Lectron CCS to Tesla Adapter : ev-lectron.com/raH9Da Dual-Level Tesla Charger: ev-lectron.com/yzpgo9 Amazon: CCS to Tesla Adapter : www.amazon.com/dp/B0B966542N?maas=maas_adg_3DA924616A60C24419812D818414E075_afap_abs&ref_=aa_maas&tag=maas Dual-Level Tesla Charger: www.amazon.com/dp/B0BLXT3HS8?maas=maas_adg_B378FA37AE4E258C74EA7F3F7F63EF83_afap_abs&ref_=aa_maas&tag=maas
But, but Ryan, it looked good on paper, lol. At least youl tryout. It's not that easy or as it's peached as potential business. especially when dealing with people.
I was a landlord for 20 years and this sounds exactly like my experience. If dealing with difficult renters and abusive situations doesn't really bother you too much, you can make money doing this over time. For most folks, however, you just get tired of engaging with messed up people who have the ability to damage and destroy anything that gets within a sniff of their ecosphere. And that's with 90% of my tenants being good to deal with. It was that lousy 10% that made me get out. Been six years since I sold that last property and so glad to be away from all that.
The biggest thing with any rental type investment is your initial investment. You're initial investment must be low enough to make the income worth the hassle. I currently own 6 rental properties that I purchased between 2008 and 2012 during the big housing crash (160k purchase prices for 400k+ current value), so they are all very profitable. On the short term rental side, it can be worth it if it's intent isn't income, but to offset cost of ownership for a vacation property or car that doesn't get used often.
We’ve been mostly lucky thus far with property renters who’ve been longer term tenants (12+ months). We tend to look for specific traits in our renters now and our filters seem to work as we’ve had very good experiences for the past few years. Our one Airbnb property has been hit and miss with tenants though.
Sorry to hear this. I was one of the 44 renting your S Plaid and I just wanted to say again thank you - driving this car in Cali is still one of my most amazing experiences.
Even tho the business didn’t work out as expected you were able to bond with your old man while making some money 🙏💯 the best thing we got is our folks
I only got through 6 trips on my 2019 model 3 on Turo before I pulled it. The hassle of dealing with irresponsible drivers and battling with TURO to get compensated for guest extra charges was making me feel the projected value was not worth the time. Mostly, came down to last guest that smoked in the car and left their smoke smelling jacket in the car for me to bring home. Since it is my secondary vehicle and I'm allergic to cigarette smoke, I could not have that happen again. It took months to get rid of the smell.
I'm sensitive to smoke too having asthma. My neighbors in the adjacent apartment smoked a few times and it would go right into my bedroom. Their lease ends in a month and I'm hoping the next tenants are better.
Just in case you run into the situation again, buy/rent an ozone generator and run it in the car/room/etc. for a while and it will get rid of the smell.
Oh man does this stuff bring me back. Was a landlord for a little bit, but never again. Other people will never have the respect or care for your stuff like you do. A long time ago I worked for a major car rental company that everyone has heard of, and your stories bring back lots of memories. The car rental business is setup in a way with a goal is to essentially break even on the rental, or operate at a small loss. How to they make their money then you ask? They don’t buy vehicles near market rate. They would buy thousands of vehicles at a time, direct from manufacturers, at steep discounts below what car dealership were buying the vehicles for. After a certain length of time they would figure out the best time to sell the vehicles and then pull the cars out of rental, typically with 30k miles. Trucks were by far and away the most profitable. It was not uncommon to sell a used truck with 25K miles added for $10K+ more that what they bought the truck new for.
Really interesting video, great to see more details on how something like Turo works for the longer term. As a consumer, I rented from Turo once (to test drive a MY before I got mine) and it was a great experience. The host was SUPER nice and even contacted Turo on my behalf when I screwed up and returned the car "late" (It was back in the driveway an hour early, but I didn't know how to use the app, so I didn't push the right buttons to check it back in until a few hours later). But from a hosting perspective I've always said "never". Seems like too ripe for abuse or something to go wrong and that seems to be the case for you. Just like AirBNB. While I know I'm not going to abuse someones car or home... unfortunately way too many people in this world have the mentality of "It's not mine so who cares!" rather than being raised right with the mentality of "It's not mine, so I should treat it *better* than I'd treat my own".
Tried to rent cars thru Turo a couple of times, and its clear you were one of the better people renting your car out. When the listing is passive aggressive to begin with, its just easier to deal with one of the car rental companies. Like AirBnB, I think its an idea that doesn't work with most people who don't bother to put in the effort you did.
I rented a Tesla Model 3 dual motor on Turo for a weekend and it was great. the only snag was when i picked up the car i took photos and the owner said, "you don't need to do that. i already did that." i was like... "uh. the website said i should." it just seemed sketchy
@@ellencatalina2219 So, you applied to rent, got approved, never used the service and then got banned? That's weird. I applied for Turo back in like, 2019 but never used it until a few months ago and my account was always active.
I do Turo with a friend. Cars are tools and u expect it to come back with some damage. All I have to say is get real comfortable with the body shop guys 😂
My friend signed up for Turo and added her brand new car. The driver picked up the car in Atlanta and was given a certain mileage to drive. A week later the car wasn’t returned and my friend ended up finding the car 10 hours away in Miami on the side of the road with the motor blown out. It was brand new and left abandoned. She had to get it towed back and she had to still pay on it monthly with a blown motor. I’m not sure what the guy did to that car but he killed it!
This is exactly how i feel about being a host for airbnb and uber, both of which I've done. Trusting with people with your own belongings is an exercise in frustration. They're almost always selfish and the pay simply has never been worth it for me.
My family trandtional rents an old house of ours... And yeah the last renter really was bad but the one before that were really good so yeah just being a land lord n general can be tough. I'm personally happy just being a content creator which has been the past 10 years great.
I had a nightmare experience with my very first rental. The renter drove all the way to the border of Mexico before I contacted him and stopped him from going to Mexico with my truck. He was mad that I had ruined his plans even though he had originally told me he was going to Vegas. Total bs. So my first Turo rental was my last one. I’ve been a guest many times and it has been great each time.
@@keeppushin6725 the most glaring reason I’d imagine is they straight lied about where they were going. If they’re trying to hide their intentions behind a lie, their intentions can be safely assuming to be bad.
Hey Ryan, thanks for being forthcoming and honest with your experience with Turo. I actually decided to do Turo because of you mentioning it on your channel. I also marked your Plaid S as a favorite. I knew something was wrong when you delisted the car(s). I was hoping to find out from you the reason why you stopped Turoing your cars. And now I know. Keep up the good work with your channel.
I have 7 teslas on turo rn and it really is a full time job. I enjoy talking to people though and love tesla so it’s just a fun thing I do. I make money elsewhere passively so this keeps me busy. I’m sorry to see others having a bad experience as I always do my best to go above and beyond. I have over 300 trips and have a 5 star review. My end goal is either robo taxi or just sell them all off and buy another house. Spring and summer travel should be fun and might even add the ultra red plaid S to complete my collection as I have the 3,X,Y.
@@mmf9765 No limiter and I can see if they’re speeding only if I’m actively tracking them in the tesla app. There are 3rd party apps that notify you when they speed etc but I’m not that invested in it. The cars are covered.
Thank you for being honest and despite all those issues, patiently recording it for us. Some crazy renters out there. Also surprised how frequently drivers are rear ended.
Ryan, this is another A+ video, thank you. It also stressed me TF out! I had briefly thought of doing Turo as an excuse to get an X and have the costs defrayed, and boy am I glad I didn’t. I have a busy day job that doesn’t allow me to do anything else at the drop of a hat. So this video has killed that dream definitively. So helpful and informative as usual. Thank you!
Thanks, I am surprised you lasted that long. People will treat them like rentals and trash them, and hope you do not spot the damage when they return them, but on the plus side it helped with your channel and you got a few videos out of it.
I'm trying to understand why he kept it up for so long. The only thing I can come up with is that it was helping his YT channel so much that it was temporarily worth it.
Ryan, thanks for sharing your experience. This is what makes youtube such a valuable resource. I have been a landlord in the past and have had tenants turn off the heat while on vacation in winter only to have my water pipes freeze and cause tens of thousands of dollars in damage. I will never again do that.
I’m so sorry that you experienced this… I use Turo often while traveling - actually - I’m exclusively Turo -5 star renter because I live by this philosophy of treat everything like it’s your own 🤷🏻♂️
Last year I rented a Model Y for a week in Portland, Oregon from a busy Turo rental operation. I took good care of the Tesla and when I returned was thanked for being a conscientious renter. That said a lot.
Sounds exactly like my experience m, my brother and I have 30 cars in our Turo fleet. It’s a ton of work but it’s fun when all the cars are Rentee out. I definitely underestimated the sheer stupidity of the general public renting cars. They don’t read and complain about the things they didn’t read. Omg. 1 year in, a few hundred rentals, I’ll keep at it. Just had one car totaled but Turo did pay it off which was nice. Thought I was gonna still be on the hook for the difference
Yep. I used to Uber people in my BMW M3.... not cause I needed the money, just wanted to see what it was about. People were such insane ay wholes, I quit doing it after a few months.
I haven't watched your videos in a while, i remember when you made videos talking about trading in your Honda Fit and ordering the Model Y and showing the whole experience. You made me excited too, Now here you are retiring your Turo fleet. Amazing to see how far you've come.
I am grateful for this video! I had considered it with my current Tesla for when I buy my next one, cuz we all know that Tesla won't give you a decent trade-in. I was going to sell it but then considered maybe doing turo for a couple months just to see if it would at least pay for its payment and insurance. And anything over that would be wonderful. It's very helpful to know what are some things that could come up and be aware of, to even consider this. Thank you again!
This was an interesting video for me to watch. I'm from the other side of the Turo experience (NOT with Ryan, of course). On my recent trip to SoCal, I rented a Tesla Model 3 from another guy on Turo in SoCal for 9 days. I had a very good experience, I'm pleased to report. I'm sorry, but not that surprised, that it didn't work so well for you, Ryan. Unfortunately, when one is dealing with the general public, one can encounter a lot of unbelievably bad behavior! LOL
Honestly I was waiting for this video after seeing the other video of the 'costs' of fixing a Tesla that had absolutely NOTHING to do with the quality of the Model Y itself, but EVERYTHING to do with Turo and the people train-wrecking your vehicle. Smart man -- glad you finally came to the conclusion that it's ultimately not worth it!!
Good video! I've got 30 cars on Turo, and some of the rentals can be a total nightmare. I'm profitable, though, and overall it's much more laid back than past businesses and careers. Biggest misconception is the passive aspect. It is far from passive. Probably worst was having to fly across the country to recover one of my cars and drive it 1,500 miles home. 10 states in 24 hours, and had to hurry because someone (me) has to keep the rest of the Turo vehicles on the road.
@@clayreacts very nice! I have a number of Cybertrucks on pre-order so this is super interesting to me! Any pointers on good resources to learn more about how to operate efficiently or was it all trial and error?
Neat perspective from a renter's POV. I agree with most everything you said regarding the negative experiences except limiting the renter that went 145mph on a highway - presumably with little to no traffic. Now if any damage was caused (and if any was at that speed it will clearly be a total scenario, then use telemetry to prove the renter at fault), but outside of that it's between the renter and law enforcement regarding tickets / legal fees if they encounter that. My point is you'll get a ton of damage, bumps/scrapes/curb rash from inattentive drivers going over bumps and pot holes much more compared to the joy ride guy doing high speeds in a relatively controlled manner who has his own self preservation at stake too. The car wont fall apart simply because it's going 90% of its top speed. Anyways great video, and yes certainly not as "passive" of an income as some make it out to be.
Thanks for sharing your experience. I had my LEAFs on Turo to help cover the cost over overlapping leases... got the 2014 while I had a few months left on my 2012 lease, etc. Similar experience to yours... most renters were no problem, some were awesome, and you always get 1-2 that are just awful. Worst one was the renter who did a hit-and-run on someone's dog and didn't say anything. Didn't know about it until I received a police report in the mail.
Great video! We’ve rented a 3 and Y through Hertz and it’s hard to beat. The cost was exceptional, all things considered. Hard to rent on Turo when a 3 is dirt cheap and pick up/return is at the airport.
Especially when you discover the "Rental Fee" on top of the advertised price (its not shown until you try to book it) - it just made it more expensive than the mainline rental agencies.
@@pmenadue Turo and AirBnB were good values back in the day, but as soon as the VC money stopped the cheap rates they became worse options. I have run a guest house for 15 years now (direct bookings) and I'm annoyed as hell about the cleaning fees most places charge. By the time I add on the cost of cleaning fees and other stuff I'm usually way past the cost of just booking a nice hotel. Last trip we did that with 5 of us (two rooms). It's only useful for whole house bookings when you want to be on a beach or certain location with a kitchen to use. I think my last AirBnB was 2015 for a week when a hotel would have been marginally more but the location was close enough for me.
I was a land lord for 5 years. It was tough even with mostly good renters, but it just takes one bad renter to ruin any good experiences. On year 6 I called it quits, and I DO NOT miss it.
I have thought about it since my area doesn’t have many Teslas. But I know myself I would be constantly watching the app to see what they were doing. I am too picky about my cars plus so many bad drivers out there. Thanks for sharing your story.
Ryan, my wife and I rented our high tech RV for a year and did pretty well but as you state, it all depends on your tolerance for headaches. We eventually sold the RV outright and have not rented anything we own since.
I rented a model Y from hertz and the amount of road rash that was on the right rear tire was insane. That has to be an endless hassle for anyone renting those cars.
I also rent out a Tesla Model Y and a Porsche Macan on Turo. I can definitely notice that the Macan guests treat the car with a lot more care for some reason, I would not leave the Model Y on there for too long, even though I lowered my mileage allowance. I also 1000% agree with Ryan that Turos cancellation policy is very unfair to guests, just this morning I had a guest cancel his week-long trip 30 hours in advance and I got paid out $0 even though he clogged up my cars schedule. The big problem with Turo is that overall earnings per car have steadily declined over the last year or so, so it’s harder to make a profit, and especially hard when you factor mileage depreciation
I own a Model 3, so I decided to rent one through Turo for the first time around Christmas - a slight splurge over a regular rental. I curbed one wheel, and the owner insisted on replacing the whole wheel, costing me about $720, rather than the $125 fix. Initial claim was for $2200, because she thought she might have to claim loss of income from not being able to rent it, plus a rental car for that time, as if a scrape on the side of one wheel somehow made the car inoperable. Ridiculous. Had other issues with the owner - she was late for pickup and lied that she was stuck in traffic. Her sentry cam showed that she left her house 20 minutes after she wrote she was stuck in traffic. And she delivered it with a 44% charge. While I was waiting for the wheel to be sorted out, the time to leave a review expired, so now it seems, I have no recourse for the insane charge, late pick up, and low state of charge at delivery. Though if someone has advice, I'd love to hear it.
That’s super sad, I just had one of my Tesla wheels curbed on a rental, and I just offered the customer to pay the $125 for the repair man to come fix it and call it square, and it won’t take more than 1 hour to fix. That’s definitely a terrible experience, shame on the host.
Thank you for this video. This aligns exactly to my view that the vast vast majority of people will never ever rent their fsd fully autonomous Tesla to the general public due to the constant oversight, maintenance, and insurance issues. Only thing not talked about was throwing up in the car or the car stripped of parts. I'll enjoy my future Tesla and I'll keep it to myself. I wouldn't be opposed to riding in autonomous taxi or renting someone else's...but not mine.
Hey Ryan. You are way more patient than I am!! I would’ve been out after the red Y issues! Thanks for sharing. My Y is staying in my garage for my wife and my use only! 😂
I don't blame you. I used to clean offices as a side gig and I have experienced many of the utterly disgusting things that people do - defecating and urinating everywhere, wiping boogers on the walls, sticking used chewing gum under chairs and desks, emptying ashtrays on the carpet right next to an empty trashcan, leaving used condoms and tampons laying around, etc., etc.
Thank you for your review. I was considering renting my 2023 model y on days I won't use it but it seems like a hassle dealing with people and the limited time required to have the vehicle rental ready; especially if you want to make money
Thank you very much! I am about to go on Turo but was not sure if I wanted to get a Tesla to do that. I guess you gave me the answer I needed. Great channel by the way!
Thank you for this video! I’ve always thought about renting my Tesla Turo after I purchase my next car. This has definitely helped me make my decision!
Unfortunately a lot of side businesses end up going this way where you learn a lot but then realize it's not worth the effort. I have done it at least three times so far.
Thanks as always for sharing your experience with Turo. I looked at Turo as an option as a way to offset the costs of a new car, but since my car is always 'my baby' and stories of renter damage and insurance problems really scared me. I ended up with a Model 3 LR and to date i'm the only one who's ever driven it and I'm fine with that :)
That lectron adapter is only up to 150kw. The official tesla adapter is 250kw. It feels silly to advertise an inferior product that costs more than the official tesla adapter.
Wow thanks Ryan for elaborating the nooks and crannies of how joining Turo requires an patience and backbone with guests taking your teslas. I hope you and your family get an awesome tesla soon when you sell plaid and 3. We all learn from you a lot so God bless you and keen observations going forward.
Yeah, I considered doing the same but that was about the time Hertz made the deal to get more Teslas in the fleet and I figured it would be hard to compete with them. I actually rented a Model Y in Denver from Hertz on a Spring Break ski trip and it was only $70/day - which was about half what other AWD vehicles were going for. Also, the experience through Hertz was actually pretty nice - I'm not sure I could provide the same level of service.
Thank you for sharing your experience. I've never rented my car out on TURO but I have frequently rented Tesla's on there for all my road trips, and recently I even tried it on a few business trips. Everything you are saying makes a LOT of sense, very rarely when I go to re-rent the car is it available on TURO. Of the 15 cars I've rented over the past few years, only 1 of them still shows as active, the rest are not. Most people probably close up shop, although I'm sure some of them are unavailable due to being in accidents and other issues. Given that, I would never rent my Tesla.. I finally got a model 3 and love it, so I don't need to use TURO as much any more. :)
I rented a 16 model 3 while in Albuquerque from Turo and loved it. The owners dropped it off at our house and picked it up from there as well. I accidentally curbed it while in a drive through and managed to cut a parking lot curb too tight. The owners were great about handling the damage. I’m currently looking at buying a 18 model 3 used as I want the radar and ultrasound sensors
I've rented from Turo about 5 times. It was mostly good. Never a rotten experience but some hosts were less than engaged and some vehicles were not clean or performing properly (no AC). Anyway, just a perspective from the other side. Sounds like you were a great host and totally understand why you left the platform.
Nice review. Many, if not most, of the Euro disadvantages will apply to using robotaxi option on one's personal car. I remain unconvinced FSD-robotaxis will be anything other than a replacement for regular taxis/Ubers/etc. Niche market.
If Tesla can get the cost of robo taxi lower than the cost of owning a car then I imagine a lot of people will switch just to save money. Some people who don't drive a lot already use taxis/ride-sharing because it's cheaper, but with robotaxis it could end up being a money saving option for a much larger percentage of people.
@@Cornerback3141 Yes 100%, people will rent/use them, but at what cost to the owners? We probably agree that this business model will mainly work for corporate entities, not private parties.
I'm new here and watched the whole video. Happy you realized eventually (rather than never) that this just wasn't worth it anymore or maybe really wasn't worth it ever.
I used Turo for the 1st time last week in a Tesla 3 standard, I loved it. My 1st host had to cancel because the previous renter returned the car in such bad shape, so I feel you on how some people can be so inconsiderate with other people's property.
My Turo experience as a car owner was a nightmare ... car was parked illegally and subsequently towed to a city impound lot. In addition to parking violation and storage fees, the car had body damage and the interior was newly filthy. Car needed body repair, paint, and extensive cleaning -- that was the 1st and only time I rented my car on Turo.
After listening to you, I had to admit, I thought you skipped a gear someplace along the way. Your experience pretty much proves that. The comments from your viewers just adds further evidence. Got to give lots of credit you did give it a try and there were lots of good people.
i considered getting a couple of cheap barely qualifying cars to do turo. upon some researach, dealing with scummy people in vegas was red flags galore to start. maintainence wasnt so much an issue, as i can fix them myself. but when i would look at the prices customers pay, and so on, I just didnt see it as profitable. turo is best if you have a second car that sits a lot, its paid off, and let it make a few bucks for ya...enough to say use that older second car to make the payments on your newer car.
Ryan, you were a great Turo host; taking care of cars and guests like the way you described it; that's very commendable. Years ago, i tried Turo. For me the biggest problem was dropping and picking up the car. it invariably involved 2 persons which based upon the income it was generating wasn't worth enough and so i quit. .
Another great and detailed video, Ryan! Thank you for confirming our decision not to dance the Turo is the right one! I have to wonder how your red Y is doing with the new owner today!
Someone I know rented their vehicle on Turo. People stole it and drove it across the country. It was a major pain getting it back and Turo was not helpful to them either.
Someday having my Tesla used as a self-driving short trip taxi to recoup the cost of the car might be something I'd consider but I'd never let a stranger drive my Tesla like a rental. Too many people use and abuse rental cars.
Thank you for sharing your experience renting out on Turo. Your experience pretty much align with my expectations, and are why I'd NEVER rent out my personal car. I like to keep my car in pristine condition, and most other people will never treat a rental they would their own car. Plus, most people just curb wheels/tires like it's nothing, and we all know how easy it is to damage Tesla Wheels/Tires. All in all, it looks like it was a fun experiment, but not a sustainable long term business without significant effort.
12:27...i didnt notice it the first time this image popped up, but is that tyre wear normal for Model Y....or is that the aftermarket suspension issue?
Great video, I feel like I’m in a similar scenario with motorcycle rentals I have on rider shares (turo for motorcycle), I’m going to sell off my bikes this year and cut back or quit. So much work for little profits and lots of liability. The math definitely doesn’t work out to rent a Tesla or my Jeep on turo in San Diego. But on the flip side my first experience driving a Tesla was on turo in 2016 and I have meet so many like minded friendly people renting my motorcycles out.
Yep! I had similar hopes for my old house (renting it out and passive income and all that), when I saw the credit scores of the potential renters, I got into SELL SELL SELL mode. Got lucky and sold for an amazing price in current market.
Lectron CCS to Tesla Adapter : ev-lectron.com/raH9Da
Dual-Level Tesla Charger: ev-lectron.com/yzpgo9
Amazon:
CCS to Tesla Adapter : www.amazon.com/dp/B0B966542N?maas=maas_adg_3DA924616A60C24419812D818414E075_afap_abs&ref_=aa_maas&tag=maas
Dual-Level Tesla Charger: www.amazon.com/dp/B0BLXT3HS8?maas=maas_adg_B378FA37AE4E258C74EA7F3F7F63EF83_afap_abs&ref_=aa_maas&tag=maas
But, but Ryan, it looked good on paper, lol. At least youl tryout. It's not that easy or as it's peached as potential business. especially when dealing with people.
All good information here. Thank you for sharing this experience. I expect robotaxi is going to be similar.
I was a landlord for 20 years and this sounds exactly like my experience. If dealing with difficult renters and abusive situations doesn't really bother you too much, you can make money doing this over time. For most folks, however, you just get tired of engaging with messed up people who have the ability to damage and destroy anything that gets within a sniff of their ecosphere. And that's with 90% of my tenants being good to deal with. It was that lousy 10% that made me get out. Been six years since I sold that last property and so glad to be away from all that.
What did you do for work/investment after selling the properties?
Exact same experience here, so I got out.
The biggest thing with any rental type investment is your initial investment. You're initial investment must be low enough to make the income worth the hassle. I currently own 6 rental properties that I purchased between 2008 and 2012 during the big housing crash (160k purchase prices for 400k+ current value), so they are all very profitable.
On the short term rental side, it can be worth it if it's intent isn't income, but to offset cost of ownership for a vacation property or car that doesn't get used often.
We’ve been mostly lucky thus far with property renters who’ve been longer term tenants (12+ months). We tend to look for specific traits in our renters now and our filters seem to work as we’ve had very good experiences for the past few years. Our one Airbnb property has been hit and miss with tenants though.
@@AmericanCulture a lot of that is screening your tenants.
This sounds like a nightmare of a business. Kudos to you for doing it for that long of a time despite all the issues.
It can be. And that’s why it’s better to rent out cars you don’t care about or much cheaper cars. It doesn’t hurt as much.
All business has its stories
That’s the nature of business
@@netaverse7694 yes sir
Sorry to hear this. I was one of the 44 renting your S Plaid and I just wanted to say again thank you - driving this car in Cali is still one of my most amazing experiences.
Even tho the business didn’t work out as expected you were able to bond with your old man while making some money 🙏💯 the best thing we got is our folks
I only got through 6 trips on my 2019 model 3 on Turo before I pulled it. The hassle of dealing with irresponsible drivers and battling with TURO to get compensated for guest extra charges was making me feel the projected value was not worth the time. Mostly, came down to last guest that smoked in the car and left their smoke smelling jacket in the car for me to bring home. Since it is my secondary vehicle and I'm allergic to cigarette smoke, I could not have that happen again. It took months to get rid of the smell.
I thought that situation might happen. Smokers are less common but still out there. What a nightmare 🤯
I'm sensitive to smoke too having asthma. My neighbors in the adjacent apartment smoked a few times and it would go right into my bedroom. Their lease ends in a month and I'm hoping the next tenants are better.
Disgusting.inconsiderate. the minority ruin it for the rest.
Just in case you run into the situation again, buy/rent an ozone generator and run it in the car/room/etc. for a while and it will get rid of the smell.
Use ozone generator to get rid of odors. USE CAUTION. Do not breathe the ozone in. Read the manual.
Oh man does this stuff bring me back. Was a landlord for a little bit, but never again. Other people will never have the respect or care for your stuff like you do.
A long time ago I worked for a major car rental company that everyone has heard of, and your stories bring back lots of memories. The car rental business is setup in a way with a goal is to essentially break even on the rental, or operate at a small loss. How to they make their money then you ask? They don’t buy vehicles near market rate. They would buy thousands of vehicles at a time, direct from manufacturers, at steep discounts below what car dealership were buying the vehicles for. After a certain length of time they would figure out the best time to sell the vehicles and then pull the cars out of rental, typically with 30k miles. Trucks were by far and away the most profitable. It was not uncommon to sell a used truck with 25K miles added for $10K+ more that what they bought the truck new for.
Really interesting video, great to see more details on how something like Turo works for the longer term. As a consumer, I rented from Turo once (to test drive a MY before I got mine) and it was a great experience. The host was SUPER nice and even contacted Turo on my behalf when I screwed up and returned the car "late" (It was back in the driveway an hour early, but I didn't know how to use the app, so I didn't push the right buttons to check it back in until a few hours later). But from a hosting perspective I've always said "never". Seems like too ripe for abuse or something to go wrong and that seems to be the case for you. Just like AirBNB. While I know I'm not going to abuse someones car or home... unfortunately way too many people in this world have the mentality of "It's not mine so who cares!" rather than being raised right with the mentality of "It's not mine, so I should treat it *better* than I'd treat my own".
Tried to rent cars thru Turo a couple of times, and its clear you were one of the better people renting your car out. When the listing is passive aggressive to begin with, its just easier to deal with one of the car rental companies. Like AirBnB, I think its an idea that doesn't work with most people who don't bother to put in the effort you did.
I rented a Tesla Model 3 dual motor on Turo for a weekend and it was great. the only snag was when i picked up the car i took photos and the owner said, "you don't need to do that. i already did that." i was like... "uh. the website said i should." it just seemed sketchy
Same. I'm banned from renting on Turo, I have no idea why. I've never rented from them before and have a clean record.
@@ellencatalina2219 So, you applied to rent, got approved, never used the service and then got banned? That's weird. I applied for Turo back in like, 2019 but never used it until a few months ago and my account was always active.
You actually rented it out 100 times? I’m done after two
I feel U. I rented out my car about ten times. Soooo many issues, damage etc. People are horrible.
Done after the first try.
I do Turo with a friend. Cars are tools and u expect it to come back with some damage. All I have to say is get real comfortable with the body shop guys 😂
@@mingli1241 yeah I’ve been doing it for almost two years. Had a total loss and a variety of issues. Always tweaking my strategy and improving.
I'd never do it as I wouldn't want the inevitable and frequent issues with damage to the vehicle.
My friend signed up for Turo and added her brand new car. The driver picked up the car in Atlanta and was given a certain mileage to drive. A week later the car wasn’t returned and my friend ended up finding the car 10 hours away in Miami on the side of the road with the motor blown out. It was brand new and left abandoned. She had to get it towed back and she had to still pay on it monthly with a blown motor. I’m not sure what the guy did to that car but he killed it!
A very smart idea to rent out your new car to near strangers. Truly takes a special person to do something like this.
I blame the public school system.
@@Mikethetechguy74 Ditto.😂
lolol is she blonde? lololol
That's so messed up..
I literally set my turo up yesterday to rent my Tesla. Now i know better 😂
how did it go ?
I’m assuming it was a horrible experience cause they didn’t respond 😂😂
Great video and you gave it a reasonable time as a trial. Appreciate you sharing your experiences. Enjoy the channel Ryan!
This is exactly how i feel about being a host for airbnb and uber, both of which I've done. Trusting with people with your own belongings is an exercise in frustration. They're almost always selfish and the pay simply has never been worth it for me.
My family trandtional rents an old house of ours... And yeah the last renter really was bad but the one before that were really good so yeah just being a land lord n general can be tough. I'm personally happy just being a content creator which has been the past 10 years great.
Sorry you both had these frustrating experiences.
I would never rent out anything that I care about at all. Even if you have dozens of great renters, all it takes is one idiot to ruin everything.
Buy something, specifically to rent out, then use a management company.
*Always selfish
I had a nightmare experience with my very first rental. The renter drove all the way to the border of Mexico before I contacted him and stopped him from going to Mexico with my truck. He was mad that I had ruined his plans even though he had originally told me he was going to Vegas. Total bs. So my first Turo rental was my last one. I’ve been a guest many times and it has been great each time.
What’s wrong with him going to Mexico? I suppose it wasn’t unlimited mileage?
@@keeppushin6725 the most glaring reason I’d imagine is they straight lied about where they were going. If they’re trying to hide their intentions behind a lie, their intentions can be safely assuming to be bad.
@@keeppushin6725 strictly against Turo rules for one. And US laws don’t apply in Mexico.
U S insurance does not cover the car in Mexico
Hey Ryan, thanks for being forthcoming and honest with your experience with Turo. I actually decided to do Turo because of you mentioning it on your channel. I also marked your Plaid S as a favorite. I knew something was wrong when you delisted the car(s). I was hoping to find out from you the reason why you stopped Turoing your cars. And now I know. Keep up the good work with your channel.
This is why I think that using a personal car as a robotaxi will never be much of a thing.
I disagree, much of the problem is the human factor.
I have 7 teslas on turo rn and it really is a full time job. I enjoy talking to people though and love tesla so it’s just a fun thing I do. I make money elsewhere passively so this keeps me busy. I’m sorry to see others having a bad experience as I always do my best to go above and beyond. I have over 300 trips and have a 5 star review. My end goal is either robo taxi or just sell them all off and buy another house. Spring and summer travel should be fun and might even add the ultra red plaid S to complete my collection as I have the 3,X,Y.
You’re looking at this very differently than all the folks saying, “I’d never ...”. Good on ya.
Do you have a limiter on the car ? Are you able to see if people are/were speeding ??
@@mmf9765 No limiter and I can see if they’re speeding only if I’m actively tracking them in the tesla app. There are 3rd party apps that notify you when they speed etc but I’m not that invested in it. The cars are covered.
7 cars of course its a full time job 😮
"I just don't want to" is an underrated statement.
😂
Reminds me that Phoebe line in Friends, when Ross asked her to help with moving furniture "I wish I could, but I don't want to!"
A phrase women say to men millions of times in their life 😃👍
Hello beautiful 😍
Thank you for being honest and despite all those issues, patiently recording it for us. Some crazy renters out there. Also surprised how frequently drivers are rear ended.
If you're in USA then it's roughly 20,000 car accidents per day. 😬😬
Ryan, this is another A+ video, thank you. It also stressed me TF out! I had briefly thought of doing Turo as an excuse to get an X and have the costs defrayed, and boy am I glad I didn’t. I have a busy day job that doesn’t allow me to do anything else at the drop of a hat. So this video has killed that dream definitively. So helpful and informative as usual. Thank you!
Thanks, I am surprised you lasted that long. People will treat them like rentals and trash them, and hope you do not spot the damage when they return them, but on the plus side it helped with your channel and you got a few videos out of it.
haha! hardly a plus
I'm trying to understand why he kept it up for so long. The only thing I can come up with is that it was helping his YT channel so much that it was temporarily worth it.
Ryan, thanks for sharing your experience. This is what makes youtube such a valuable resource. I have been a landlord in the past and have had tenants turn off the heat while on vacation in winter only to have my water pipes freeze and cause tens of thousands of dollars in damage. I will never again do that.
I’m so sorry that you experienced this… I use Turo often while traveling - actually - I’m exclusively Turo -5 star renter because I live by this philosophy of treat everything like it’s your own 🤷🏻♂️
Great video. Yeah I simply couldn't handle the stress of dealing with bad renters.
Last year I rented a Model Y for a week in Portland, Oregon from a busy Turo rental operation. I took good care of the Tesla and when I returned was thanked for being a conscientious renter. That said a lot.
Sounds exactly like my experience m, my brother and I have 30 cars in our Turo fleet. It’s a ton of work but it’s fun when all the cars are Rentee out. I definitely underestimated the sheer stupidity of the general public renting cars. They don’t read and complain about the things they didn’t read. Omg. 1 year in, a few hundred rentals, I’ll keep at it. Just had one car totaled but Turo did pay it off which was nice. Thought I was gonna still be on the hook for the difference
If possible, don't deal with the public. People are the worst.
Yep. I used to Uber people in my BMW M3.... not cause I needed the money, just wanted to see what it was about. People were such insane ay wholes, I quit doing it after a few months.
I haven't watched your videos in a while, i remember when you made videos talking about trading in your Honda Fit and ordering the Model Y and showing the whole experience. You made me excited too, Now here you are retiring your Turo fleet. Amazing to see how far you've come.
I really appreciate your transparency. Love the channel due to what I perceive as your genuineness.
Passive income ! I want to compliment your fast but clear speaking while narrating through 100+ rental episodes.
I am grateful for this video! I had considered it with my current Tesla for when I buy my next one, cuz we all know that Tesla won't give you a decent trade-in. I was going to sell it but then considered maybe doing turo for a couple months just to see if it would at least pay for its payment and insurance. And anything over that would be wonderful. It's very helpful to know what are some things that could come up and be aware of, to even consider this. Thank you again!
This was an interesting video for me to watch. I'm from the other side of the Turo experience (NOT with Ryan, of course). On my recent trip to SoCal, I rented a Tesla Model 3 from another guy on Turo in SoCal for 9 days. I had a very good experience, I'm pleased to report. I'm sorry, but not that surprised, that it didn't work so well for you, Ryan. Unfortunately, when one is dealing with the general public, one can encounter a lot of unbelievably bad behavior! LOL
Honestly I was waiting for this video after seeing the other video of the 'costs' of fixing a Tesla that had absolutely NOTHING to do with the quality of the Model Y itself, but EVERYTHING to do with Turo and the people train-wrecking your vehicle. Smart man -- glad you finally came to the conclusion that it's ultimately not worth it!!
Glad you popped up in my recommended. New sub and want to say I’m fully invested in your content from the get go. Keep it up 💪
Good video! I've got 30 cars on Turo, and some of the rentals can be a total nightmare. I'm profitable, though, and overall it's much more laid back than past businesses and careers. Biggest misconception is the passive aspect. It is far from passive. Probably worst was having to fly across the country to recover one of my cars and drive it 1,500 miles home. 10 states in 24 hours, and had to hurry because someone (me) has to keep the rest of the Turo vehicles on the road.
Wow 30 cars! Impressive! If you don’t mind my asking, do you handle it all yourself? Do you have another job or does Turo now the main gig?
@@MultiSmitty11 no staff, and is main gig now :)
@@clayreacts very nice! I have a number of Cybertrucks on pre-order so this is super interesting to me! Any pointers on good resources to learn more about how to operate efficiently or was it all trial and error?
pretty sure turo will tow the vehicle back and charge the guest. not sure why you had to do the leg work. have 12 vehicles myself
@@Natitude were you high income before starting turo?
Neat perspective from a renter's POV. I agree with most everything you said regarding the negative experiences except limiting the renter that went 145mph on a highway - presumably with little to no traffic. Now if any damage was caused (and if any was at that speed it will clearly be a total scenario, then use telemetry to prove the renter at fault), but outside of that it's between the renter and law enforcement regarding tickets / legal fees if they encounter that. My point is you'll get a ton of damage, bumps/scrapes/curb rash from inattentive drivers going over bumps and pot holes much more compared to the joy ride guy doing high speeds in a relatively controlled manner who has his own self preservation at stake too. The car wont fall apart simply because it's going 90% of its top speed.
Anyways great video, and yes certainly not as "passive" of an income as some make it out to be.
Thanks for sharing your experience. I had my LEAFs on Turo to help cover the cost over overlapping leases... got the 2014 while I had a few months left on my 2012 lease, etc. Similar experience to yours... most renters were no problem, some were awesome, and you always get 1-2 that are just awful. Worst one was the renter who did a hit-and-run on someone's dog and didn't say anything. Didn't know about it until I received a police report in the mail.
Great video! We’ve rented a 3 and Y through Hertz and it’s hard to beat. The cost was exceptional, all things considered. Hard to rent on Turo when a 3 is dirt cheap and pick up/return is at the airport.
Especially when you discover the "Rental Fee" on top of the advertised price (its not shown until you try to book it) - it just made it more expensive than the mainline rental agencies.
@@pmenadue Turo and AirBnB were good values back in the day, but as soon as the VC money stopped the cheap rates they became worse options. I have run a guest house for 15 years now (direct bookings) and I'm annoyed as hell about the cleaning fees most places charge. By the time I add on the cost of cleaning fees and other stuff I'm usually way past the cost of just booking a nice hotel. Last trip we did that with 5 of us (two rooms). It's only useful for whole house bookings when you want to be on a beach or certain location with a kitchen to use. I think my last AirBnB was 2015 for a week when a hotel would have been marginally more but the location was close enough for me.
I was a land lord for 5 years. It was tough even with mostly good renters, but it just takes one bad renter to ruin any good experiences. On year 6 I called it quits, and I DO NOT miss it.
I have thought about it since my area doesn’t have many Teslas. But I know myself I would be constantly watching the app to see what they were doing. I am too picky about my cars plus so many bad drivers out there. Thanks for sharing your story.
Thank you so much for sharing your experience with Turo.
Ryan, my wife and I rented our high tech RV for a year and did pretty well but as you state, it all depends on your tolerance for headaches. We eventually sold the RV outright and have not rented anything we own since.
This video earned you a sub. This is exactly how I explain hosting on Turo, it is far from passive and barely lucrative given the expenses.
I rented a model Y from hertz and the amount of road rash that was on the right rear tire was insane. That has to be an endless hassle for anyone renting those cars.
I also rent out a Tesla Model Y and a Porsche Macan on Turo. I can definitely notice that the Macan guests treat the car with a lot more care for some reason, I would not leave the Model Y on there for too long, even though I lowered my mileage allowance. I also 1000% agree with Ryan that Turos cancellation policy is very unfair to guests, just this morning I had a guest cancel his week-long trip 30 hours in advance and I got paid out $0 even though he clogged up my cars schedule. The big problem with Turo is that overall earnings per car have steadily declined over the last year or so, so it’s harder to make a profit, and especially hard when you factor mileage depreciation
You are such a natural and realistic! If those are the right choice of words ! Meaning you never wasted my time watching a video
I own a Model 3, so I decided to rent one through Turo for the first time around Christmas - a slight splurge over a regular rental. I curbed one wheel, and the owner insisted on replacing the whole wheel, costing me about $720, rather than the $125 fix. Initial claim was for $2200, because she thought she might have to claim loss of income from not being able to rent it, plus a rental car for that time, as if a scrape on the side of one wheel somehow made the car inoperable. Ridiculous. Had other issues with the owner - she was late for pickup and lied that she was stuck in traffic. Her sentry cam showed that she left her house 20 minutes after she wrote she was stuck in traffic. And she delivered it with a 44% charge. While I was waiting for the wheel to be sorted out, the time to leave a review expired, so now it seems, I have no recourse for the insane charge, late pick up, and low state of charge at delivery. Though if someone has advice, I'd love to hear it.
That’s why you put the charge on an Amex and dispute it…
Parallel issues with Airbnb just a different industry.
The Tesla rim sticks out farther than the tire! It's way too easy to scrape the rim! But - it's usually around $200 to fix!
It's business
That’s super sad, I just had one of my Tesla wheels curbed on a rental, and I just offered the customer to pay the $125 for the repair man to come fix it and call it square, and it won’t take more than 1 hour to fix.
That’s definitely a terrible experience, shame on the host.
Thank you for this video. This aligns exactly to my view that the vast vast majority of people will never ever rent their fsd fully autonomous Tesla to the general public due to the constant oversight, maintenance, and insurance issues. Only thing not talked about was throwing up in the car or the car stripped of parts. I'll enjoy my future Tesla and I'll keep it to myself. I wouldn't be opposed to riding in autonomous taxi or renting someone else's...but not mine.
Hey Ryan. You are way more patient than I am!! I would’ve been out after the red Y issues! Thanks for sharing. My Y is staying in my garage for my wife and my use only! 😂
I don't blame you. I used to clean offices as a side gig and I have experienced many of the utterly disgusting things that people do - defecating and urinating everywhere, wiping boogers on the walls, sticking used chewing gum under chairs and desks, emptying ashtrays on the carpet right next to an empty trashcan, leaving used condoms and tampons laying around, etc., etc.
Thank you for your review. I was considering renting my 2023 model y on days I won't use it but it seems like a hassle dealing with people and the limited time required to have the vehicle rental ready; especially if you want to make money
There are some bad people out there. Their whole existence is to take advantage of good people. Great content Ryan!
Facts
I do not do Turo or any type of service like this. I did find this video enlightening. Well put together and informative.
Thank you for being so transparent about your Turo experience! I've often considered trying this out.
Thank you very much! I am about to go on Turo but was not sure if I wanted to get a Tesla to do that. I guess you gave me the answer I needed. Great channel by the way!
Thanks for all your hard work on your videos. You are the primary reason I bought a new 2022 model y long range last July.
Thank you for posting your experience with rental.
congratulations you have the midas touch
you will live long & prosper🤘
Very informative. This popped up on my recommended list and I watched it because I'm interested in business. Thanks for sharing your experience.
Thanks for the honest review. Renting out your cars sounded way too stressful for the rewards 😫
Thank you for this video! I’ve always thought about renting my Tesla Turo after I purchase my next car. This has definitely helped me make my decision!
Ryan you a good man. Your videos are much appreciated!
I did about
Unfortunately a lot of side businesses end up going this way where you learn a lot but then realize it's not worth the effort. I have done it at least three times so far.
Thanks as always for sharing your experience with Turo. I looked at Turo as an option as a way to offset the costs of a new car, but since my car is always 'my baby' and stories of renter damage and insurance problems really scared me. I ended up with a Model 3 LR and to date i'm the only one who's ever driven it and I'm fine with that :)
I’m so anal retentive about my vehicles I could never do this regardless of profit. Hats off to you and your dad. You
That lectron adapter is only up to 150kw. The official tesla adapter is 250kw. It feels silly to advertise an inferior product that costs more than the official tesla adapter.
Such a good detailed and insightful video, thanks!
Thanks Ryan for being real and telling what it's like.
You may well have saved me a tonne of effort.
Wow thanks Ryan for elaborating the nooks and crannies of how joining Turo requires an patience and backbone with guests taking your teslas. I hope you and your family get an awesome tesla soon when you sell plaid and 3. We all learn from you a lot so God bless you and keen observations going forward.
Yeah, I considered doing the same but that was about the time Hertz made the deal to get more Teslas in the fleet and I figured it would be hard to compete with them. I actually rented a Model Y in Denver from Hertz on a Spring Break ski trip and it was only $70/day - which was about half what other AWD vehicles were going for. Also, the experience through Hertz was actually pretty nice - I'm not sure I could provide the same level of service.
Thank you for sharing your experience. I've never rented my car out on TURO but I have frequently rented Tesla's on there for all my road trips, and recently I even tried it on a few business trips. Everything you are saying makes a LOT of sense, very rarely when I go to re-rent the car is it available on TURO. Of the 15 cars I've rented over the past few years, only 1 of them still shows as active, the rest are not. Most people probably close up shop, although I'm sure some of them are unavailable due to being in accidents and other issues. Given that, I would never rent my Tesla.. I finally got a model 3 and love it, so I don't need to use TURO as much any more. :)
I rented a 16 model 3 while in Albuquerque from Turo and loved it. The owners dropped it off at our house and picked it up from there as well. I accidentally curbed it while in a drive through and managed to cut a parking lot curb too tight. The owners were great about handling the damage. I’m currently looking at buying a 18 model 3 used as I want the radar and ultrasound sensors
Ultrasonic
Ultrasonic is a term used to explain how ultrasound is being used. Both are valid in this case. :)
And this is why I couldn't rent my car out once fsd is available. I'll use it for long trips where I can relax. Thanks for the honest review.
Also, your dad sounds awesome!
He is!
I've rented from Turo about 5 times. It was mostly good. Never a rotten experience but some hosts were less than engaged and some vehicles were not clean or performing properly (no AC).
Anyway, just a perspective from the other side. Sounds like you were a great host and totally understand why you left the platform.
Nice review. Many, if not most, of the Euro disadvantages will apply to using robotaxi option on one's personal car. I remain unconvinced FSD-robotaxis will be anything other than a replacement for regular taxis/Ubers/etc. Niche market.
If Tesla can get the cost of robo taxi lower than the cost of owning a car then I imagine a lot of people will switch just to save money. Some people who don't drive a lot already use taxis/ride-sharing because it's cheaper, but with robotaxis it could end up being a money saving option for a much larger percentage of people.
@@Cornerback3141 Yes 100%, people will rent/use them, but at what cost to the owners? We probably agree that this business model will mainly work for corporate entities, not private parties.
@@Cornerback3141 They will do that by raising prices.
Yeah a lot of robo taxis could end up being owned by Tesla or other fleet operators.
@@Cornerback3141 Yep and I think it is already in their terms and conditions that other fleet owners like Uber cannot add them to their fleet.
great video, very informative and educational, thank you for sharing your experience
its crazy how 99% of people will take good care of things they rent but all it takes is one person to set you fully back
145mph is crazy! That would've pissed me off immensely
Imagine going 145 mph
I'm new here and watched the whole video. Happy you realized eventually (rather than never) that this just wasn't worth it anymore or maybe really wasn't worth it ever.
Thanks for the honest review. Some people suck
I used Turo for the 1st time last week in a Tesla 3 standard, I loved it. My 1st host had to cancel because the previous renter returned the car in such bad shape, so I feel you on how some people can be so inconsiderate with other people's property.
Your dad sounds cool AF! I love renting from turo.
Thanks for all the details. You are a really good storyteller
My Turo experience as a car owner was a nightmare ... car was parked illegally and subsequently towed to a city impound lot. In addition to parking violation and storage fees, the car had body damage and the interior was newly filthy. Car needed body repair, paint, and extensive cleaning -- that was the 1st and only time I rented my car on Turo.
After listening to you, I had to admit, I thought you skipped a gear someplace along the way. Your experience pretty much proves that. The comments from your viewers just adds further evidence.
Got to give lots of credit you did give it a try and there were lots of good people.
i considered getting a couple of cheap barely qualifying cars to do turo. upon some researach, dealing with scummy people in vegas was red flags galore to start. maintainence wasnt so much an issue, as i can fix them myself. but when i would look at the prices customers pay, and so on, I just didnt see it as profitable. turo is best if you have a second car that sits a lot, its paid off, and let it make a few bucks for ya...enough to say use that older second car to make the payments on your newer car.
Ryan, you were a great Turo host; taking care of cars and guests like the way you described it; that's very commendable.
Years ago, i tried Turo. For me the biggest problem was dropping and picking up the car. it invariably involved 2 persons which based upon the income it was generating wasn't worth enough and so i quit. .
Sounds like a good call! I got stressed out just watching this video. 😅
Another great and detailed video, Ryan! Thank you for confirming our decision not to dance the Turo is the right one! I have to wonder how your red Y is doing with the new owner today!
Someone I know rented their vehicle on Turo. People stole it and drove it across the country. It was a major pain getting it back and Turo was not helpful to them either.
I have that EXACT black hoodie you're wearing AND I'm wearing at this very moment watching your video LOL!
Someday having my Tesla used as a self-driving short trip taxi to recoup the cost of the car might be something I'd consider but I'd never let a stranger drive my Tesla like a rental. Too many people use and abuse rental cars.
Thank you for sharing your experience renting out on Turo.
Your experience pretty much align with my expectations, and are why I'd NEVER rent out my personal car. I like to keep my car in pristine condition, and most other people will never treat a rental they would their own car. Plus, most people just curb wheels/tires like it's nothing, and we all know how easy it is to damage Tesla Wheels/Tires.
All in all, it looks like it was a fun experiment, but not a sustainable long term business without significant effort.
From the beginning it seemed like a lot of folks in the comment section of your videos told you to not use Turo Ryan. You finally listened lol.
12:27...i didnt notice it the first time this image popped up, but is that tyre wear normal for Model Y....or is that the aftermarket suspension issue?
Great video, I feel like I’m in a similar scenario with motorcycle rentals I have on rider shares (turo for motorcycle), I’m going to sell off my bikes this year and cut back or quit. So much work for little profits and lots of liability. The math definitely doesn’t work out to rent a Tesla or my Jeep on turo in San Diego. But on the flip side my first experience driving a Tesla was on turo in 2016 and I have meet so many like minded friendly people renting my motorcycles out.
Thanks for sharing in great detail Ryan. This is helpful.
Yep! I had similar hopes for my old house (renting it out and passive income and all that), when I saw the credit scores of the potential renters, I got into SELL SELL SELL mode. Got lucky and sold for an amazing price in current market.