We understand it can be a bit daunting setting a price for your vehicle for the first time, so we’ve put together a brief guide to help get you started.
At Mighway, we know campervans, so it’s a great idea to talk to a Mighway expert with you to work out the best price for your vehicle. You can even chose to let our experts manage the pricing for you, to help ensure you get the best return from your vehicle.
There are two elements to setting a price for your vehicle:
Firstly, a daily charge. This will be multiplied by the number of days in a trip. If you set the price at $150 a day, and they travel for 10 days – that's $1,500.
Secondly, per hire charges. This will cover things such as a cleaning fee, or linen hire. You can have multiple per hire charges.
Things to consider when setting the daily price:
- How old is your vehicle?
- How many kms has it travelled?
- How many guests can your vehicle sleep?
- Is your vehicle self-contained?
- Is your vehicle classic or unique? This can often increase appeal for renters.
- What amenities/features does your vehicle have?
- What extras do you include? Eg GPS, outdoor furniture, sporting equipment
- Seasonality / holidays – renter demand changes dramatically across the year, and you can command a much higher price over summer, and school holidays in particular. We help you keep track of these opportunities.
- Don't forget to factor in deductions for Mighways commission rate, and for GST as well (if this applies to you). These amounts may come off of your total amount when we go to pay you for the booking. If you're not sure about the commission or how GST works, feel free to contact the team or check the GST section of the website.
It’s also a great idea to have a look at traditional rental companies to get an idea of the prices they charge. You'll notice there is quite a bit of variation!
Don’t forget – we are available to help you determine the right price for your vehicle, and we are more than happy to assist in setting up a pricing plan.