Owning an RV comes with loads of advantages. For one, you can use it to control wherever you go and what you want to see. You have the luxury of even choosing where you want to sleep. The only downside, as with all other motor vehicles is that you have to pay the insurance, taxes, licensing and other bills. There are ways to make the most use out of your RV by allowing it to make you money. What if you could rent out your RV and earn money from it as your second income? Well, this is possible, and many RV owners have now taken to it.
This is especially a good idea to adapt to when you are one who only uses your RV maybe once or twice in a year and the rest of the time it is usually just lying around and relaxing.
You have the opportunity to create a new source of income. However, there is always a risk to this rental business, which is why insurance coverage is most likely a good idea.
Uber for RVs
If you do some digging, you will realize that RVs also now have a peer-to-peer entity like the RVshare.com website. By 2015, over 9 million household owners in the United States owned an RV, reveals the Recreational Vehicle Industry Association.
How much would you get from your RV?
The amount of income you can potentially earn usually depends on the type of RV that you own and the location in which your RV is situated. For example, you can make somewhere between $75 and $175 in daily rental fees for Class C RVs and a range of between $150 and $300 in daily rentals for Class A RVs. This is very good money that you can use to manage and deal with other expenses as well as finance other businesses. You only need to be smart about it since there is not much work to be done. At most, all you have to do is hand out your RV keys to the people renting and expect them to pay you handsomely.
After enough research, you will notice that many of the RV owners that rent out their RVs can make up to $17,000 in a given year. There have also been cases where some RV rental owners have earned close to $68,000 in income from one year alone. This sounds like some seriously good money to pass up when you can also benefit from it. Most of these RV owners who rent out their RVs have claimed that the income they get from it usually pays for their vehicle’s monthly finance payments. On average, an RV owner who rents out his/her RV will earn between $10,000 and $20,000 in annual extra income on the side as they concentrate on other businesses.
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