Your Top 5 Concerns About Renting Out Your Motorcycle: Addressed.

Dec 5, 2023

Tags:ownerlisting-tipsgetting-started

Renter on Riders Share cleaning motorcycle repair and maintenance motorcycle

Owning a motorcycle is most definitely not the same as owning a car that you use for a daily commute. The motorcycle community is full of passion, drive, and a deep love for riding on the open road. Whatever your individual reason for riding, we understand that renting out your beloved bike to strangers is daunting at first and may be the reason why you haven’t made the plunge. Maybe you have an extra motorcycle you’re interested in making money on but are still worried about potential liability. 

We hear you. That’s why we wanted to take your concerns and answer them transparently. Still, if you have more questions, feel free to reach out to us! You can call us at (657) 200-5470 or email us at support@riders-share.com, and we’ll be in touch soon. 

First, what is Riders Share?

Think of Riders Share like the Turo or Airbnb of motorcycles. As the largest peer-to-peer motorcycle rental company in the United States, we’ve successfully helped thousands of renters find their unique ride. Whether you’re traveling or looking to try out a new bike, we have the largest selection of unique bikes to rent from worldwide, including popular brands like Harley Davidson, BMW, Ducati, Suzuki, and more, catering to diverse preferences and budgets!

Riders Share operates by connecting riders with owners, creating a space where motorcycle owners can turn their garage into a business by renting out their bikes, and riders can choose from a vast selection of rides to meet their needs. 

With a community of over 80,000 members and motorcycles across more than 2,000 locations nationwide, we’re able to stand out as the biggest motorcycle-sharing platform in the world. 

What makes Riders Share Unique?

  • Peer-to-Peer Sharing: We match underused motorcycles with carefully vetted riders who want to rent them. With added layers of safety, we ensure it isn’t just any Craigslist rental transaction- we’re a community of people who love adventure and togetherness. 
  • No more long lines: Unlike traditional brick-and-mortar rental companies, renters no longer have to wait in a long line or days to be approved for a rental. They can connect with you, the owner, within minutes. 
  • Advanced screening: We utilize machine learning to screen riders. This approach allows us to ensure a higher level of security for owners and renters alike. 
  • Comprehensive insurance: In partnership with our insurance company, we can offer different levels of coverage to both owners and renters, including things like roadside assistance!
  • Mission for affordability: Our mission is to make motorcycles more affordable by creating extra income opportunities for owners and helping non-owners get back on the road. We aim for a vibrant and accessible community in every way. 

But now, let’s answer your questions:

What am I agreeing to when I sign up to list my bike on Riders Share?

When you sign up to list your bike on Riders Share, you're agreeing to a set of terms that facilitate a smooth and secure rental experience. Key points include:

  • Application & Eligibility: Providing necessary documents like proof of registration and title and verifying your ability to legally rent the bike.
  • Maintenance: Ensuring your motorcycle is in excellent condition and meets legal and manufacturer's standards to keep riders and owners safe.
  • Honesty in Listings: Being transparent in your listings with accurate photos and details.
  • Owner Responsibilities: Manage rental agreements, respond to renters, and ensure your bike is well-maintained and ready for each rental.
  • Insurance and Fees: Understanding that Riders Share handles payments and insurance through partners but does not act as an insurer or party to contracts. 

By listing your bike, you join a community that values transparency, safety, and the joy of sharing the motorcycle experience. For more information on the details of our Owner’s Terms, check out our blog, “Breaking Down the Terms and Conditions for Listing Your Bike on Riders Share.”

What if someone gets hurt or damages my motorcycle?

When you list your motorcycle on Riders Share, you agree to a system designed to protect you and your bike. We offer different protection plans to suit your needs, including options for those with commercial insurance. You're required to conduct a thorough pre- & post-rental inspection, identifying any damage. Riders Share employs a rigorous screening process for renters. It provides guidelines for minimizing potential damage, including familiarizing renters with your bike, encouraging safety gear, and setting clear rental policies. 

This framework gives you peace of mind while renting out your motorcycle. It ensures a smooth and secure experience for both you and the renter.

For more detailed information on what to do if someone damages your bike or gets hurt, how to handle it, how Riders Share helps, and tips for minimizing the likelihood of it happening, check out our blog, “What if Someone Gets Hurt or Damages My Motorcycle? Damage Protection Insurance for Owners.”

Is starting a motorcycle rental business even a good idea?

Starting a motorcycle rental business through a platform like Riders Share can be a viable and less daunting alternative to setting up a standalone rental business. With Riders Share, you bypass the challenges of traditional business setups, like heavy initial investments, fleet procurement, and complex insurance arrangements. 

Instead, you use our platform to list your own motorcycle, tapping into an established community and leveraging our insurance and rental infrastructure. This significantly lowers the barriers to starting a motorcycle rental business, making it more accessible for owners to profit from your bikes. Riders Share essentially simplifies and streamlines the process, allowing you to focus on sharing your passion for motorcycles with a wider audience without the extensive overheads and complexities of starting a business from scratch.

Are you curious about hearing first-hand accounts from Power Owners at Riders Share? We wanted to interview them directly to listen to what they had to say. Check out that blog here, “Is Starting a Motorcycle Rental Business a Good Idea? Hear it From Power Owners.”

Should I just sell my motorcycle?

Before you think about selling your motorcycle, why not try renting it out? It's an effective way to make some extra cash and is especially helpful if your current budget is a bit tight or if you're eyeing a different style of bike. If life’s too hectic right now or you're taking a break for health reasons, renting keeps your bike from just sitting around. Plus, you get to jump back on the saddle whenever you're ready, avoiding any seller's remorse. It’s more than just a financial fix; it's about keeping your love for riding alive and sharing that joy with fellow bikers.

If you’d like to learn more about why renting may be a better fit for you than selling your motorcycle, check out our blog, “Why Not Just Sell Your Motorcycle? Here's Why You Should Rent It.”

Can I actually make money listing my bike? 

Making money with your motorcycle on Riders Share can be a lucrative and flexible option for owners like you. Our Power Owners, who are the top percentage of earners, can rake in over $10,000 monthly by renting out their bikes. For the average owner, the income often ranges between $1,000 to $2,000 a month but is also dependent on how many bikes you have, how much you rent them for, your location, seasonality, and how much you put into it. 

This opportunity can help offset the costs of bike ownership or fund a new motorcycle purchase. Riders Share creates a platform where your motorcycle can generate income during times it would otherwise sit unused, making it a financially smart choice. Whether you're temporarily unable to ride, looking to switch to a different style, or simply want to share your passion for biking while earning, Riders Share provides a viable solution.

If you’re curious about other ways your motorcycle can make you money, check out our blog, “Make Money With Your Motorcycle.”

owner decides to rent motorcycle on Riders Share and exchanges keys with the rider

List your bike and see for yourself

Listing your bike on Riders Share can be a great way to make extra money and keep your beloved ride in use by renting it out to trusted vetted riders. However, we also understand that it might not be for everyone! We don’t require you to lock into a contract that forces you to keep your bike hostage on our platform- your bike is still yours. If you decide to try it out and further figure out it's not a good fit for you, that’s your call! But we’re here to help you work through any bumps in the road. Listing your ride is similar to starting a rental business yourself but with added support and resources. Try Riders Share today and experience all that our community has to offer. 

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