What is Turo?: How to Make Money Renting Out Your Car
6.2 هزار بار بازدید -
5 سال پیش
-
https://fioney.com/turo-car-rental-re... Are you a car owner looking for a way to make some extra income? Well in this video we’re going to be taking a look at the vehicle rental platform Turo and how it could provide you with a new side hustle.
You may have seen commercials for the car rental site Turo, which has frequently been referred to as Airbnb but for your car. The platform connects car owners with those looking to rent. As a result, not only could it be an option for travelers and other car renters but could prove to be a side hustle opportunity.
With that in mind, let’s take a closer look at Turo and what you need to know about the peer to peer rental platform.
The first thing to know about Turo is that there are two main ways to utilize the site: either as a renter or as a host.
As I mentioned, Turo connects those looking to rent a car with those who have cars to rent. On the rental side, users can search their area or destination to browse available vehicles, message owners, and more. In addition to the quoted per day price, Trip Fees, delivery fees, and other charges may apply. Then, once your rental is accepted, you can meet your host at the designated location, enjoy the vehicle for the length of your booking, and then return it when your rental is done.
Of course the side hustle element of Turo comes into play on the hosting side of things. Turo does not charge hosts to list their vehicle, instead taking a cut of successful booking. Even before you sign up, you use the platform’s “Carculator” to get a rough estimate of how much you can make by renting out your car. While it’s not a guarantee that you’ll achieve these numbers, there are a few things you can do to attract more renters — which brings us to our next point.
If you do choose to rent out your car on Turo, the most important thing you’ll need to do is create a complete and enticing listing.
On their site, Turo notes that creating an engaging listing is key to booking rentals. This includes having clear and attractive photos of the vehicle you’re renting out, providing a detailed description along with amenities, and keeping your car’s availability up to date. You’ll also want to spell out the policies you have for your vehicle.
Speaking of policies, Turo allows hosts to offer delivery either for a fee or for free. If you want to boost your bookings, they advise that listings with free delivery get rented out 60% more than those that charge.
Last but not least, you’ll want to ensure that you’re responding to renter questions and bookings as quickly as possible. In fact, if you take longer than eight hours to respond to a booking request, it will expire. These are all things you’ll want to consider when deciding to list your vehicle.
As for how much of a cut Turo will take from your rental revenue, the answer will depend on which of their insurance plans you choose.
For most Turo hosts, there will be three insurance options to choose from that will inform what percentage you’ll retain of your earning. Depending on what level of coverage you choose, your cut will be 65, 75, or 85 percent — That is unless you happen to have your own commercial rental insurance coverage, in which case you can hold onto 90% of your rental rates.
There are a few different factors that will help guide your decision on which option to choose. For example, those only renting out their car from time to time might opt for lesser coverage and a larger percentage, Meanwhile those depending on their Turo earning might be interested in the loss of hosting income coverage that comes with the Premium option. Ultimately you’ll want to be sure to consider your options carefully and choose the coverage that makes the most sense for your situation.
Overall renting out your car on Turo may allow you to make some extra money, but you will need to put some effort into it.
From crafting an effective listing and offering perks that will attract renters to keeping your availability up to date and responding to renters quickly, there’s no question that renting your vehicle on Turo will take some work — putting the hustle in side hustle if you will. At the same time, regardless of whether you just want to make some spare cash in times when you don’t need your car or you want to start your own little business renting out vehicles, Turo might just be able to make that happen.
For more side hustle ideas and tips checkout https://moneyat30.com/category/side-h... as well as my side hustle videos Side Hustle Ideas
You may have seen commercials for the car rental site Turo, which has frequently been referred to as Airbnb but for your car. The platform connects car owners with those looking to rent. As a result, not only could it be an option for travelers and other car renters but could prove to be a side hustle opportunity.
With that in mind, let’s take a closer look at Turo and what you need to know about the peer to peer rental platform.
The first thing to know about Turo is that there are two main ways to utilize the site: either as a renter or as a host.
As I mentioned, Turo connects those looking to rent a car with those who have cars to rent. On the rental side, users can search their area or destination to browse available vehicles, message owners, and more. In addition to the quoted per day price, Trip Fees, delivery fees, and other charges may apply. Then, once your rental is accepted, you can meet your host at the designated location, enjoy the vehicle for the length of your booking, and then return it when your rental is done.
Of course the side hustle element of Turo comes into play on the hosting side of things. Turo does not charge hosts to list their vehicle, instead taking a cut of successful booking. Even before you sign up, you use the platform’s “Carculator” to get a rough estimate of how much you can make by renting out your car. While it’s not a guarantee that you’ll achieve these numbers, there are a few things you can do to attract more renters — which brings us to our next point.
If you do choose to rent out your car on Turo, the most important thing you’ll need to do is create a complete and enticing listing.
On their site, Turo notes that creating an engaging listing is key to booking rentals. This includes having clear and attractive photos of the vehicle you’re renting out, providing a detailed description along with amenities, and keeping your car’s availability up to date. You’ll also want to spell out the policies you have for your vehicle.
Speaking of policies, Turo allows hosts to offer delivery either for a fee or for free. If you want to boost your bookings, they advise that listings with free delivery get rented out 60% more than those that charge.
Last but not least, you’ll want to ensure that you’re responding to renter questions and bookings as quickly as possible. In fact, if you take longer than eight hours to respond to a booking request, it will expire. These are all things you’ll want to consider when deciding to list your vehicle.
As for how much of a cut Turo will take from your rental revenue, the answer will depend on which of their insurance plans you choose.
For most Turo hosts, there will be three insurance options to choose from that will inform what percentage you’ll retain of your earning. Depending on what level of coverage you choose, your cut will be 65, 75, or 85 percent — That is unless you happen to have your own commercial rental insurance coverage, in which case you can hold onto 90% of your rental rates.
There are a few different factors that will help guide your decision on which option to choose. For example, those only renting out their car from time to time might opt for lesser coverage and a larger percentage, Meanwhile those depending on their Turo earning might be interested in the loss of hosting income coverage that comes with the Premium option. Ultimately you’ll want to be sure to consider your options carefully and choose the coverage that makes the most sense for your situation.
Overall renting out your car on Turo may allow you to make some extra money, but you will need to put some effort into it.
From crafting an effective listing and offering perks that will attract renters to keeping your availability up to date and responding to renters quickly, there’s no question that renting your vehicle on Turo will take some work — putting the hustle in side hustle if you will. At the same time, regardless of whether you just want to make some spare cash in times when you don’t need your car or you want to start your own little business renting out vehicles, Turo might just be able to make that happen.
For more side hustle ideas and tips checkout https://moneyat30.com/category/side-h... as well as my side hustle videos Side Hustle Ideas
5 سال پیش
در تاریخ 1398/02/04 منتشر شده
است.
6,273
بـار بازدید شده