RVshare, a leading peer-to-peer RV rental marketplace, is encouraging RV owners to rent their vehicles amid unprecedented increases in RV rental demand for summer travel.
Recreational Vehicle bookings through RVshare have nearly tripled since last year and are up more than 1,600% from early April. Many Americans are eager to take a vacation this summer, but wary of traditional hotels or resorts. The U.S. Travel Association reports that only 18% of travelers would feel safe staying at a hotel or resort. The same percentage of travelers (18%) cite a concern for air travel as well.
The majority of the millions of RVs owned in the U.S. are only used for two weeks every year. RVshare enables owners to profit from the time their RVs sit dormant, with the average owner garnering $16,000 per year in rental income4. Depending on the type of vehicle and frequency of rentals, owners can stand to make upwards of $60,000 per year on a single RV.
“During this time of uncertainty in the world of travel, more and more families are renting RVs for their summer vacation,” said RVshare’s CEO Jon Gray. “RV owners and those interested in buying an RV can take advantage of this wave of demand to put a bit more cash in their pocket, or to help supplement income in this time of financial instability.”
From a survey of RV owners renting on RVshare, the company found that more than half (51%) of owners 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 cost5.
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 year4. 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 RVshare4.
For RV owners eager to take advantage of the increase in traveler demand but wary of handing the keys over to a stranger, RVshare employs several tools and features to protect vehicles and their owners:
Insurance: Owners are provided $1,000,000 in liability coverage, as well as comprehensive coverage of up to $200,000 with no startup costs, fees, or premiums.
User Verification: RVshare requires renters to submit a valid government issued ID and does not allow bookings to take place or for a renter to see owner information or specific RV location without verification.
Secure payments: RVshare securely handles and deposits all payments directly to the owner’s bank account.
One-on-One Rental Coaching: On-the-phone coaching support is available to owners to assist with setting up the vehicle listing, fielding questions, and offering guidance to aid in successful renting.
24/7 roadside assistance: Every rental booked through RVshare is provided 24/7 roadside assistance, including towing.
“We are looking forward to seeing more owners sharing the unique experience of the RV lifestyle, creating lifelong fans, and enabling American families to enjoy road trips, state parks and coastlines this summer,” Gray said.
Additional information on owner resources and how to get started renting an RV can be found here.
