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The bike wasn’t stolen, I rented it to a European tourist via Twisted Road, one of several web-based peer-to-peer rental platforms. I’ve been sending my Kawasaki Versys 650 LT off with people I barely know for three years now, and it’s typically a trifecta of success: When the bike’s on the road it’s earning me money, it’s out of the garage so there’s more room for projects, and I get the satisfaction of facilitating someone’s bucket-list motorcycle adventure.
Here’s what I’ve learned while running a rental program, and a few things you should consider if you’re thinking about leveraging your motorcycle to earn some extra income.
Know your market, and find a niche
If you have an unappealing motorcycle or live in the sticks, your listing may not get a lot of attention. The Versys 650 LT has broad appeal and I’m located just a few miles from an international airport in a region that’s a world famous motorcycling mecca, so there’s no shortage of potential customers.
My niche is tourists, often from abroad, looking to ride the Pacific Coast Highway and beyond on extended trips. While some owners impose mileage limits, I don’t (the odometer reading doesn’t matter to me), and the bike is equipped to encourage lengthy rentals. It’s available with a top box and/or side cases, and I’ve added a Quad Lock phone mount, USB power, a touring windscreen, and heated grips as they’ve been requested or suggested.
The bike, listing, pricing, and services (route and lodging suggestions, loaner helmets, camping equipment, etc.) are all tailored to the renters I want to attract. If you’re considering renting out your bike, put some thought into who your potential customers are and build your listing to appeal to them.
Before you do that, though, consider your potential earnings. Across the country, most bikes listed on Twisted Road go for about $50 to $80 per day, but some exotics and many late-model Harleys command over $100 a day. Whatever your rate, expect Twisted Road to take 30% off the top as its cut.
(DIY) maintenance matters
Unless a renter is texting me pictures from Bixby Bridge or a Sierra pass, I don’t want to hear from them until their return date. To help ensure that, I keep my bike in excellent mechanical condition and equip the rider with a tool kit, plug kit, and battery jumper so they can handle the most common roadside issues themselves.
Speaking of doing things yourself, we all know that DIYing maintenance is a great way to reduce ownership expenses, and that rings true for your rental business, too. If I was paying a shop to swap tires or dive under the tank to check the valve clearances, I don’t think my program (at least in its current long-duration, unlimited-mileage format) would yield the margins I’m after.
Bike choice is a factor here, too. This Versys (it’s my second) wasn’t just cheap to buy, it’s also affordable to insure and maintain since it’s easy on tires, the drivetrain, and brakes. Even so, experience has taught me to use quality parts, so I stick with OEM air filters, DID chains (I got 31,000 miles out of the last one, while the off-brand chain I tried was junk after 7,000 miles), and Dunlop Roadsmart 3 tires (they typically last 9,000 to 12,000 miles a set).
It’s only partially passive income
When so many of us trade hours for dollars, earning money while you sleep is appealing. That’s the promise of passive income, and while renting the Versys doesn’t require a ton of direct involvement, it takes more time than I’d initially anticipated.
I typically spend between 15 and 30 minutes prepping the bike to go out (often it’s just a quick wipe down and re-checking the fluids and tire pressures, plus lubing the chain) and then another 15 to 60 minutes doing the handoff. Twisted Road has a photo-documentation process that takes a few minutes, and small talk frequently evolves into a larger conversation. My wife knows that when I “just have to step out to meet this renter” that I’ll likely be away for a half hour or more.
It’s the same on the tail end as I get a download on their trip and check the bike in. Then, there’s the aforementioned maintenance, and sometimes, repair.
If you have a busy and/or inflexible schedule, fitting all this in may be a challenge. One way I’ve modified my program to suit my lifestyle is to have a two-day rental minimum. Anything less isn’t worth my time, so consider how much bandwidth you have to manage your rental prior to signing up.
There are fewer bad apples than you think
There’s no shortage of folks who think I’m nuts for letting randos ride my bike. The assumption seems to be that people are reckless and irresponsible, but I’ve yet to meet someone I wouldn't rent to again. Despite what you see on the news, most people are sane and decent.
It probably helps that I’m offering a bike that tends to attract mature, level-headed riders. If I was renting Dave the Gixxer to day trippers headed to the Angeles Crest, I might be tapped into a different vein of humanity.
It also helps that Twisted Road has a thorough vetting process for potential renters and provides owners with solid insurance. Bikes are covered up to $40,000 and owners are protected by $1 million in liability coverage.
That being said, if the thought of your bike getting scratched or dented gives you the chills, then keep the key in your pocket. The Versys has been dropped numerous times and crashed twice. All of the scratches and bent levers my bike has incurred have been, by my assessment, due to simple mistakes that I was quick to forgive.
However, I’ve learned to inform renters that I’ll assess a $100 fee for cosmetic damage so that when repair or replacement is eventually required I’ve amortized the cost. And in case you’re wondering, I’ve never had to call anyone out — everyone has volunteered their transgressions via text at the time of the incident or immediately upon returning the bike.
It’s not just about the income
As I mentioned earlier in the article, facilitating amazing motorcycling experiences brings me a great deal of satisfaction. It’s a major motivation for renting out my bike.
When I first came to California as a road-tripping 20-year-old, I was enthralled with the coast, mountains, the bucolic backroads, and of course the weather. Nearly two decades later, I’m still blown away by what the Golden State has to offer motorcyclists. So when someone shows up from the flatlands of Latvia or Ohio, or the winter cold of Berlin or Boston, I’m genuinely excited for the excitement and wonder they’re about to enjoy.
Sending your motorcycle off with a practical stranger might not be for everyone, but it’s been a good gig for me, and I intend to keep doing it as long as it makes sense.
