Money

how to make extra money renting your caravan could be the answer

Written by The ReReport



Naomi and Chad Pridue are among a new breed of Australians creating extra cash from caravans, motorhomes and other recreational vehicles.The couple have been using sharing platform Camplify — which describes itself as “the Airbnb of caravans” — to generate thousands of dollars of extra cash from holiday-makers wanting to borrow a temporary home on wheels.XMAS: Hack into tech savings this ChristmasHABITS: Bad money behaviour bites back TRAVEL: How I saved $8000 in eight months for a holidaymedia_cameraNaomi and Chad Pridue manage five caravans, securing more than $12,000 of booking before New Year”™s Day. Picture: SuppliedMrs Pridue said the couple tried the platform after realising they only spent only four or five weeks a year using their caravan.“We had no idea how popular it was going to be,” she said. “We received eight bookings in eight weeks on one van and were already turning bookings away so decided to purchase another.“The same thing happened to the next van and the pattern went on. The money we have made from hiring our caravans has enabled us to expand our fleet and turn it from a bit of fun into a fast-growing business.”The couple now manages five caravans, including three that they own themselves, and have secured more than $12,000 of bookings before New Year’s Day.“A lot of people don’t realise they can do this — and this results in a lot of idle caravans or people even choosing to sell their vehicles because they can’t justify storage and insurance costs,” Mrs Pridue said.“Perhaps people are also nervous about sharing their beloved caravans — we were at first, but were reassured knowing that we had fully comprehensive insurance and support.”media_cameraA camper trailer could make its owner about $10,000 a year, according to Camplify CEO Justin Hales. Picture: Destination NSWCamplify founder and CEO Justin Hales said there were now more than 3000 recreational vehicles (RVs) listed on its platform and these were expected to generate their owners more than $4 million over summer.“The Australian market is very buoyant at the moment, and the outdoor tourism industry is an exciting place to be right now,” he said.Mr Hales said owners could generate income between $10,000 and $20,000 from their RV. “A $20,000 camper trailer in the right market could make around $10,000 per year, and the right motorhome around $20,000, he said.“Camplify also uses the power of its owner community to negotiate deals including insurance packages.”Caravans aren’t the only set of wheels being shared by enterprising owners and budget-conscious customers. Peer-to-peer car rental company DriveMyCar says holiday-makers can save hundreds of dollars over Christmas using car sharing.Its analysis found car rental companies charged 3.3 times as much for rentals in December than they do in November. “Travelling is pricey enough without having to pay a Christmas tax for car rental,” DriveMyCar CEO Chris Noone said.@keanemoneyREAD MORE MONEYSAVER NEWS:THE DANGERS OF INTEREST ONLY LOANSINSURANCE ‘LOYALTY TAX’ EXPOSEDHOW LONG SHOULD YOUR APPLIANCES REALLY LASTOriginally published as How to turn caravans into cash



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