Renting out Your Recreational Vehicle (Motorhome or Campervan): Is the Investment Profitable?
Are you the proud owner of a motorhome or campervan that spends more time parked than on the road? You might be missing out on a lucrative opportunity to generate income. Kathryn Bird, a former air traffic controller, turned her love for motorhome travel into a successful business by starting a popular motorhome travel website. Now, you too can join the growing community of motorhome renters on Goboony, a platform that simplifies the process of hiring out your vehicle.
How it Works
Registering on Goboony is free, and the platform handles everything for you when you hire out your motorhome or campervan. Sharing is encouraged, and the daily rates for insurance are competitive. The insurance policy covers the vehicle during hire, and any additional costs or damages are deducted from the deposit.
The service fee is paid by the customers who book your motorhome. The price of the motorhome may need to be lowered to accommodate the service fee, but this can be offset by the potential income. Customers may feel more secure using a platform for payment and protection.
Earnings Potential
Typically, you can earn between £50 and £150 per day by renting out your motorhome or campervan on Goboony, though earnings vary based on factors such as the type, condition, age, and location of your vehicle. The average advertiser on Goboony earns £4,750 per year, depending on factors such as the number of weeks hired out, peak season, and daily rate.
Key points affecting your earnings include the vehicle type, rental frequency, costs, and platform fees and maintenance costs. Smaller campervans might rent at lower daily rates, while luxury or larger motorhomes can command higher rates. More bookings yield higher total income, so seasonal peaks and marketing matter. Factor in insurance specific to rentals, which can run from about £25–£70 per month for typical motorhomes on a hire-use policy.
Getting Started
To get started, simply list your motorhome on Goboony. You'll need to provide details about the vehicle, such as its size, age, and make, as well as any unique features it might have. You'll also need to set your own calendar and pricing system.
The deposit amount is set by the owner and paid by the hirer before the trip. If fines come after the deposit is returned, the hirer is still responsible for paying them.
Additional Resources
Goboony offers additional resources, such as free checklists, eBooks, and tips for motorhoming. They also provide insurance for peer-to-peer hire, covering the UK, theft, and breakdown. The insurance policy is taken out by the hirer.
If you're considering buying a motorhome or campervan and wondering if you'll use it enough to justify the cost, renting it out on Goboony could be a great way to test the waters. Plus, if you're not using your motorhome, why not let someone else enjoy it while earning some extra cash?
[1] Goboony FAQs [2] Goboony Owner Testimonials [3] The Independent: The rise of motorhome holidays as staycations boom [4] Caravan Guard: Motorhome rental insurance explained
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