In today's economy, many people are choosing to rent almost everything from houses and apartments to furniture to equipment and now trailers. Owning a trailer has become a burden for many people due to them being unused for extended periods. Instead of selling your trailer and not having it for when you do need it, consider renting it and putting it to use. Renting your trailer is easy and provides an opportunity to earn passive income. This guide will explore the advantages of trailer rentals from the owner's perspective and some steps to start earning additional income from your unused asset.
Why Renting Out Your Trailer is a Smart Move
Renting out your trailer is not only a financially wise move, there are also many less thought of benefits. Here are some of the top benefits to help you make your decision:
1. Transform Your Trailer Into a Passive Income Source
Renting out your trailer provides a relatively easy stream of additional income. Once you set your trailer up, and list it on a rental website like our platform, there is little effort required to see and maintain your newly found rental income. Most rentals are typically a few days to a week long so you will not have to worry about the trailer for a good amount of time. With so much demand from weekend moves to track days, and everything in between, your trailer will more than likely have a high utilization rate. For many owners, these rentals not only pay for the trailer monthly payments, they also give the owner some cash on the side to help fund other financial goals.
2. Prolong the Lifespan of Your Trailer
One of the main concerns we hear about from trailer owners is that by using the trailer or putting on rent, it will inflict more wear and tear and the trailer will be in worse condition. It is actually the opposite! By letting the trailer sit for long periods of time, it can start to build up rust, tire degradation including flat spots, and other issues due to inactivity. By renting your trailer out regularly, you are not only encouraging maintenance, but you are helping guard against deterioration from it sitting idle for too long.
3. Provide a Useful Resource for Others
Many people and businesses that rent trailers cannot afford one or do not need to own one full time. By renting out your trailer, you are helping bridge the gap for those people who only need it once or twice. By renting your trailer, you can also meet other people that share similar interests and can interact and connect with each other.
4. Cover Ownership Costs More Easily
As aforementioned, renting a trailer can provide some extra income. Furthermore, there are additional costs to owning a trailer many people don't consider that renting can offset. These include maintenance, insurance, storage, and other costs people don't take into account. You can start offsetting some of this strain and you might even be able to make it a cost-neutral asset.
5. Maintain Flexibility with Rental Options
You might be concerned about not being able to use the trailer when you do actually need it if you are renting it out… However, for a lot of people, that is not an issue. Many people will shut down their rental business for however long they need the trailer and pick right back up once they are done with it. You are also able to set your own terms and conditions for rentals and be selective about who you rent to. This should help ensure your trailer is used according to your standards and you know who you are renting to.
Steps to Start Renting Out Your Trailer
After weighing some of the pros and cons, you might be ready to start renting your trailer out. GREAT! Here are a few steps and tips to start your rental journey and help make a little extra money:
Step 1: Get Your Trailer Rental-Ready
Before you list your trailer for rent, make sure you have carefully inspected and fixed any issues with your trailer. Some of the most common maintenance issues can be found in this article, but include tires, lights, cables, chains, and other mechanical parts. Also consider washing and cleaning your trailer before taking any photos. Clean, well maintained trailers often attract higher rated reviews on Google and Yelp and can lead to more rentals in the future.
Part of getting your trailer rental ready is to make sure your insurance is in good standing and as a common rule of thumb, when you start renting, make sure your customer's insurance will cover a trailer rental.
Step 2: Capture High-Quality Photos
Once you determine your trailer is ready to rent, it is important to capture a few photos that show people what you are offering. Multiple, high quality, well lit photos can help attract more renters by showing off the size, condition, and different features of your trailer. We recommend taking at least one photo from every side as well as a photo of the inside or deck of the trailer. Showing off any unique features such as built in tie down anchors, ramps, a winch or other features can help boost your listing.
Step 3: Set a Competitive Rental Price
Research similar trailers in your area to set a fair rental rate. Pricing competitively not only attracts more renters but also ensures your trailer's value aligns with local demand. You may want to adjust prices based on peak seasons or special features your trailer offers. Transparent pricing with clear terms can increase your chances of securing regular rentals.
Step 4: Choose a Reliable Rental Platform
Listing your trailer on a trusted rental platform like Big Rentals. can simplify the rental process significantly. These platforms connect you with potential renters, offer booking management tools, and provide options for securing payments and insurance. Using a platform ensures a seamless rental experience and offers an added layer of security for both you and your renters.
Step 5: Create a Detailed Listing
A great listing is the gateway to a successful rental side hustle or business. Listings should include all pertinent information such as dimensions, weight capacity, features and anything else that a customer might need to know. In the trailer description you can add additional information like a rental deposit, rules such as weight limits, and maybe even your hours of operation. Providing all relevant information reduces the likelihood of misunderstandings and makes the rental process smoother.
Step 6: Promote Your Listing
Once your trailer is ready for rent, and you've listed it, it's important to let people know. You can start by sharing it on social media, creating a Google or Yelp listing, and even running a few ads. Many platforms will also allow you to promote your rental. By using a few of these platforms, you will increase your likelihood of securing regular rentals and maximize earning potential.
Why Big Rentals Inc. is the Right Platform for You
Big Rentals Inc. is a platform built to make the rental process simple, secure, and efficient for trailer owners. By listing on Big Rentals, you gain access to a wide network of potential renters and benefit from tools that allow you to manage bookings, schedule maintenance, and communicate seamlessly. For professional rental companies, Big Rentals also provides advanced management software, streamlining the logistics of handling multiple listings.
With Big Rentals Inc., you're equipped with everything you need to succeed in the trailer rental market, from secure payments to a platform that prioritizes user satisfaction and safety.
Conclusion
By renting out your trailer, you can turn a sitting financial liability into a cash flowing investment. Not only can renting it out cover most, if not all of the costs associated with ownership, it can take the burden of storing a trailer off your hands as well. The flexibility of setting your own schedule and terms allows you to rent it when you don't need it but take it off the market when you do. This will also help your trailer stay in great condition as active use prevents deterioration and typically requires little maintenance.
Choosing when, how, and withwhom you list your rental is easier now than ever and partnering with the right platform can save you time and energy while promoting your listing. If you have any questions about renting or have a trailer you would like to list, we would be more than happy to help you get started.