Turn What You Own into Cash
Smart tips for launching a side hustle to
supplement your income in tough times
With the World Cup™ upon us, there is an opportunity for RV owners to earn some extra income by offering their RVs for rent as an alternative to a hotel room.
As prices in stores and at the gas pumps continue to grow, the popularity of the “side hustle” is growing along with them.
As expenses rise, families and individuals are making difficult choices. Instead of facing sacrifices, the side hustle is a chance for people to earn some extra income to supplement a regular salary or wage, whether that is to help make household ends meet, save up for a major purchase or to cover the costs of much-needed vacation time.
“Side hustles don’t have to mean starting from scratch,” says Michael McNaught, founder and CEO of RVezy, a leading peer-to-peer platform for RV rentals.
Mike offers the following tips for people considering their options for some extra income:
- Respect your schedule. These are earning opportunities on top of a regular job. Taking on a part-time job may not be the best option for most. Seeking a side gig where you can be your own boss and set your own schedule (think delivery or ride share) offers flexibility to work when you want and for how long you want. But even better is making extra income passively — without really having to do anything.
- Start with what you own. Rather than giving up evenings or days off, leverage the underutilized assets you already have. Could be extra parking or storage space, or target vacation seekers by offering up your home or your RV on the weekends when you aren’t using it.
- Prioritize trust, safety and platform credibility. If renting out your property, whether that is your home, cottage or RV, look for well-established peer-to-peer platforms that offer insurance, strong customer service support, user verification and dispute resolution. Platforms that offer a double-sided app (serving both hosts and guests equally) create a seamless experience, whether a user is a first-time renter, an enthusiast, an owner or a host.
- Price competitively, but be strategic about it. Research comparable listings in the area and adjust pricing based on seasonality, demand spikes (like holiday weekends) and the shape or condition of your property. Slightly underpricing at the start can help generate reviews quickly that can be optimized over time for margin.
- Treat it like what it is … a micro business. Track your income, maintenance costs, cleaning, repairs, fuel, platform fees and taxes (we’ll come back to this one) to ensure you are making money on the venture. Set clear windows of availability and automate responses where possible. Many side hustles fail not from lack of demand, but from poor management of time and hidden costs that eat into profits.
- Optimize for a good guest experience. Reviews are the bread and butter of boosting interest in your property. Make pick-up and drop-off seamless, provide clear instructions and maintain your property in excellent condition. A smooth user experience drives repeat bookings, better reviews and word-of-mouth, all key drivers on peer-to-peer platforms.
- Understand the tax rules in your area. Different states and provinces have different tax structures for the peer-to-peer rental marketplace. First, be aware of what you may be obligated to pay based on what you earn. But also, look for the platforms that make it easy. Some collect the required taxes on your behalf, so there is no worry or concern. Others do not, and if you don’t collect that tax and remit it to the government, the taxman could come calling and it could mean forking over a significant outlay of the money you have made.
For more information, please visit rvezy.com. Connect with RVezy on Instagram @myrvezy, YouTube at /RVezy, Facebook at /RVezy or LinkedIn.
About RVezy
RVezy is a peer-to-peer RV rental marketplace operating across Canada and the United States. Founded in 2016 by RV enthusiasts, RVezy connects RV owners with travelers seeking authentic, flexible road trip experiences. With the industry’s only double-sided host and guest app, award-winning customer service, and the most comprehensive roadside and trip interruption program in the market, RVezy is redefining what it means to rent, and own, an RV. Learn more atwww.RVezy.com.