How Do I Rent Out Our RV?

[pamk.mail@gmail.com]

HELP! As with the rest of the country, making our RV payments are tough.

We are not able to use our coach right now.

I would love to rent it out but not sure how to go about it. We have a 2004 Monaco.

Please give me any and all suggestions and ideas.

Thank you,

Pam

[wolfe10]

Pam,

First thing to check is how renting out your RV would affect your insurance and mortgage ( if you have one).

Many lending companies and insurance companies view personal ownership/use differently than one used as a commercial venture.

Brett

[garykd]

Hi Pam,

Welcome to the FMCA forum. Brett's post is a good start. I sincerely doubt you will get renting your coach approved by the company holding the loan on your coach. Somewhere in all the terms and conditions this is, most likely prohibited. That being said, if you can get it approved they will determine what insurance you will need to have. The next step is to go to several RV insurance carriers and determine what they charge for the policy you will need. Make sure you are sitting down when they tell you the premium.

If after the above mentioned tasks, you remain positive, my recommendation is to get an agent/broker that rents coaches. If you try to do this yourself there is considerable additional expense and liability. Once you see the $s you'd receive from each day of rental, you can do the business case to determine if the business is worth getting into.

As a single coach owner, you are at a disadvantage because the large rental companies allow one way rentals. This accommodates tourists much better than a rental that must be returned to the originating location.

Lastly, consider your location. Is the coach located in an area that is where the renters (mostly European and Asian tourists) arrive in the USA from their home country?

For reason's different than yours, I thought about this and did the due diligence. The bottom line is a coach would need to be rented for about 5 months of the year just to break even. I went no farther with the rental idea.