What Kind of Work Is it?
Turo (formerly Relay Rides) is a car rental service that provides services similar to those of AirBnB, but for vehicles. If you have a reliable car that you don't use much, it's a way to put that vehicle to work and earn money from it. The service is available in every US State except New York.
Turo is essentially a car-sharing marketplace, operating through the internet and mobile phones. An easy-to-use interface links car users with car owners. The two parties agree on a price and the pickup and return points. Turo provides up to $1 million in insurance, and first-hand reports suggest a friendly attitude to problem-solving.
Turo rentals are for a minimum of one day, but the average rental is five days. Many renters are travelers on business or leisure trips, though users will also rent a car for anything from a local trip to a hot date!
Car owners can set their daily price and can adjust this to account for periods of high or low demand. Turo also provides a dynamic pricing program that will set a price for your car based on trips booked by other users of similar vehicles. Turo offers a "Turo Valet" program to expedite rental pickups and drop off at the SFO and LAX airports in California.Click to Apply
How Do I Get Paid?
You will be paid via direct deposit to your bank account within five days of the vehicle return date. You earn 65 to 85% of the trip price, with variation according to the vehicle protection package you choose. If you have commercial rental insurance and waive the Turo vehicle protection plan, you can earn 90% of the top price. Income earned from renting your car is taxable, and Turo will provide you with 1099-K forms.
Qualifications and Requirements
Your car must be legally registered in the US or certain provinces of Canada. It must be of the model year 2004 or newer, and have fewer than 130,000 miles on the odometer, and must have a fair market value of up to $75,000 in the US. The vehicle must be serviceable and in good operating condition.
Top Earner Tips
Be sure you describe your vehicle in detail, along with any features like luggage or equipment racks, GPS, sound system, etc. You should actively monitor car rental prices in your area and set your price to undercut the price of similar vehicles by enough of a margin to make your offer stand out. Check the calendar feature in the app and be sure to note any days the car will not be available. Your car will be easier to rent if it is positioned in a high demand area, like a city center or an airport. Of course, you'll want to read all documents carefully and be familiar with all terms.
Turo rentals are popular enough that some users in high-demand areas are buying cars specifically to rent on Turo. You'll want to compare your financing arrangements to your realistically anticipated income and work the numbers out carefully, but it can be done, allowing the canny user to effectively develop a fleet of rental vehicles and run a business from home!Click to Apply