A main concern for many owners of static caravans is how much income they can hope to achieve from renting out their holiday homes. Most owners who decide to rent their caravans do so to cover the cost of insurance, maintenance and site fees and in some cases to help toward the cost of a loan they may have taken out to purchase the static caravan.
What should I consider before I rent out my Static Caravan?
1) Rental income will be vastly reduced if you or your friends and family use your static caravan a lot throughout the year. This particularly applies if the caravan is being used in peak holiday times such as during school holidays, half terms and Easter. However, owners naturally save a significant amount of money on their own holidays when compared to renting a static caravan from a holiday park at premium rates. Nevertheless, the purchase of a static caravan as a holiday home needs careful consideration in terms of the purchase price when balanced against the benefits to your lifestyle.
2) The purchase price is also a key consideration together with the specification of the van. For example, you will get less rental income from a 4 berth caravan than you will from a 6 berth but the purchase price of a 6 berth will be infinitely higher.
Since many owners purchase with a loan, it’s important to calculate the repayments on the static caravan and include them in any plan for rental.
3) Marketing your static caravan privately means that you will take on all the responsibilities associated with rental including handling the bookings and maintenance of the unit. The most cost effective way of marketing your caravan is online through sites such as Rent My Caravan where you pay a small annual fee to advertise all year round. Visitors to Rent My Caravan are looking specifically for static caravans to rent, so unlike other holiday sites which include different types of accommodation our visitors are targeted solely to those seeking caravan holidays.
4) On Rent My Caravan, you will be provided with a bookings calendar which makes it easy to manage your reservations. Visitors will also be able to see which dates are available.
Whilst the maintenance and cleaning services provided by some holiday parks are convenient this will erode your rental income. You can often save money by finding someone local to take care of the minor maintenance jobs and the cleaning. You will also have to ensure that an annual gas safety check is carried out by a suitably qualified professional.
Wear and tear
Obviously the more weeks your rent out your static caravan, the more revenue you will achieve but naturally this will impact adversely on wear and tear. Since you will not know most of the people you rent your caravan to it is always wise to take a security deposit against damages. You should also specify the type of damage that would incur expense to the holidaymaker. For example, a broken glass can be forgiven but a broken window not.
If you have many bookings throughout the year, you can expect your running costs to increase so always calculate this into your rental plan.