43012131_182555325970143_6293438588579150583_n.jpg

Where

to List

 

Where should you list your camper van or RV to make the most money?

This is the first chapter in a series from GoCamp’s Guide to Renting Your RV or Camper Van. To receive updates when subsequent chapters are released, and for additional bonus content provided only via email, be sure to sign up HERE if you haven’t already.

More and more people are realizing the benefits of turning driveway downtime into easy income by renting out their adventure mobile when they aren’t using it. In the last few years the RV rental marketplace has experienced explosive growth. But which website or approach will yield the best results?

 

Three Types of Rentals

First, it’s important to understand that there are three different models for renting.

 

Peer-to-Peer Rentals

An individual van owner rents his/her van to a renter, typically via an online platform. The owner is responsible for meeting and greeting the renter and making sure the van is in good mechanical order. Insurance and roadside assistance are typically provided by the platform, as is marketing of the vehicle. Think AirBnB for RVs and camper vans. We discuss this model in depth below.

 

Consignment and RV Property Management

An individual van owner puts his/her van in a pool managed by someone else who meets and greets renters, performs routine maintenance on the van, and generally handles the whole process. You can expect to pay between 40 - 60% of the base rental for this service. In a consignment scenario almost all decisions are made by the organization to which the RV has been consigned. With property management, some decisions (such as renter discounts) need consultation with the owner. Examples of this include Northwest Adventure Rentals and The Camper Connection.

Traditional Rentals

Rental fleets are wholly owned and managed by a rental company. Oftentimes these vehicles will be branded and serve as a billboard for the rental company, as is the case with Cruise America, Jucy, and Escape Campervans. Others prefer a more subtle approach. Fleets can range in size from dozens to hundreds of vehicles. In the category of mid-sized, locally-owned and managed companies, we’re big fans of Peace Vans Rentals and Native Campervans.

Peer-to-Peer Renting is the Best Bet for Most RV and Camper Van Owners

 

If you have a modest amount of time to dedicate to meeting and greeting renters, peer-to-peer renting will yield the greatest returns. In this category GoCamp curates a growing fleet of camper vans in a distinct geographic region (currently Idaho, Oregon and California), while others offer a wide variety of options nationally and internationally. Here we examine the pros and cons of listing on Outdoorsy, RVShare, Mighway and Campanda.

US-Based: Outdoorsy and RVShare

Similar in scale, these two sites offer everything from large motorhomes to Class B and Class C RVs, travel trailers, fifth wheels, truck campers, camper vans, tear drop trailers and more. There is something for everyone, though as is the case with all big peer-to-peer sites, quality of the vehicles and responsiveness of the owners varies widely.

RVShare and Outdoorsy contain some inventory overlap; many vehicle owners will list on both sites, akin to listing your home on AirBnB and VRBO. Outdoorsy is operational in eight countries, while RVShare is available in the US and Canada. RVShare entered the market first, currently boasts more web traffic and seems to be the lower cost option for renters. But as for innovation in the RV rental marketplace, Outdoorsy’s fleet management software, Wheelbase, is increasingly popular with managers of mid-sized fleets. Outdoorsy is currently winning the social media game, with higher levels of engagement and almost three times the followers. But both sites are backed by healthy doses of venture capital, so RVShare is equally likely to roll out its own innovations and new features. It’s worth paying close attention to these two sites.

Outdoorsy

Outdoorsy describes itself as “the largest and most trusted RV rental marketplace on the planet.”

Fees to Renters: Renters pay up to a 20% service fee on all bookings to cover insurance and other service fees.

Insurance: Provided by Zurich and covered by the service fee above.

Liability Coverage: Owners receive $1 million in liability coverage and renters receive the state minimum. Renters can opt to add additional liability coverage of up to $1 million for $6.25/day.

Comprehensive and Collision: Comprehensive and collision coverage is offered up to the actual cash value of the vehicle, with a maximum of $250,000. Renters pay a deductible that ranges from $1,500 - $3,000.

Insurance Restrictions: Vehicles must be year 2000 or newer to qualify for liability insurance protection. Older units can be covered under Outdoorsy’s Vintage Plan.

Roadside Assistance: Offered to renters at $15/day. Provided by Coach-Net.

Trip Cancellation Insurance: Offered to renters at 6.5% of the total booking. Covers renters’ investment in the event of unforeseen circumstances (e.g. weather, road closures, medical emergencies, etc.) that lead to a cancellation. Provided by CSA.  

Damage Protection Insurance: Offered at $69/per booking. Covers accidental damage to the interior of vehicles for up to $1,500.

Security Deposit: Outdoorsy allows owners to take and hold a security deposit against damages.

Other Services: Outdoorsy offers trip financing through Affirm.

DMV Background Checks: Free, no limit on the number of drivers. Outdoorsy screens for moving violations and DUIs, and confirms the validity of the renter’s license and renter’s identity.

Revenue Share with Owners: Outdoorsy takes 20% of the base rental and any add-ons, including mileage charges. Discounted rates are offered to those using Outdoorsy’s fleet management software.

RVShare

Founded in 2013, RVShare describes itself as “the world's first and largest peer-to-peer RV rental marketplace, serving more than 60,000 RV owners across the US.”

Fees to Renters: No additional fees for renters beyond those listed below. 

Insurance: Provided by MBA Insurance and National General for a per day fee paid based on the value of the vehicle.

Liability Coverage: For an RV valued at $25,000 - $100,000, renters pay $24.95/day, along with a 5% insurance tax. Owners receive $500,000 in liability coverage and renters receive the state minimum. RVShare expects to roll out a program where owners, and perhaps renters, can upgrade their coverage to $1 million by the end of the first quarter of 2019.

Comprehensive and Collision: Comprehensive and collision coverage is offered up to a maximum of $200,000. Renters pay a $1,500 deductible.

Insurance Restrictions: The vehicle must be no older than 15 years old (2004 and newer).

Roadside Assistance: Included for free, provided by Nation Safe Drivers.   

Trip Cancellation Insurance: N/A

Damage Protection Insurance: N/A

Security Deposit: RVShare allows owners to take and hold a security deposit against damages.

DMV Background Checks: Free, no limit on the number of drivers. RVShare confirms the validity of the renter’s license and renter’s identity.

Revenue Share with Owners: RVShare takes 25% of the base rental and any add-ons, including mileage charges. Discounted rates are offered to those with two vehicles on the platform (20%) and those with three+ (15%).

 

Fees Paid by Owners

Each of the platforms discussed here takes a percentage of the total rental, including any additional charges for mileage overages or add-ons like a bike rack. To our knowledge, the only peer-to-peer website that doesn’t take a cut of your mileage and add-on fees is GoCamp.

For one vehicle, fees paid by owners to the major sites range from 15 - 25% and are applied against the total rental (e.g. the base rental plus any add-ons, mileage charges, etc.).

Where do you Make the Most Money?

The payouts to owners above are based on a five night rental valued at $200/night that includes add-ons and mileage charges.

When listing one vehicle, on a five night rental valued at $200/night, RV and camper van owners would make the most money on Mighway. For a line by line comparison and much more detail, click HERE.

 

But Which Site Delivers the Renters!?

The next chapter in our series delves deep into website traffic across the four sites. Don’t miss it! To be notified when the next chapter is released, be sure you are on our mailing list by signing up HERE. Additional content in this series will only be delivered via email.

comparing the major rv sharing sites.jpg

International Companies: Mighway and Campanda

Mighway is based in New Zealand, while Campanda is based in Germany. Both are backed by big names in the industry. In 2018 Mighway became part of th2, a joint venture between Thor Industries and thl. Thor Industries produces iconic brands such as Airstream, Keystone and Jayco, while thl is a large RV rental operator, with US brands such as El Monte RV and RoadBear RV. Campanda’s latest round of investment included Michelin Travel Partner, the subsidiary of tire manufacturer Michelin.

Inventory on Mighway and Campanda is as diverse as on the two sites above. Mighway and Campanda appear to have made relatively modest inroads into the US market, with Campanda listing ~1,000 vehicles in the US and Mighway likely fewer. Mighway strategically started in California and is now expanding from there, while Campanda opened its door US wide last rental season. Mighway’s fees, both to the renter and to van owners, are currently set relatively low. We suspect this fee structure is temporary, intended as a short-term strategy to gain traction in the market. Presumably both brands have established international customer bases, which should serve to attract international renters to US options.

Mighway

Mighway describes itself as “one of the world’s fastest growing peer-to-peer RV rental platforms.”  

Fees to Renters: 5% service fee.

Insurance: Mighway self-insures; it provides its own insurance policy at either $13/day or $29/day.

Liability Coverage: Renters and owners receive $1 million in liability coverage.

Comprehensive and Collision: For $13/day the renter pays a $4,500 deductible on damages. For $29/day the renter pays a $500 deductible on damages and enjoys additional services such as free lodging and an alternative vehicle in the case of an accident.

Insurance Restrictions: There are no restrictions on the age of vehicles. Vehicles must be privately insured, however, which helps Mighway determine that the vehicle is road worthy. (Mighway’s insurance kicks in during the rental period, of course.)

Roadside Assistance: Offered to renters for $5/day. Provided by Coach-Net.

Trip Cancellation Insurance: N/A

Damage Protection Insurance: N/A

Security Deposit: Mighway does not collect security deposits on behalf of owners. Owners may collect them separately.

DMV Background Checks: The first driver is free. Subsequent driver checks cost $29/per person. Mighway confirms the validity of the renter’s license and renter’s identity.

Revenue Share with Owners: Mighway takes 15% of the base rental and any add-ons, including mileage charges.

 

Campanda

Launched in 2013, Campanda describes itself as “the largest peer-to-peer RV rental marketplace in the world with over 26,000 RVs for rent in 42 countries.”

Fees to Renters: No additional fees for renters beyond those listed below. 

Insurance: Coverage is provided by Allianz. Insurance is listed at a rate of $18.50 per day, but calculated at a rate of $19/day.

Liability Coverage: $1,000,000 in liability coverage is provided to owners; it isn’t clear how much liability coverage, if any, extends to renters.

Comprehensive and Collision: Comprehensive and collision coverage is offered up to the cash value of the vehicle. Renters pay a $1,000 deductible.

Insurance Restrictions: The vehicle must be under 25 years old (1995 and newer).

Roadside Assistance: Added for $15/day. Provided by Nation Safe Drivers.

Trip Cancellation Insurance: N/A

Damage Protection Insurance: N/A

Security Deposits: Campanda allows owners to take and hold a security deposit against damages.

DMV Background Checks: Free, no limit on the number of drivers. Campanda confirms the validity of the renter’s license and renter’s identity.

Revenue Share with Owners: Campanda takes 20% of the base rental and any add-ons, including mileage charges.