I rented my Class A on Outdoorsy and RVShare

[plasma800]

I’ve thought many times about owning and renting a small, inexpensive , easier to maintain fleet for some added cash

Op I hear you lol, you know a few have to vent on about their personal attachment to an rv and how people have to find out the hard way

[Forkyfork]

The reason the big RV rental chains (and uhaul and car rentals) stay in business is that the renter has to either purchase the supplemental damage insurance or pay for every little scratch and ding. Including breaking the bunk pins.

What you don't realize is when you start making big bucks renting it out (provide you have nothing better to do than repair it) is that that income is offset by expenses. Your time to repair it is an expense and deductible. So basically you pay yourself $XX hr to repair your crap that people break and bring back. So you don't technically lose the money. If played right you could end up with a decent tax return.

With big companies there is a thorough inspection before and after return and some training on devices. There are also unattractive warning signs and instructions everywhere.

Outdoorsy and RV share don't have your back or you wouldn't have had to shell out any of your money or consider making a damage claim for the body of the vehicle. They basically enabled the renters to walk all over you and not instill the you break it you pay for it fear.

The 600 miles? Well, again the major rental companies have the ability to locate the vehicle and charge excessive mileage. (you do too BTW) Again Outdoorsy and RV share not having your back and providing those tools.

You weren't realistic with the costs. That rig is nowhere near what it was after the 3 rentals. So, honestly how much would it cost to fix all the cosmetic damage?

Can it be done? Yes. Can it be done by someone that doesn't have the resources or balls to hold the renters accountable? No. Just like pillows, towels and linens at a hotel. Sure you can take them home with you...but you will pay for them. Be prepared for an argument though.

I have a friend that owns a hotel near a major amusement park. The stuff people do when they don't think they are going to be held accountable. They actually had one group take all the stuff inside the hotel and put it out side and then say they didn't do it.

Would I rent this RV? No, I like it. Would I rent an RV I didn't care about? Sure, there would be some rules for the renters. There are oopsies and then there is willful abuse and negligence.

There would be NO question about who damaged what. There would be a check in and check out. If it was there when they brought it back and not there before then of course THEY did it no quibbling when its documented.

Does the rental process have to be a bad thing? No. Can you do it regularly and still keep your day job? Probably not. Can you make money off of it? Yes, provided you have the skills, personality and resources to keep it all going.

There are several members here that I know could pull it off. They have the skills, personality and ambition that it takes.

[Solo_RV_Guy]

I work in an industry where almost everything is rented - music concert & theatrical touring. The tours/artists (with only a couple of exceptions) own NOTHING but the clothes on their backs (when not on stage, wardrobe is a sunk cost to the tour).


Everything gets abused or used up. I've heard a number of production managers (they guy/gal who supervises all the departments that make the show happen) say "it's a rental, who cares?" I'm talking about sound systems, moving lights ($10,000 EACH, and there are 300 of them), video projection and LED wall displays (LED walls are $1000/sf), staging, etc.


If that's the attitude taken toward equipment that is necessary to present the show, what kind of treatment does lesser stuff receive? The word I want to use will get a moderator edit to my post, but a synonym is "excrement."


I've been on the home (S&B) side of things and even the apparently reliable folks with good credit scores still trash a property, although sometimes in different ways that renters with lousy credit scores or who otherwise come off as dodgy.


Bottom line? All rentals are gambles - all of them - regardless of the type of property you rent - RV, house, tools, etc. Some of the worst treatment will come from family, friends and coworkers.


Based on my experience in other types of rentals I'd not rent my RV to anyone IF I expected it returned in the exact condition it was dispatched. To make money on any kind of rental you need to have a "full time rental shop" mentality with the perseverance and detail orientation to stay on top of repairs and customers. You WILL get screwed at some point, accept that as part of doing business or you'll end up on continuing psychotropic medications...

[Forkyfork]

@ Solo RV Guy

Who covers the costs of the damages? Is it included in the rental costs across board, do they pay for additional insurance? Ive realized doing tech support where you can send someone to a location and it costs the business $400. The employees don't care because it means a) they can be lazy and don't have to turn something off and back on. b) it isn't their money and they think the owners have deep pockets.

And the last comment about getting screwed. Nah, if accounted for properly it helps to offset the hit the income is going to make at tax time. Its called and expense.

[xpartmgr]

So more follow-up to clear up any confusion.

Yes we held the renters accountable and got paid for all damages. Yes they have to pay a security deposit, but it is only $500, so anything above that amount and you file a claim with Outdoorsy. They will get your the money to fix your rig. Yes the renters get insurance with each rental. It is paid for through the fees charged by Outdoorsy. So yes there is coverage. It does not go on your normal insurance, but rather the Outdoorsy provide insurance. Yes if I have to fix something, I charge for my time. If I had to take it to a shop, they would pay the shop rate. So as far as losing money, you really don't, but your rig shows a lot more normal wear and tear. I mean it is getting used a lot!

I read someone said something about those reading this with smugness, yep they sure are. They really have nothing to offer to the thread as they have NO first hand knowledge, but it won't stop them from "telling" you how right they were. What they don't understand is that I made really good money and all damages were paid for. So YES I made that amount. Did my generator have more hours? Sure and I charge for that. Does my coach have more miles? Sure and again I charged for that.

I want to clear one more thing up. I don't need to make money on this rig to own it. Not even close! My wife and I are both well paid and plan to retire early as we have saved to do so. Part of the plan to be able to retire early is zero debt, renting this RV makes that goal get here sooner.

Some have said if they don't like it they would rent it. Frankly, I don't like this rig all that much. It is cheaply made and not in line with what we really wanted. We also didn't know if we would enjoy RV'ing, so this less expensive rig was the right choice to test the waters. Now that we know we enjoy RV'ing, we plan to buy a Leisure Travel unit when we retire (unless there are nicer ones out there in 5-7 years). So this RV was nothing more than a trial rig.

So why did I write this post? Because I know when I researched renting ours, I couldn't find a thread with actual people who have done it. Nope, just a bunch of people without any first hand knowledge providing their opinions. I didn't want opinions, I wanted facts! What I have given are the facts for the next person who is considering this.

Frankly now that I have calmed down and ordered the replacement parts, with the money I took from the renter's security deposit, I plan to continue renting this unit. With a few small changes.

I won't rent it for less than 5 nights. So that is $1100 for me. This amount is my actual payment for the rental with Outdoorsy already taking their amount. So yes I profit $220 a night. I also plan to demonstrate that stupid powered bunk better. I can't figure out how every single renter has managed to rip the rings out of the pins! Gees!

Now what do I have to do each rental?
We have to clean the inside and outside if it needs it. Generally is is just power washing the front.
We launder all the linens.
We have to meet the renter at hand-off and drop-off.
We have to repair anything that got broken during the last rental.
We have to handle any breakdown situations, if they arise.

So if you are considering doing this, you will make money! Actually quite a bit of money. But you will pay for it in wear and tear and resale value (although these things have crappy resale values anyway).

So if anyone has specific questions please let me know.

[Dutch Star Don]

I was lost with this story from the opening post. First, any post that tells me what to do before I even finish reading it is a turn off.

There are just some things in life I don't have to personally experience to know the outcome. If I jump off of a ten story building, I'm going to die. I don't need to actually do it to figure this out.

I think anyone on here who owns an RV knew the outcome of your experiment, long before you did!

Your post would have been MUCH more interesting if it started out by saying.....I know many would never rent out their RV, but here's what happened when I did. Then lay out the trials and tribulations of renting to people and how they treat the property of others.

In actuality, there are a lot of people who buy 4-5 inexpensive RV's (TT's) and rent them locally, delivering and setting them up.

[Peto]

Can I rent it next week?

[Forkyfork]

@ xprtmgr

I think the reason people are smug about your outcome is because it was documented very negatively and did not present the resolution of how the damage expenses could be effectively managed.

You sounded overwhelmed by the whole experience, that it left a bad taste in your mouth, you felt taken advantage of and you would never do it again.

I think renting out an RV could be lucrative. Find out how you need to manage your asset (RV) to your advantage. The depreciation and expenses can offset your income. Document document document. Get with a good CPA and make a plan to do it right.

I would make sure I was operating an LLC and disconnected from liability. I would make sure the LLC owned the rig and not me. I would imagine there is some protection by taking part of the rental services but I would still cover my beans. I would also find out what your litigation resources are. If someone tries to sue the RV rental companies and YOU who pays for your legal fees. Make sure you understand your agreement with the rental places. This isn't a B&B, somebody could kill themselves with a blown tire. How will that play out. I was in the process of buying a gas station. When the owners books didn't work out to support what they were asking and they wouldn't adjust their selling price it cost me several thousand just to get my deposit back and that was simple paperwork shuffling by a lawyer.

I would also be concerned my traditional insurance would leave me high and dry when they found out it was a rental.

What do you do if the rig gets damaged and you cant make it available for the next renter? How do you make it right? I would be paranoid and probably never have back to back rentals.

About that bunk. First, incase you haven't figured this out, people are . Some people lack any mechanical sense and don't understand cause and effect. Those are the ones that get hurt doing something you could never imagine anyone doing or break that whatever because they pulled instead of push.

Here may be a resolution for the bunk. If it uses a switch AFTER the pins are removed I would put a keyed switch in and secure the key to the pins so they have to remove the pins to use the key to move the bed. Or more of a project for you, come up with an alarm that goes off if the pins aren't removed before the bed moves.

The slides are another scary area where people can do some damage to themselves and their things. I don't know how many times I have had to clear the area where the bedroom slide lands because my husband didn't realize it slides in that far in the hallway.

Good luck and don't let the naysayers get to you. Just cover your apples and have a disaster plan in place.

[Craig1960]

I don't know why you are so against hearing people's opinion who haven't actually haven't tried the rental thing with their RV. Just because you haven't done something doesn't mean you don't have a clue of what you are talking about like you are implying.
I haven't done it but I have a good idea what to expect even before I read your story for a couple reasons.I have a friend who was looking into it until I introduced him to a another friend who actually does do it.
The only way I would do it is if I bought a used class C with no slides, no awnings and it would be used just for renting out. But I have never done it so I guess my opinion doesn't really count.

[Mr.Mark]

Originally Posted by Dutch Star Don

I was lost with this story from the opening post. First, any post that tells me what to do before I even finish reading it is a turn off.

There are just some things in life I don't have to personally experience to know the outcome. If I jump off of a ten story building, I'm going to die. I don't need to actually do it to figure this out.

I think anyone on here who owns an RV knew the outcome of your experiment, long before you did!

Your post would have been MUCH more interesting if it started out by saying.....I know many would never rent out their RV, but here's what happened when I did. Then lay out the trials and tribulations of renting to people and how they treat the property of others.

In actuality, there are a lot of people who buy 4-5 inexpensive RV's (TT's) and rent them locally, delivering and setting them up.

I felt exactly as you did when I first started reading the story.

Mark

[funmoneypit]

Originally Posted by Dutch Star Don

I was lost with this story from the opening post. First, any post that tells me what to do before I even finish reading it is a turn off.

There are just some things in life I don't have to personally experience to know the outcome. If I jump off of a ten story building, I'm going to die. I don't need to actually do it to figure this out.

I think anyone on here who owns an RV knew the outcome of your experiment, long before you did!

Your post would have been MUCH more interesting if it started out by saying.....I know many would never rent out their RV, but here's what happened when I did. Then lay out the trials and tribulations of renting to people and how they treat the property of others.

In actuality, there are a lot of people who buy 4-5 inexpensive RV's (TT's) and rent them locally, delivering and setting them up.

Originally Posted by Mr.Mark

I felt exactly as you did when I first started reading the story.

Mark

Yep, I am with you guys. I felt the exact same way. As a matter of fact I wrote out a long reply and posted it. I then felt a little bad and revised it to say nevermind. I don't need to read someone's actual experience to know how it would end up. OP didn't want to believe what everyone told him would happen and went ahead and did it. Guess what, everything happened that everyone said would happen. Oh well.

[V3600]

I won't ever rent or lend my RV. It is my opinion and my feeling on the matter and I don't have any facts to back it up. [moderator edit]

[RunningHard]

I have a friend whom owns an old tent trailer besides his class A. He has that that trailer rented out for what seems like every week. People can't even take care of a tent trailer, let alone anything else....

[MRUSA14]

Originally Posted by Forkyfork

What you don't realize is when you start making big bucks renting it out (provide you have nothing better to do than repair it) is that that income is offset by expenses. Your time to repair it is an expense and deductible. So basically you pay yourself $XX hr to repair your crap that people break and bring back. So you don't technically lose the money. If played right you could end up with a decent tax return.

Your time is NOT deductible. The only labor that is deductible is whatever you pay out to others. If you paid a labor fee to yourself, it would constitute income to you as well as an expense and the two would offset each other, except that you would also owe employment taxes (social security, etc) which would leave you in the hole.