Is your car spending a lot of time sitting in your driveway? Have you ever considered that maybe it could be put to good use when you don’t need it?
Wouldn’t it be great if you could rent it out to someone, making some side money, while also helping them to do the same?
If the answer is yes, HyreCar might be just what you’ve been waiting for.
HyreCar is a peer-to-peer marketplace where drivers and vehicle owners can connect.
HyreCar allows car owners to rent their cars to someone who wants to drive for a ridesharing service like Uber or Lyft. You can let people drive your car for ridesharing to make extremely easy passive income on a daily, weekly, or monthly basis.
HyreCar has been referred to as the Airbnb of the ridesharing industry. Airbnb provides a way for people to rent out their homes for a short while. HyreCar does the same for those looking to rent a vehicle on a short-term basis.
HyreCar allows people to rent a car for as little as two days. On average, rental costs range from $30-45/day, $200-300 a week, and $800-1100 a month. They also provide insurance for the duration of the rental, so everyone is covered!
HyreCar does everything in its power to prevent accidents from happening in the first place. Each driver must undergo a thorough background check, ensuring only the safest drivers are allowed to rent on their platform.
Tips to Become a HyreCar Preferred Partner
There are several things to keep in mind to become a HyreCar preferred partner. Because you set your own prices, you have to be careful about how high or low you set them.
You also determine how many miles your car can be used for – another important factor potential renters will look at. Your listing location will have a considerable impact on your potential customers, as they will only want to rent from locations nearest them. Delivering your car to a renter often makes renting from you more appealing.
Additionally, regular maintenance of your car is a must if you’re looking to rent it to someone. Keep in mind, you can list as many cars as you would like. More cars listed means more passive income in your pocket!
Determine the Best Prices for Rental
As a car owner, you set your own rental prices. Most people choose to rent out their cars for anywhere from $30-45/day, $180-250/week, and $800-1000/month.
If you tend to have a lot of time where you don’t need your vehicle, this could be a lucrative side gig. If you work from home, for example, it might be possible to rent your car to drivers for long periods of time on a regular basis.
Being able to set your own prices allows you to charge as high a rate as you want.
But don’t get too greedy – you’re always competing with others who are also renting their cars on the platform. It’s safe to assume that drivers will choose a vehicle other than yours if it’s similar and available at a lower rate.
Raise the Mileage Limit on Your Car
One helpful thing you can do is to raise the mileage limit on your rental. This gives you an edge over the competition by allowing a renter to use your car to a greater extent.
People want to be able to get the most out of their ridesharing gigs. By allowing your drivers to drive a higher number of total miles, your rental option will appear more attractive than others who might have lower mileage limits.
Choose Your Location Very Carefully
Location is another important factor.
People don’t want to have to travel far to rent a car – that kind of defeats the whole purpose! The closer to a central location you can list your car, the better results you will have.
Naturally, this grants those within close proximity to a large city an advantage. But you can always find ways to increase your edge even if you’re a bit farther from any popular centralized location.
For example, consider listing your car in a big city nearby, driving there to deliver the rental, and then taking some form of public transportation back home. When you need to pick up your car, you can take public transport back to the city.
Or have a friend give you a ride both ways!
Deliver Your Car to Your Renter
Being willing to deliver your car to the renter is a huge plus for most people. If they’re looking to rent a car, they certainly don’t want to have to drive out to somewhere to get it, assuming they even have the ability to do so in the first place. By offering to deliver your car to a central location, you maintain a distinct advantage over other car owners on the HyreCar marketplace.
Maintain Your Car as Well as Possible
Make sure your vehicle has been cleaned and well taken care of before renting it out. If someone encounters difficulties while renting from you, they probably won’t rent from you again, and other potential customers could hear the bad news.
A few important points to consider when maintaining your vehicle include making sure it is
- up-to-date on smog tests,
- has clean oil and adequate coolant/anti-freeze,
- tires with good tread and full air pressure,
- brakes and steering that work well,
- a clean interior as well as a clean exterior.
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If your car has problems more serious than any of these, then you ought to take it in for repairs before considering using it as a rental.
It’s also important to take measures to protect your car in case of an accident.
Be sure to have current photos of your car from all angles. If a renter causes damage, you will be able to prove that the damage was not there beforehand if you can show pictures time-stamped before the rental took place.
Consider Renting Multiple Vehicles at Once
One car is great, but two (or more) is even better!
If you can rent out multiple vehicles, you can really set yourself up for financial freedom through passive income. More cars listed on the HyreCar platform means more streams of revenue!
To become a HyreCar preferred partner with multiple cars (also known as a fleet owner) it’s also important to get Period X Insurance for your fleet. A tracking device also comes included with Period X insurance. This will allow you to monitor your drivers and minimize the number of late days they incur.
Make Money by Renting Out Your Car – The HyreCar Way
Now, you know everything there is to know about how to become a HyreCar preferred partner.
With HyreCar, you can earn extra income by renting out your car to others who are looking to become rideshare drivers. HyreCar allows you to set your own prices, determine your mileage limit, and cover your assets properly.
If you follow the steps outlined above, you will have a good chance of truly being a successful HyreCar partner and take your earning potential to the next level. After all, that is what HyreCar is all about – building roads to financial freedom.