There are a number of factors to take into account when setting your nightly rental price.
Although the exact price point is entirely up to you, here are a few suggestions on how to set your RV rental price within market and industry expectations to increase your earning and booking potential.
Private RV rentals are priced differently than traditional RV rental options.
In an online marketplace, you'll find RVs of all shapes, sizes, and types. Some are brand new, and others are seasoned. Ideally, the exact rate falls within a price range based on the age, size, location of rental, and type of RV you own.
RV Rental Price Range by RV Type
Here is a recommended breakdown of price ranges determined by the RV Type. Keep in mind, as you grow with RVezy, your experience and attention to detail will help you create a unique pricing strategy that works best for your unit(s).
Trailer pricing recommendations do not account for delivery options. This is a great value-add to your renters because not everyone has a vehicle to tow, nor do they want too. We see a growing number of renters who want the trailer dropped off at their campsite.
If you want to offer delivery on your rental(s), create an add-on for "Delivery & Setup" as an additional charge to your renters excluded from the standard rental rates. Set the km range you're willing to drive for delivery. Consider Airport Pick-up as well for International renters who rent for longer periods of time.
Factors that Affect Price Range
To better understand the recommended rental rates and where your RV fits on the scale, consider a few key factors that will help you understand if your RV is closer to the higher or lower end:
Just like the hotel industry, the RV rental industry is affected by seasonality as well: high-season, and low-season.
By setting rates for each season, you will increase your overall revenue, and increase your occupancy rate as well.
High-season typically lasts four months (May-August), and you can count on bookings for the majority if not all of these 16 weeks – and charge top-dollar for it! High season also includes the September Labour Day long weekend. This is the marker of the end of high season. Consider setting minimum 3 nights to book during high season to get the most out of the season.
To increase revenue during low season, lower your minimum rental requirements to 3- nights to accommodate renters looking for long-weekend RV adventures during off-peak times.
Low-season (Late September-April) is a great time to experiment with special offers and added touches. For example, owners throw in a case of beer with every low season rental to encourage more bookings.
Depending on your earning goals – with the most common being to make as much extra income in as short a time as possible – best practice is to encourage potential renters to rent for longer periods of time.
This can be done through a number of different ways, however the tried, tested and proven method is to offer discounts for longer rental periods.
Now that you have your baseline figured out – let's look at competitive pricing.
Conduct research on RV owners with similar makes and models, and in the same location as you are to see how they are pricing their listing(s). You can find all of our current rental listings here.
If the price for your RV rental listing is much higher, you may find it difficult to attract renters to your listing, no matter how amazing any special offers or added touches you include.
While competitive and affordable rental rates are one of the first things that potential renters will see when looking at RV rental listings, it is not the most important.
Good prices may bring potential renters in the door, but what keeps them at the table is a well-written description and outstanding photos!
Rent your RV. Make money. Easy.