RV Rentals are Poised for Growth
After a roller coaster year during the pandemic, the RV industry is experiencing rapid growth to the point where there are backlogs in RV manufacturing. For those unable to find a recreational vehicle they want, renting a RV from a rental fleet dealer is the best way to experience the RV lifestyle.
The RVRA (Recreational Vehicle Rental Association) conducted a survey of rental fleet owners. Half of the dealers surveyed reported expanding their rental fleets for the next year. 25% of dealers are going to keep their fleets the same.
Because of the lack of new shipments and increased cost of RV’s, some rental fleets were sold off. Because of the backlog in RV manufacturing right now, some dealers do not expect to restock their fleet this year.
53% of dealers surveyed said receiving new RVs is their greatest challenge right now. Parts and materials shortages mixed with increased demand has generated a deep backlog.
However, even with difficulties in procuring new RVs, their current fleets have been successful. 21% of rental dealers reported at least a 50% revenue increase from the year prior. This can be attributed to increased prices for increased demand but also longer RV rental stays.
Tracking how the renters use the RVs can also help gauge future RV rental usage. 42% of surveyed dealers said the average contract duration was more than 7 nights. RV rentals in remote areas were up as people used the RVs as remote work offices or as virtual classrooms for their children. This allowed for the normalcy of leaving the home but provided the safety of social distancing. 70% of dealers believe trip durations will stay the same with 20% believing the trip duration will increase.
RV rentals are poised for growth in the current market climate. With an increase in inexperienced RV users, damage to your investments can happen. One main area of damage is the battery banks. Intellitec Products has created a smart battery disconnect, the Battery Guard® 1000 and Battery Guard® 1000 RV-C. These simple yet smart devices protect your batteries from dropping below a disconnect threshold. This prevents your batteries from dying, preventing you from having to replace your batteries.
For more information on the Battery Guard® 1000 series, check out the smart battery management page.