It doesn’t hurt to have a little extra income, in fact, it’s exactly what you’ve been thinking about, and that’s why you’re reading this. You haven’t gone on a road trip in a long time, or maybe you just got back. Bottom line is, you don’t want your van sitting in the garage doing nothing until your next trip (whenever that may be).
Is Renting Your Van to Strangers a Good Idea?
Absolutely. Renting your van to strangers could help you:
• Put some extra cash in your pocket, which is what side hustles are for, except that this does not require your time and commitment as much.
• Pay for the cost of the van. Let’s face it, a vehicle is a liability because you have to keep buying gas. There are also maintenance costs, parking fees, and other costs that come with owning a vehicle.
• Keep the van in good shape. What do you think will happen to a van that’s parked for months on end? You probably don’t want to have to pay to maintain a vehicle that you haven’t even been using.
How Much Will You Earn?
How much you make largely depends on you and the service you use. The more often your van is available, the higher your chances of making more money. Some services claim you can make up to £3,000 a year.
How to Get Started
There are various services like Camperbug that link you to persons who are interested in renting your van. Usually, what you do is let them know when your van is available and when a request is made, you’ll be notified. Depending on how the service you choose works, you may have to meet with the renter to hand over the van. You may be paid per hour or per day at a rate agreed between you and the company or renter. The state of your van would likely be a factor in deciding the rate.
How Do You Know Your Van Will be Safe?
Normally, the company will provide van insurance cover for the duration the renter has your vehicle. Meanwhile, you should check with your insurance company to ensure this won’t invalidate your personal insurance.
Also, such services would normally do a background check on the renter and drop anyone that may seem suspicious, reducing the possibility of your van being stolen. There’ll probably be a background check on you too to make sure you are who you say you are, and additional checks on the van, itself.
We advise you carefully check exactly how all of these services work and pick the best option for you. Having a van is a very useful asset as it opens you to kinds of work that wouldn’t be available to the average car owner. Obviously, if you have your own job to attend, having the time to pick up odd-jobs can be difficult to find, which is what makes the van rental option so attractive.
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