RVshare, a community for RV owners and renters, has had over 100,000 owners sign up to rent their RVs since the pandemic began.
According to a press release, the popularity of RV travel has helped increase the profits of RV owners. Due to the increase in new owners renting their RVs on the site, more than 30% utilize the rental service as a means in order to cover the cost associated with owning an RV.
Based on a recent study of RVshare owners, almost 60% of owners are able to cover 50% (or more) of finance costs by renting their vehicles through RVshare and 17% say they’ve had the ability to pay off their vehicle completely.
The rental site recently discovered that 64% of owners say they have bought their RVs after the pandemic began in March 2020.
While high gas prices and interest rates may have some owners tempted to sell, RVshare saw continuous demand and an increase in bookings, with revenue from bookings up nearly 40% in 2022.
“RVshare was built with the idea of making it easy for RV owners to list and rent to create the world’s first fleet of RV entrepreneurs with the ability to make real money from their RV,” said RVshare’s CEO Jon Gray.
“With record sales in 2020 and 2021, there are more RV owners in the US than ever before. Rising interest levels paired with the continued trend of outdoor travel make us believe that demand will only increase, making it a great time for owners to turn their asset into a source of revenue.”
A rising interest rate and the growing popularity of outdoor adventure travel makes us believe that the demand for outdoor travel will only grow and it is a perfect opportunity for owners to transform their assets into a source of income.”
A recent RVshare survey also highlighted that only 20% of owners are currently retired from their primary occupation, making their rental services a wonderful source of earnings; while 80% of owners claim that RVshare acts as a second source of income for themselves and their families.