The number of websites that offer car rentals between individuals continues to grow because of higher the demand. If you own an eco-friendly car, easy to drive in an urban environment, the rate of return will probably be higher than for a big sedan. On average it is estimated that the remaining costs for a car owner amount is up to about 30% of the rental price, the rest being his profit.
How to hire out frequently your car
Renting cars by the hour for people around you can be a profitable business. This kind of operation has a dual purpose : it makes it possible to find a cheaper car and thus avoid paying the higher price for an identical product in an agency and it also allows the owners of the vehicle to amortize the costs of his car. It is essential to post attractive photos of your vehicle and the more beautiful they are, the more you increase your chances for rentals. Give informations and maximum details about the model, options and accessories, general state of the vehicle, minor problems etc…The car owner should add a profile picture.
Putting an online announcement with the very needed details increase your car chances to be chosen by the locals. Online car hiring is cheaper and easier on specialized peer to peer websites like
uk.getaround.com.
Choose the right rental price
The right rental price means a price in accordance with the type, the model and the age of the vehicle, including the level of demand and peak booking periods for car rentals. If you are a new owner, start with a low price to obtain easily your first rentals and collect a positive feedback. It is essential to update your agenda to accept a request only when your vehicle is free for rental. The more requests you have the easier you can go back in the search results. Another good tip to hire out your vehicle as often as possible answer quickly, your ad goes back in the search results.
Ensure effective follow-up of rentals
A satisfied customer is a customer that returns and that can bring others. Specify clearly your rental conditions to avoid rentals that do not suit you. To improve your positive response rate, indicate the rental conditions for your vehicle : rental period (e.g.: rental of minimum 1 full day or 2 days), mileage (ex: not more than 100 km per day) and booking period (e.g. no last-minute requests accepted). Renting out your car also means setting clearly all rental conditions.