Top Ten Best Things To Do To Rent Your RV To More, Better Renters
When you rent your RV out, you create an additional revenue stream and help with the financial burden of owning a RV. A RV you own but cannot or do not want to use costs you extra money in annual maintenance fees or loan payments, if your bought it with financing. Renting out your RV is possible for most RV owners, as long as the required planning and work to find a suitable renter are done correctly.
With that in mind, here are the top ten ways you can improve your RV Rental business, and grow your rental RV revenue.
10) If your RV is being rented in a Park-and-Enjoy capacity, then contact the RV Park management office. Ask if they allow rented RVs to use their RV Park facilities, and if so, request a copy of the RV Park’s rules about rental RVs. Read the rules carefully and familiarize yourself with them. Not abiding by current resort rules may result in fines, or even the loss of your RV.
9) Clean your RV unit well, and regularly. Contact the RV Park and ask them if any cosmetic repairs need to be made to your RV, for example: Does your RV need as an aesthetic touch-up or do you need any parts replaced? Remove clutter to maximize the apparent and available space, and make sure this is always done before prospective renters visit.
8) Visit the RV Park’s management office. Ask for a list of recent RV sales in the RV Park and for the names of any RV broker or RV Rental Agencies that sell RVs in the RV Park. Ask the management staff to see if you are permitted to publish ads for your rental in a specific area of the RV park.
7) Calculate the rental rate for your RV. Review the sales data you get from the management office. If relevant, contact local RV brokers and RV Rental agencies to get sale and listing prices. Review the price data from the other RVs that have features similar to yours, like the number of bedrooms, appliances included, etc. If your rental price is too high for the RV Park, it will be more difficult to rent out your RV. Of course, renting out your RV for too low a price could result in you losing money. Factor in all of the fees that you pay for your RV when you set the price. Be sure to include things like the yearly maintenance charges.
6) Create a rental agreement. Make sure all of the terms of the rental are included, such as the rental rate, due date, RV Owner details and RV Renter details. Clearly specify a time and date schedule for the guaranteed availability of the unit to the renter. Include any other provisions you think are necessary for the rental agreement. Be sure to check state laws if you are unsure about any terms you wish to include, and any other legal matters that may affect your RV rental business.
5) Advertise your RV rental. Use word-of-mouth marketing (aka: telling your friends, colleagues, and other people about it, directly) as well as traditional
print advertising methods, and on sites like FlowRV. Be sure to include any special features your RV has. Only post your RV ads in the areas of the RV Park where advertising rental RVs is allowed. Contact a local broker or rental RV agency if you do not have the time or desire to promote and show your RV properly. Ask about any service fees before you agree to use an agency to rent out your RV.
4) Show potential renters your RV. Highlight your RV’s desirable features, for example, location (for parked RVs) being near the local golf course.
3) Obtain a background check and credit check on your potential renters whenever necessary. Be sure to get signed disclosures allowing the checks to be run from the possible rental candidates before doing so. Background and credit checks help you identify undesirable renters and prevent fraud, and other problems.
2) Contact a lawyer to review and approve of your rental agreement, especially if you are unsure about wording or other legal issues.
… and the #1 tip to renting out your RV to more and better guests is:
1) Choose a renter. Sign the rental agreement you drafted. Always make an effort to Overdeliver a little bit. The impression it leaves, the good reputation you’ll earn and extra business it brings you, will be worth far more than the effort.
Follow these key tips, and you should see your RV rental business begin to grow nicely over time.
Have you tried any/all of these tips? How did they work for you? We’d love to hear you from about it. Please let us know in the comments below, how they worked (or didn’t work) for you.
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