RVshare, an online company bringing RV owners and renters together, recently surveyed its RV owners and found that the demand for RV rentals continues to be very high, with revenues from bookings up nearly 40% year-to-date.
RVshare said it has had more than 100,000 owners sign up to rent their RVs since the pandemic began. The ongoing interest in RV travel has fueled RV owners’ profits, the company said. With an influx of new RV owners renting on the site, nearly 30% use their rental as a way to offset the cost of owning an RV. According to a recent survey of RVshare owners, nearly 60% of owners are able to cover at least half or more of their financing payments by renting out their vehicle through RVshare, while 17% claim that they have been able to pay off their vehicle entirely.
The online rental site recently found that 64% of owners say they purchased their RV after the pandemic started in March 2020. While fluctuating gas prices and interest rates may have some owners tempted to sell, RVshare said it is seeing continuous demand and growth 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 U.S. 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.”