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way2roll

Wilmington NC

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Posted: 10/05/21 06:48am Link  |  Quote  |  Print  |  Notify Moderator

So many threads on this topic already. General consensus, don't do it.

As someone who used to own an RV rental business, it's just that, a business. People who rent personal stuff usually end up very disappointed an amazed at the damage and depreciation. If you want to rent RV's, start a business and be emotionally detached. If you bought an RV for personal use, then do that. The two don't mix.


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rhagfo

Portland, OR

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Posted: 10/05/21 07:16am Link  |  Quote  |  Print  |  Notify Moderator

Renting out is a great way to allow one to buy a full ownership condo, that is located in a unit that is managed as a hotel, BUT I would NEVER let a strange rent my RV!!!


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way2roll

Wilmington NC

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Posted: 10/05/21 07:46am Link  |  Quote  |  Print  |  Notify Moderator

RetiredRealtorRick wrote:

I guarantee your current insurance will not cover it. Look into insurance specifically to cover the renting of your RV, then make your decision. I think you'll be surprised at not only the limited availability of such coverage, but also the high cost of it (that is, if you can find it at all).


There are 2 kinds of RV rental insurance. When we had our RV rental company we used commercial insurance. Required $1MM in liability and the only game in town is MBA. For an entry level class A it was about $500/month per unit. I would assume for a TT it would be less. This covered the renter and nothing else was required from them. Seems like a lot, but when renting a Class A for $300/day it just becomes a cost of doing business. Also, many insurance companies will allow the renter to add a rider to their policy when renting an RV. It's fairly inexpensive and shifts the onus to the renter. The owner still needs to carry some sort of insurance to maintain tags and registration. It would be a good question to ask of these rental management agencies how they handle insurance. They may forego the cost and make it a requirement of the renter to add a rider.

As I stated before, RV rentals is a business. Insurance is just one example of the details required. And you have to ask yourself, if I were in the headspace to rent my RV, why would I pay a company to manage it for me? Cut out the middle man and rent it yourself. If you provide the insurance, MBA gives you all the paperwork and contracts. I still wouldn't do it with my personal RV. It's a cash heavy business for sure. But the wear and tear, depreciation, damage, smells and not being able to use your own RV ruins the experience for just about anyone trying it. As many times as this topic comes up I have never seen anyone claiming that renting their personal RV was a great experience.

ReneeG

Meridian, Idaho

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Posted: 10/05/21 07:51am Link  |  Quote  |  Print  |  Notify Moderator

No way we would consider this.


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Deb and Ed M

SW MI & Space Coast, FL USA

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Posted: 10/05/21 08:51am Link  |  Quote  |  Print  |  Notify Moderator

The rental companies can claim their customers follow the rules - but I'll never forget being parked in the infield at Mich Int'l Speedway and seeing a rented Class C with 10 people all standing/jumping on the roof

Gdetrailer

PA

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Posted: 10/05/21 10:33am Link  |  Quote  |  Print  |  Notify Moderator

Subject comes up pretty often.

RV rental managers put a pretty good spin to their advertisements to entice folks into handing over their RV in return for some money.

The Rental managers have zero invested and act as the middle man for the transaction, they assume zero liability, zero risk, zero loss if things goes sideways.

I once had a Supervisor that bought old run down city buildings to rehab into apartment rentals.. At one point he owned 2 city blocks worth of buildings.

Sure, he made money for a few yrs but he was constantly battling damage and repairs from the renters.. Oh, the stories he told about the aftermath of the messes which are not repeatable on this forum..

Keep in mind, if he bought property and then built new buildings, he would have gone bankrupt! He was able to make money because he bought much of the properties on Sheriffs sales which were defaulted on taxes or loans.

Last time I talked to him 5 yrs later, he was in process of unloading all of his rental buildings, said the money was good but the hassle and intrusion in his life was not worth it.

I know it grinds on folks to have spent so much on a RV that sits for 95% of the yr doing nothing, but RVs degrade fast enough with care from the actual owner. I can't imagine how much faster a RV will degrade after a couple of rental trips with folks that have zero invested interest in your RV..

If you want to try renting a RV out as a business model, you will be money ahead to buy a older well used RV for cheap and fix only what needs to be fixed as needed.. When it becomes cost prohibited to keep up with repairs, sell it off cheap and find another cheap used one.

RedRollingRoadblock

Oregon

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Posted: 10/05/21 10:42am Link  |  Quote  |  Print  |  Notify Moderator

Pass the popcorn, please.

Lwiddis

Near DVNP, California

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Posted: 10/05/21 11:11am Link  |  Quote  |  Print  |  Notify Moderator

I agree...our TT is our TT....we don't want strangers in our TT sleeping in our bed.


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2012Coleman

Florida

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Posted: 10/05/21 11:16am Link  |  Quote  |  Print  |  Notify Moderator

If your interested in renting your RV, check out RVShare.com. You don't hand it over to some company. You can even opt to take it to the CG and set it up, and take it down and home afterwards. The people next to us at Stone Mountain this year rented. They left and the owner came and cleaned it while still hooked up. And all the warnings stated here are covered.

Not everyone who rents is sub-human like people here seem to think. At the end of the day, its your RV and you get to decide how to use it. Just tell your renters to shut the porch light off at night... [emoticon]


Experience without good judgment is worthless; good judgment without experience is still good judgment!

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IAMICHABOD

Sunny So Cal

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Posted: 10/05/21 11:19am Link  |  Quote  |  Print  |  Notify Moderator

There have been a few on this forum that own Former Rentals and have done that and seem to be happy with it and the way it helps pay for their RV. Here is one example

They list on RV Share and seem to do very well. They also list on Outdoorsy as do many other owners of Former Rentals,Here is a listing for some of them You can search in your area just put in the search Majestic.

On a personal note I have run across a few campers that had rented them thru RV Share and Outdoorsy. One told me that the person that he rented from had 2 Majestics that he rented out.

One trip recently,a Chinese couple parked one space away from me and I happened to ask how they liked their Former Rental.

I was surprised when they told me that they had rented from a man in their Chinese Community that had 5 of them and rented mostly within that community. They told me that they had reserved months in advance just to get an open spot. I seemed that he was doing very well.

It is a risk that some are willing to take.


2006 TIOGA 26Q CHEVY 6.0 WORKHORSE VORTEC
Former El Monte RV Rental

Buying A Rental Class C


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