19 May Could you share-buy and rent out a caravan?
The idea behind ShareBuyIt is to buy a major recreational asset, like a caravan, with a like-minded partner, and share the initial outlay and all other costs, and split the time of use.
So, for a two-partner co-ownership arrangement, each would pay half the purchase price and each would have access to the caravan – or whatever other asset they buy – for 26 weeks of the year.
However, we recently started chatting to Wes Smith, from Caravan and Camping Hire Australia, and between us we got to thinking about a different scenario.
About Caravan and Camping Hire
Caravan and Camping Hire is Australia’s number one peer-to-peer caravan, camper and RV hiring community.
Regular people who own vehicles that they don’t use all the time can be easily found by and connected with people who would like to use one for a week or two.
So, in many ways it’s an idea and a system that could work hand-in-hand with ShareBuyIt.
There are some very positive testimonials from both owners and renters who have connected through Caravan and Camping Hire Australia.
Here are a couple of examples of owners whose caravans or campers have been in high demand.
One NSW owner has netted over $21,000 since joining in December 2015, including nearly $15,000 so far this financial year.
Meanwhile, in Western Australia, a similar Jayco caravan has been hired out 27 times in about 18 months, with its owner having netted more than $15,000 so far this financial year.
There are similar results for another owner in Victoria (21 hire outs and $18k in little more than a year), and others in every state and territory.
Share-buy and rent out
The option of being a member of both ShareBuyIt and Caravan and Camping Hire Australia opens up new possibilities.
Partners in purchasing a caravan, camper trailer or motorhome could work out that between them they use their asset for, let’s say, 12 weeks a year.
Once they’ve blocked out their preferred dates for their trips, they could potentially recoup all of their annual running costs, as well as making a bit more, by hiring it out for even just another dozen weeks.
The asset gets used more like half of the year, the owners still get to use it when they want, and they get some extra money as well.