Car rental hosting
You rent out your car to travelers through Turo or Getaround. It earns while you're not driving, with insurance and wear to weigh.
Car rental hosting can be profitable, but there is also a learning curve that goes alongside it. A few people tell you about. The structure is different for everybody for me if I could start over with more capital I think I would’ve had a better overall success the past few years. I got stuck in a situation where I started out with some higher mileage vehicles that resulted in more maintenance than what I was expecting if I could start over, I would buy newer lower mileage cars. If you’re just starting out, it’s best to just use one car for a long time so there’s a lower risk while you experience the learning curve that goes with car hosting that way you can really have more experience and information before you decide if you want to expand and add another vehicle or more.
If looking to use your daily driver a few days out of the month to supplement income for the payment that’s ok. It can do that. If looking to buy a new car to drive and wanting to generate income instead of trading in. It can do that. Thats how I started.
The company has expanded and a lot better with the app and taking care of hosts. Getting paid is easy and quick as a beginner. I’d recommend starting with 1 to 2 use cars and you have to have a mentality to be OK with small dings. If I could change anything, it would be to probably by more sooner if I could, if you have the cash flow.
Most people doing car rental hosting overpay on taxes — here's the full write-off guide.
