10 Reasons to Use a Campervan Management Agency for Your Sprinter Van
In recent years, the idea of peer to peer-sharing and campervan rentals through sites like Outdoorsy and RV Share has boomed, especially in the big cities throughout the Western US. In such a fast growing market, many Campervan owners are assessing the effort required against the potential returns of taking advantage of this wave. We don’t care if you own a Sprinter Van, Ford Transit Conversion Van, Storyteller Van, Outside Van, or any other popular version, we are open to looking at most any make and model to see if they’ll fit our program.
While it can seem like a lot of effort and even a bit of risk, many owners are reporting substantial profits off the back of short term campervans rentals compared with selling a van that they cannot afford. There is, however, a trick to mastering the short term market without having to lift a finger – use a Campervan management agency. This is no different than the Airbnb space, short term vacation rental space, and other similar asset management sectors of the sharing economy.
Campervan management is somewhat new to the market, but at one point, so was airbnb management right? We now have campervans with all of the amenities of a cozy vacation home, at a cost approaching the prior value of a home not much more than 10 years ago. So if you own a $250k campervan and could make a nice monthly revenue from that asset without all of the fuss, wouldn’t you want to explore the possibilities? We think so too, so let’s explore.
Read on to find out the top 10 reasons why more campervan owners than ever are considering this option for their rental business.
1. Money, money, money
In certain cities, for example, Portland and Salt Lake City, the difference between what you can earn doing it yourself vs. hiring someone to assist you in the campervan rental market can be astronomical. For those of you that simply don’t have the time or energy to become a host, then those are untapped earnings you will never receive. Let’s face it, managing customers and rentals is complicated, time consuming, and not exactly for everyone.
In today’s market, the popular peer to peer sites are charging relatively high fees compared to traditional vacation rental property management agents. So if you’re already going to be paying a high rate just to get your campervan booked online, why not get some additional assistance along the way? With Wandervans, you can optionally spend much less time on each rental that occurs, that means your time commitment goes down while your profits relative to your time put forth go up – it’s a win-win situation.
2. Outsourcing makes things easier
We commonly hear – “I’m always traveling and going on Vacation during the summer months, and therefore there's just no way I can manage my property” – but this shouldn’t be your excuse. Campervans just sit around while you’re not using them, and it’s not easy to manage customers while you’re also on vacation and away from home, 25%-40% of weekends throughout the summer months.
If you are someone who travels a lot for business (or pleasure) you may be able to earn a pretty penny on the side. The initial stumbling block is that when you’re traveling or vacationing (without your van), you aren’t around to manage any bookings either. But a Campervan management agency can help you with this!
Many part-time contracts allow you to come and go to your property as you please, but rent it out while you are away to maximize income.
3. Spend more time doing the things you enjoy
For most, the main turn-off is the time commitment associated with becoming a host, especially during the summer months. That’s when you do the most traveling, so it’s not ideal to be messing around with guests and customer service work. The constant checking and replying to guests can turn into a second job – with some owners spending up to 30-40 hours per month on it. With Wandervans various management options, you could easily cut that time commitment down by at least 50% or more.
For those that value their family time, it becomes a sacrifice most aren’t willing to make. Management companies exist to take over every stage of your listing and bookings themselves – requiring very little input from the owner. Sure, if your van is complex, you’ll still have to be involved to some degree. If you opt for Wandervans to handle the listing, booking and customer service, you may still have some time commitments, but if we can reduce the time required by you up to 50% to 70%, that actually makes renting out your van MUCH MUCH more tolerable.
That means you can put your feet up and watch the reservations come in without losing any precious family moments or having to work too much harder than you already are.
4. Remain flexible
Some owners struggle to make the transition to hosting on sites like Outdoorsy, RV Share, Rvezy, because while they might not use their campervan all the time, they are unable to rent it out for the most popular seasons and weekends because they still use it occasionally.
Short term renting allows you to rent your campervan flexibly. With good management you can make extra money while you’re not using your sprinter van, but still continue to take a camping trip here and there when you need. A part-time Campervan management contract would easily facilitate this.
Additionally, Wandervans will also alert owners to any fleet vans that are available for last minute use by owners at a reduced rate, which creates an opportunity for some owners to rent their van out at $250 per night, but then optionally rent a wandervan last minute for an impromptu trip at a slightly discounted rate which is often closer to $125 per day. So you can still take some trips, even if you’re not always using your own van, and you can still manage to make a little money while you’re traveling by leveraging Wandervans more affordable van options. It’s kind of like going on vacation while your own vacation rental is being rented.
5. Improve your credit score
If you’re thinking about a new Campervan, as an alternative to a traditional vacation rental, it makes a ton of sense for some owners. With the campervan rentals you can generate extra earnings which can then increase your annual income significantly which will improve your chances of obtaining credit and loans. By using property management services, you reap all the benefits of additional income, without the hassle of doing all of the booking, customer services, etc. Depending on which level of management you choose, you can also optionally avoid all of the cleaning and basic service maintenance.
6. Pay off your Campervan Loan faster, or put extra money towards you mortgage.
If you’re looking for ways to pay your mortgage faster, renting your Campervan is a side hustle that owners can’t ignore!
Many van owners use the extra revenue to pay off debts, loans and even pay back off their home mortgage faster. Do the math, if you pay an extra $1000 on your mortgage every month you can save yourself a considerable amount of interest payments!
However, if you don’t have the time or resources to manage your Sprinter van yourself, using a management company can be the key to providing you with an additional income stream which will enable you to make those payments that bit quicker.
7. Keep your Campervan Safe
While many owners use agencies to earn some extra cash, others use them out of concern about their Van’s safety. Our managers can take possession of your van while you’re traveling out of state or country for long periods of time. Plus, we make sure all guests have insurance coverage in case any damage occurs on your vehicle.
If you are going away for an extended period, it can be a worry to leave your Campervan behind unattended parking along the street or in your driveway. But as well as the benefit of making extra a few extra bucks, the local manager in your area can take possession of your van, store it, clean it, and therefore it will be safer than if you had to leave it parked on the street like many van owners have to do in older neighborhoods where garages are too small for vans to fit inside.
8. Fund your travels
Everybody loves a vacation! But affording a dream trip can be difficult when there are bills to pay at home. Making your monthly payments on a Campervan loan can sometimes cause a little heart burn especially if you’re not really using your van all that much. If your van is completely paid off and just sitting there during your summer overseas vacation, why not hire someone to generate some extra income for you?
Property management agencies work with a diverse group of owners; some of them might be going traveling for a year, while some people are saving up for their sabbatical. So no matter what your plan is, you’re bound to find a Management option with Wandervans that can help for your situation. Not only will you earn while you are away, but also given that the money will arrive directly to your bank account – you’ll have funds to spend during your trip, too!
9. Benefit from professional pricing strategies
Using a professional agency means you receive the full breadth of their services – including price optimization depending on seasonality.
Wandervans has an expert revenue team that will benchmark your campervan against others, and adjust prices to make sure you are maximizing your profits. With such a diverse van population there are so many sizes, different layouts, varying amenities, various qualities, which all create quite a challenging environment to make comparisons between different vans for rent and their associated rental prices. It’s really hard! Not to mention, each owner has different needs, expectations and views on how much their van should fetch in the market, which just makes the whole analysis sometimes overwhelming for most owners. Let us help.
In most cases, prices fluctuate depending on seasonality and demand. A good Campervan management company will regularly change your price to reflect market demands and trends. We have automated pricing tools and rules along with a wealth of data to rely on to ensure your Campervan is priced correctly against competitors and the rest of the market. Plus, we are continually making adjustments to pricing as seasonal trends change as well as when unexpected weather conditions arise, making demand stronger or weaker depending on the situation.
With the busy lives of everyday van owners, there’s just not enough time to continually micromanage prices. While you think you’ve probably done a great job managing your own van over the years, there’s a really good chance that your pricing could have easily been 15% to 25% too low. With professional assistance, we can close that gap and ensure that you’re maximizing your return and rental revenue on your beloved Campervan.
10. Receive professional marketing help
When you use Campervan management services, you can make sure you get the best marketing strategies for your vehicle.
Much of that marketing job is getting professional photos taken and the description written. The other part is the ongoing communication with past, present and future guests. We have a database of more than 10,000 guests, many of which are looking to work with an established rental company where they can ensure they’ll get the customer service and support they need while out on an adventure.
In order to stay competitive, you need to be very responsive and reply to guests quickly to secure the booking. At Wandervans, our management teams can provide you with the help you need to make sure you are in the best spot to maximize your income.