Are you searching for a way to earn passive income? With housing prices on the rise and post-COVID inflation skyrocketing, it’s becoming increasingly challenging to find secure and reliable ways to increase the money in your pockets. Do you happen to own a caravan that sits idle for most of the year? You may already possess an opportunity that has people earning $17,500 per year!
Australia is currently experiencing a booming caravanning industry. In 2022, Caravan Camping Sales reported that caravan production increased by 13% compared to the previous year, resulting in the highest number of caravans ever constructed in the country’s history. This surge indicates a soaring demand for new caravans. Consequently, individuals often find themselves waiting for extended periods, ranging from 4 to 8 months or even longer, to receive their newly purchased vans.
This waiting period has created a market for renting caravans, allowing people to embark on their caravanning holidays sooner. Renting is an excellent alternative for those who wish to enjoy caravan trips but either lack the funds to purchase a new caravan or don’t foresee using it frequently enough to justify the expense.
According to Camplify, your caravan sitting in your driveway can earn you anywhere from $80 to $250 per day, depending on its type, size, amenities, and location. Let’s do the math, we’ll be realistic and assume you won’t be able to rent out your caravan all year round and you’ll obviously still want to use it as well. Let’s say you rented it out during the 12-weeks of school holidays per year in Australia. If you own a 5-year-old caravan that sleeps up to 5 people and has standard amenities, Camplify estimates that you can rent it out for an average of $113 per day (including subtraction for Camplify commission). By renting out your caravan for 12 weeks each year, you could potentially earn $9500 annually! That’s just from 12 weeks of rent, imagine how much more you could earn if your van was listed for 24 weeks per year.
All this income from a caravan that usually just sits in your driveway.
To rent out your caravan, you can make use of Camplify that gives users the opportunity to list their van for free. Camplify offers Damage Cover under the Camplify Promise and you only pay when you receive a booking.