up paying much more than that. 

However, even after accounting for these costs, renting out RVs is still an extremely lucrative practice. Even owners of Class C camper vans have said that after subtracting their maintenance fees, commission fees, and storage fees — which add up to about $1,400 a month — they can still earn about $5,500 per month for their RVs.

What to consider when renting out your RV 

While renting out camping vans is a great side hustle, there are many things to consider before doing so. 

Firstly, you might want to invest in a higher-end RV as they retain their value much better than lower-end RVs. As they usually come fully equipped with a bathroom and several bed spaces, this added luxury makes them more attractive to renters. 

Secondly, maintaining an RV is hard work. Aside from regular maintenance, the van must also be properly cleaned after every rental, and tools such as power washers and vacuums must be used to clean the van properly. This process is time-consuming and might take hours. Coupled with the time needed to explain to new renters how to operate the van, it is safe to say that renting out an RV is a time-consuming hobby. 

Thirdly, your RV is likely to return home in poorer condition. When entrusting your vehicle to a bunch of strangers, especially first-time renters of RVs, it’s more likely than not that these renters are unfamiliar with the build of your vehicle. Expect your van to return with scratches, so don’t be too emotionally attached to your van — and accept that it might come home less than perfect. 

Conclusion

Renting out a camper van can bring many families on an adventure of a lifetime, while you prepare your wallet for your own future adventures. However, not everything is sunshine and roses when it comes to renting out your home-on-wheels to complete strangers, and we hope that our list has been helpful in showing you the things you should consider before renting out your RV for a little extra cash.