(NAPSI)—Millions of Americans who own an RV have it parked in their driveway or a storage facility for the better part of the year. With many families wary of airplanes and hotels these days, it may be time to consider renting your rig to make some serious cash.
According to peer-to-peer RV rental marketplace RVshare, RV bookings have reached unprecedented levels of demand, increasing more than 1,600% since the beginning of April and already tripling 2019 figures. As a result, RV owners are poised to capitalize on the surge of families discovering the unique and adventurous nature of RV travel for the first time.
In fact, the average RV owner who rents on the RVshare platform can earn up to $60,000 a year in rental income. The amount of money you can make from renting your RV can vary based on the type of vehicle you own.
The most in-demand rentals on RVshare are Class C vehicles, which strike a great balance between features and price, making them popular with first-time renters. Class C rentals have an earning potential of $38,000 a year. Class B vehicles, or camper vans, are the fastest growing in popularity on RVshare. With demand skyrocketing for these units, Class B rentals can earn up to $30,000 a year when listed on RVshare.
“During this time of financial instability, an RV can be converted into a significant money-making asset that many owners may not have previously considered,” said RVshare CEO Jon Gray. “For those who do not own an RV, now may be the time to invest. It’s not just pocket change that RV rentals can bring in.”
You can offset much or all of the cost of RV ownership from rental income. A survey of RV owners found that more than half (51%) are able to cover 76% or more of their RV’s financing cost through renting to travelers, with more than a third (35%) covering all or more of their financing cost.
RVshare’s Earnings Calculator can help evaluate the income potential of renting your RV, and to ease the minds of those new to the practice, RVshare provides owners with several tools and features to protect vehicles and their owners including:
•$1,000,000 Liability Insurance
•One-on-One Rental Coaching
•24/7 roadside assistance
Additional information on how to get started renting an RV can be found at https://rvshare.com/list-your-rv.