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Making Money On Turo Reddit

Your Industry One thing you should examine before using my financial statement for your organization is if my market is suitable to yours. Because I am in the Los Angeles market, the competition is fierce, and there are several vehicles available. In general, this lowers the average daily rent. Another consideration is that I reside over 30 miles from LAX and West Hollywood. This element has a negative impact on my hourly wage. If I streamlined my Turo operations and relocated to a more centrally placed home base, I could save hundreds of hours PER MONTH and get access to a more focused core of consumers. To put it simply: since I reside a long distance away from the great majority of possible customers, I must provide better service and a lower price to remain competitive. Why would you choose a vehicle that is a few dollars cheaper but requires you to spend at least an hour picking it up?

I was pleased with Turo and really earned some money from it. However, because of the new additional mile policy, tenants are putting too many miles on my vehicle, causing me to lose money. I used to provide my automobile at a reduced cost for 100 miles or more with an add-on package. I can't do it anymore since Turo requires me to place it at 200 miles. And the refund for mileage per limit is a farce. As a result, I lose all of the renters who want to test drive the vehicle, and individuals drive a lot more miles altogether. I receive no rentals if I adjust my pricing properly. Is it really worth it to list my vehicle on Turo these days? Any suggestions from other hosts? What is a smart approach for remaining profitable? I acquired my automobiles mostly to rent out. Thanks

Why use Turo?

How often do you come across a business that allows you to rent out your automobile in a couple of minutes? It's also worth noting that no other service out there provides the same level of adaptability as Turo. Turo makes sense from the standpoint of a tenant since you would wind up paying much more if you went to a vehicle rental business nearby. This is due to the fact that these large vehicle rental firms must pay for all of the automobiles as well as their different stores, hire workers, and so on. As a result, the client bears the brunt of any overages.

To begin with, earning money on Turo is more difficult than earning money on Airbnb. Cars demand things that a rental residence does not. For example, you'll need a secure location to store all of your vehicles while they're not in use. While you might start at home, if you want to grow, you'll need to consider the expense of a garage or equivalent storage space. There's also the issue of upkeep. People who rent out Airbnb units that they do not own have a huge advantage: their landlord is still in charge of upkeep. With a car, though, you will need to budget for any repairs and regular maintenance, as well as replacing the vehicle if it is damaged.

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