Community Forums

RickO · 08-17-2012, 10:55 AM

Quote:

Originally Posted by YZF571

I barely know enough now to operate some of the systems,

This is really a big issue in my mind.

Recently a friend who is a retired trucker (and quite well off) wanted to rent my 40DP for a few weeks. I immediately said no, not because I didn't trust him or his ability to drive the rig, but rather there are just so many systems that need to be understood and operated properly on a trip of that length I just couldn't see how I could give him the necessary education in any reasonable amount of time.

Rick

madcow52 · 01-01-2013, 02:38 PM

Hi, just wondering did you rent it? I am looking at putting my class c in a rental situation with the company managing it. The precentage is high 45% and i do nothing. They collect all deposits and money due up front and I get my share once a month. Mine unit is a previous cruiseamerica unit and looks, drives like new. Basic yes, just what I wanted. I am thinking about retiring in 1 1/2yrs and this seems perfect to pay for the unit. Add'l income would be nice too. The renters are required to purchase rental insurance or provide a binder from their insurance company. Anyone else done this?

TXiceman · 01-01-2013, 03:16 PM

madcow52.....and you will have a well worn class C when you get ready to retire.

The way I look at the rentals is that if were such a great money making deal, they would own the units and rent them out and not skim the dollars off the top and let the poor owner suffer with a worn out RV.

Ken

djbmsu · 01-01-2013, 05:01 PM

Never !

CampDaven · 01-01-2013, 05:07 PM

Quote:

Originally Posted by djbmsu

Never !

I would condider it.

$20,000 damage deposit, bi-weekly, non-refundable, must camp in my yard.

Lindsay Richards · 01-01-2013, 05:10 PM

I want to learn to bungee jump first. I see so many strange things happen it the Cruise America rentals we have down in Florida. I would never even consider doing this.

CampDaven · 01-01-2013, 05:46 PM

Quote:

Originally Posted by Lindsay Richards

I want to learn to bungee jump first. I see so many strange things happen it the Cruise America rentals we have down in Florida. I would never even consider doing this.

But, all you would need to do is give each renter a 3-day course on all procedures and systems, and being you would not sleep while it is on rent you would have the time and money to learn bungee jumping.
Nothing to it!

Norm Mac · 01-01-2013, 06:23 PM

This is an emotional decision for most of us and the answer is HELL NO!

The only way rental will work for you is to make enough money in 3 years or so to walk away and go buy a fresh unit. You will not ever want to keep that rental unit as your own after 2 to 3 years of renting.

I am guessing that there is no way you will make enough to make this deal work and you do not want to "Share" this motorhome with the rental crowd.

PS. I am glad that some people do rent thier units. We rented several times over the years before buying our own. We always treated the units well but with only about 30 minutes of training, I'm sure we accelerated the aging process without even knowing.

Good Luck, run the finances, and if it doesn't come out "WINDFALL", walk away.

wildweasel · 01-02-2013, 07:34 AM

Quote:

Originally Posted by madcow52

Hi, just wondering did you rent it? I am looking at putting my class c in a rental situation with the company managing it.

Hi Madcow,

I was considering putting our class A into a local pool last year but ultimately decided against it for a few reasons.

The percentage of income allotted to the owner wasn't as high as you are reporting (I think it was 30%). Additionally, the company doing the managing was going to bill all "routine maintenance" to me and deduct it from my cut. This included oil and tire changes, for example, but could also include replacing a "malfunctioning" dump valve, even if the reason for the malfunction was arguably renter abuse. It seemed to me like that should come out of their side since I wasn't causing any of the wear and tear, but clearly they disagreed. They had the sole right to determine if something was "damage" (renter pays) or "normal wear and tear" (I pay). They also had the right to decide when and if the coach needed maintenance (can you say "Additional income stream"?).

They also had the right to discount the price of the coach to keep it on the road (if they chose) without input from the owner. Good business decision for them; perhaps not so good for the owner if the discount-minded renters weren't conscientious.

I'm sure there are many renters who have good knowledge of coaches and sub-systems and take good care of them - I rented before I bought and I took fantastic care of the units, for example.

That said, I know full well there are folks out there who don't know anything, don't want to know anything, and will dismiss any damage as "who cares, it's a rental". I received a private reply where the owner said one renter tried to deploy a slide-out on a 15% incline - not smart.

The management company, if everything works, will catch any damage, bill the renter and repair it, but there are some types of damage that may not be caught when the coach is returned. For example, an on-board generator may start to use oil after a while because it wasn't changed on the proper schedule. Hard to lay blame for that one on any one person.

The contract I looked at was very explicit that cosmetic damage was considered "normal wear and tear" and would not be fixed. What this told me was that in a couple of years I was going to have a coach that looked like it had aged 10 years.

I ultimately decided the loss in resale value wasn't going to be offset by the rental income - not even close - and that this was a great deal for the renters and the rental management company, not for me.

I didn't look much into insurance implications - be sure you are up to speed on those if you decide to go ahead. Your insurance will not pay any claims incurred by renters if you have a private policy. Most rental companies require the renter to have a rider placed on their own insurance or purchase separate insurance from a third party for the trip in question. YOU need to make sure this is happening because the rental company doesn't have near the interest you do in making sure the coach is protected against liability and loss.

Good luck!

Oscar Mike · 01-02-2013, 07:43 AM

There is no way that I would rent my motor home, no way, no how, not going to happen. I would not let my best friend use my motor home, much less some stranger that does not give a hoot about my property.

Lindsay Richards · 01-02-2013, 07:50 AM

We lent our Class A to a friend as a birthday present. We drove it to the campground (Disney), set it up completely with power, sewer, water, ETC. I gave him a hour run thru and was by the phone the whole time. We went back in three days and got it ready and left. I was pretty worried the whole time even doing it this way. I can not imagine allowing a complete stranger to drive away in it.

gbstewart · 01-02-2013, 07:59 AM

No, no, never, I have to much time money invested, for anyone to use it.

gbstewart

LindaH · 01-02-2013, 08:02 AM

Do you really want complete strangers sleeping in your bed, sitting on your toilet, using your shower? There's no way I'd ever rent our RV out...heck, I wouldn't even allow a relative to use it!

mel s · 01-02-2013, 08:05 AM

Quote:

Originally Posted by RickO

This is really a big issue in my mind.

Recently a friend who is a retired trucker (and quite well off) wanted to rent my 40DP for a few weeks. I immediately said no, not because I didn't trust him or his ability to drive the rig, but rather there are just so many systems that need to be understood and operated properly on a trip of that length I just couldn't see how I could give him the necessary education in any reasonable amount of time.

Rick

My DOG..... yes.

My WIFE.......maybe.

My COACH....NEVER!