Most individuals on average keep their RV a total of 5 years before selling. Utilization rates have decreased and more and more people rather rent.
Fleet management is a great way to rethink renting your rig. Ask yourself this with these three options.
1) does my rig weigh too much or most renters do not have the appropriate tow vehicle? Then at that point consignment or selling is the way to go. At that point utilizing the $$ to pay off the RV and then putting a down payment on two rigs will then yield higher revenues $$.
2) done with it all? Consignment company that will still rent your rv may be a good option. This way you will still have a certain cash flow coming in.
3) a deal worth taking. In my experience so far my rig has been a guide for the way people would like to live, thus my market and my luxury RV caters to a home feeling and not just another RV. At some point a renter will want to buy your rig. Weighing the options and a simple analysis can determine which is the better option. Sell right now or wait to rent to the next renter.
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CHEERS 🍻 ADVENTURE AWAITS
I find it’s almost always going to be beneficial to keep renting it until your no longer able to put in the time of money to keep up with repairs. As it ages you can lower the rate to maintain interest but if it gets to the point of repairs exceeding value it’s over and time to sell. Even if it’s 90% functional still that might be ok for the new owner but not ok for renting any more.