The recreational vehicle (RV) rental market is forecast to heat up alongside summer temperatures, according to a recent survey conducted by the RV Rental Association (RVRA).
According to a press release, building on the high demand experienced in 2022, many RV dealers expect this year to be equally, if not more, prosperous.
Of the rental operators who responded to the survey, 26% anticipate an increase in their rental revenue in 2023. Another 42% forecast their earnings to be on par with the previous year. Notably, an optimistic 15% of operators are predicting a significant revenue boost ranging from 11 to over 21%.
Renters need not be concerned about availability, despite the high demand. Scott Krenek, Chairman of the RVRA and owner of Krenek RV in Coloma, Michigan, assures prospective renters that more than 70 percent of the surveyed dealers believe manufacturers can supply an adequate number of rental units this year.
The survey also revealed that nearly all of the rental dealers’ customers rented an RV for at least three nights in the past year. For those considering a longer stay this summer, be prepared for strong competition. A majority of rental dealers, 76%, believe that the average length of rental contracts this year will be similar to last year.
When it comes to the preferred size of RVs, bigger is indeed better for families. Rental dealers report that larger RVs, capable of sleeping at least three adults, are the most popular among renters.
Even without a suitable towing vehicle, the dream of an RV vacation remains within reach. Over 80 percent of dealers offer towable RVs. For those without a tow vehicle or the expertise to set up an RV at a campsite, many rental dealers offer delivery and set-up services at campgrounds or private residences.
Krenek has some advice for those considering an RV vacation. “Planning ahead can significantly enhance your experience,” he suggests. “RV rental vacations are an excellent way to create unforgettable memories with family and friends.” He also notes that rented RVs are an increasingly popular lodging choice for attendees of family reunions, festivals, and races.
The survey also noted the growing trend of RV rentals from private owners through peer-to-peer digital platforms. While this may be a tempting option, Krenek advises renters to consider the added value of renting from dealers, who typically possess a deeper understanding of RV operation, maintenance, and troubleshooting.
As the 2023 summer season approaches, the message from the RVRA is clear: plan ahead, book early, and embark on an extraordinary summer journey. A complete list of RVRA member companies can be found at www.rvra.org.