STR-Anyone also renting golf carts or EVs?

STR-Anyone also renting golf carts or EVs?

Investor · Carolina Beach, NC · Member since 2018 · 188 posts · 377 votes

My wife and I own 14 short term rentals in Carolina Beach, NC, and we also co-own a property management company that manages another 54 listings.  We’ve tried to vertically integrate and we just signed on our own linen facility, we own our cleaning company, etc.  One thing that we really noticed is that four or five times a week we have one of our guests reach out to us about where they might be able to rent a golf cart. There is one main golf cart rental company on our island, it’s a very golf cart friendly community, they have 150 golf carts and are at 100% occupancy throughout the season.  We are completely booked with fantastic occupancy for the lion’s share of the year in our listings, and although I don’t want to compete directly in the golf cart space, I do think there’s some opportunity here for us with a little bit of a unique offering.  This week I purchased three Moke vehicles, they are the small diesel cars popular around the Bahamas and the Caribbean that some of you may remember from one of the old 007 movies.  There’s a new company in the US that produces them as electric vehicles, they have back up cameras, are street legal, Bluetooth radio, etc. A lot of our short term rental listings are on the high end, and so our plan is to direct market some of these vehicles to our guests.  basically after someone books, an hour or so later they can get a text message with a link for them to be able to direct book an EV for their stay, we can offer pick up and delivery from their listing sites, its street legal, 45 mile range, top speed of 35 miles an hour.  Looking at the comps of some other people that are doing it in Florida and California, adjusted for location, pricing in our market would be around $175 for the first day, and then pricing would go down from there depending on how long they were renting it for.  First of all our company just needs to spend some money, so I’m happy to just buy some for me and our staff, but really we’re just going to be experimenting with them and see if it’s worth buying 10 or 15 more. Has anyone else experimented with doing electric vehicle or golf cart rentals? What kind of insurance was necessary, what are the pitfalls, is the juice worth the squeeze, etc.?  We can figure it out on our own, but I would much rather learn from someone else’s mistakes if possible. In any input would be appreciated.  Here’s one of the Mokes that we bought for reference

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Erik J CoursonPro Member
Member since 2018 · 9 posts · 2 votes
5y
Originally posted by @Lisa Graesser:

I have a golf cart at each of my rental homes in a golf cart community.  The cart is included with the rental cost. The cart stays in the garage so its included whether someone wants to use it or not. I manage remotely so giving the option to rent it separately is not an option. I know you are  more interested in having the "cart" available if wanting to rent it separately. So this situation is not the same. I do have insurance for each cart that covers liability for the guests use of the cart. I also have a waiver that the guests have to agree to when making the reservation that is included with my rental agreement. Our carts are for use on multi modal paths, not street legal. Having a cart included is not unusual in the community my rentals are located in. Those with the cart can charge a higher nightly rate, but I haven't put in the time to really study what those without the cart charge and compare their occupancy rate. I know guests do look for homes with the cart included if they want the use if the cart, so I would say my rentals would be occupied prior to those that do not offer them. Those that do not offer the carts with their rentals are mostly concerned with the liability issues.

 I manage remotely as well, but charge extra to rent my golf cart.  It's cheap, one rate for duration of stay which rivals the rate for one day at the local places.  Most guests rent it.  I collect the fee, deposit, and have them sign an agreement digitally, which also requires upload of DL.  Key is kept in separate lock box, code only shared once red tape is completed. 

my golf cart does not have to be registered and titled but is allowed on neighborhood streets, so it's not treated as a street legal motor vehicle.

See this reply in the discussion

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    5y

    I have seriously thought about adding an option to rent a golf cart.

    I get numerous questions about whether I rent my boat or where they can rent one.

    If I do the boat rental I would go through a 3rd party company that covers the insurance.

    Then I could.get a nicer, newer boat and have it paid for. 

    Anything above a golf cart I would worry about the liability, especially if they could be driven on the roads. I would need insurance to fully cover any accidents.

  • Investor · Carolina Beach, NC · Member since 2018 · 188 posts · 377 votes
    5y
    I agree John, but there are golf cart rentals in just about every Beach Community that is golf cart friendly, and typically those seem to be pretty high earning individuals. I am using the occupancy and data that I’ve got from one here and several other golf cart rental companies in Charleston, and the numbers are very compelling. It’s already being done so I’m not trying to reinvent the wheel, just find someone that has experience with that type of umbrella policy and liability insurance

    Originally posted by @John Underwood:

    I have seriously thought about adding an option to rent a golf cart.

    I get numerous questions about whether I rent my boat or where they can rent one.

    If I do the boat rental I would go through a 3rd party company that covers the insurance.

    Then I could.get a nicer, newer boat and have it paid for. 

    Anything above a golf cart I would worry about the liability, especially if they could be driven on the roads. I would need insurance to fully cover any accidents.

  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    5y
    Originally posted by @Clint Harris:
    I agree John, but there are golf cart rentals in just about every Beach Community that is golf cart friendly, and typically those seem to be pretty high earning individuals. I am using the occupancy and data that I’ve got from one here and several other golf cart rental companies in Charleston, and the numbers are very compelling. It’s already being done so I’m not trying to reinvent the wheel, just find someone that has experience with that type of umbrella policy and liability insurance

    Originally posted by @John Underwood:

    I have seriously thought about adding an option to rent a golf cart.

    I get numerous questions about whether I rent my boat or where they can rent one.

    If I do the boat rental I would go through a 3rd party company that covers the insurance.

    Then I could.get a nicer, newer boat and have it paid for. 

    Anything above a golf cart I would worry about the liability, especially if they could be driven on the roads. I would need insurance to fully cover any accidents.

    Do these companies have golf cart insurance for their golf cart rental business?

    Maybe rent one from them and ask a bunch of questions and maybe get a copy of their liability waiver form.

  • Investor · Carolina Beach, NC · Member since 2018 · 188 posts · 377 votes
    5y
    I have a call scheduled through a mutual friend, his college roommate owns a golf cart rental business in Isle of Palms, but I’m trying to gather as much information as I can. Yes, they have several different insurance policies.  Obviously there’s going to be in the economies of scale between how much the policies cost, whether they require gas to get their own policy, and the number of vehicles, etc.

    Originally posted by @John Underwood:
    Originally posted by @Clint Harris:
    I agree John, but there are golf cart rentals in just about every Beach Community that is golf cart friendly, and typically those seem to be pretty high earning individuals. I am using the occupancy and data that I’ve got from one here and several other golf cart rental companies in Charleston, and the numbers are very compelling. It’s already being done so I’m not trying to reinvent the wheel, just find someone that has experience with that type of umbrella policy and liability insurance

    Originally posted by @John Underwood:

    I have seriously thought about adding an option to rent a golf cart.

    I get numerous questions about whether I rent my boat or where they can rent one.

    If I do the boat rental I would go through a 3rd party company that covers the insurance.

    Then I could.get a nicer, newer boat and have it paid for. 

    Anything above a golf cart I would worry about the liability, especially if they could be driven on the roads. I would need insurance to fully cover any accidents.

    Do these companies have golf cart insurance for their golf cart rental business?

    Maybe rent one from them and ask a bunch of questions and maybe get a copy of their liability waiver form.

  • Rental Property Investor · The Villages, FL · Member since 2017 · 341 posts · 397 votes
    5y

    I have a golf cart at each of my rental homes in a golf cart community.  The cart is included with the rental cost. The cart stays in the garage so its included whether someone wants to use it or not. I manage remotely so giving the option to rent it separately is not an option. I know you are  more interested in having the "cart" available if wanting to rent it separately. So this situation is not the same. I do have insurance for each cart that covers liability for the guests use of the cart. I also have a waiver that the guests have to agree to when making the reservation that is included with my rental agreement. Our carts are for use on multi modal paths, not street legal. Having a cart included is not unusual in the community my rentals are located in. Those with the cart can charge a higher nightly rate, but I haven't put in the time to really study what those without the cart charge and compare their occupancy rate. I know guests do look for homes with the cart included if they want the use if the cart, so I would say my rentals would be occupied prior to those that do not offer them. Those that do not offer the carts with their rentals are mostly concerned with the liability issues.

  • Investor · Carolina Beach, NC · Member since 2018 · 188 posts · 377 votes
    5y
    thanks Lisa, I appreciate the input. How do you do the liability form with your rental agreement, do you do something that they can e-sign, or is this a rental agreement that they sign and email back to you?

    Originally posted by @Lisa Graesser:

    I have a golf cart at each of my rental homes in a golf cart community.  The cart is included with the rental cost. The cart stays in the garage so its included whether someone wants to use it or not. I manage remotely so giving the option to rent it separately is not an option. I know you are  more interested in having the "cart" available if wanting to rent it separately. So this situation is not the same. I do have insurance for each cart that covers liability for the guests use of the cart. I also have a waiver that the guests have to agree to when making the reservation that is included with my rental agreement. Our carts are for use on multi modal paths, not street legal. Having a cart included is not unusual in the community my rentals are located in. Those with the cart can charge a higher nightly rate, but I haven't put in the time to really study what those without the cart charge and compare their occupancy rate. I know guests do look for homes with the cart included if they want the use if the cart, so I would say my rentals would be occupied prior to those that do not offer them. Those that do not offer the carts with their rentals are mostly concerned with the liability issues.

  • Rental Property Investor · The Villages, FL · Member since 2017 · 341 posts · 397 votes
    5y

    @clint guests print the agreement and waiver and either scan it back to me or mail it to me.

  • Erik J CoursonPro Member
    Member since 2018 · 9 posts · 2 votes
    5y
    Originally posted by @Lisa Graesser:

    I have a golf cart at each of my rental homes in a golf cart community.  The cart is included with the rental cost. The cart stays in the garage so its included whether someone wants to use it or not. I manage remotely so giving the option to rent it separately is not an option. I know you are  more interested in having the "cart" available if wanting to rent it separately. So this situation is not the same. I do have insurance for each cart that covers liability for the guests use of the cart. I also have a waiver that the guests have to agree to when making the reservation that is included with my rental agreement. Our carts are for use on multi modal paths, not street legal. Having a cart included is not unusual in the community my rentals are located in. Those with the cart can charge a higher nightly rate, but I haven't put in the time to really study what those without the cart charge and compare their occupancy rate. I know guests do look for homes with the cart included if they want the use if the cart, so I would say my rentals would be occupied prior to those that do not offer them. Those that do not offer the carts with their rentals are mostly concerned with the liability issues.

     I manage remotely as well, but charge extra to rent my golf cart.  It's cheap, one rate for duration of stay which rivals the rate for one day at the local places.  Most guests rent it.  I collect the fee, deposit, and have them sign an agreement digitally, which also requires upload of DL.  Key is kept in separate lock box, code only shared once red tape is completed. 

    my golf cart does not have to be registered and titled but is allowed on neighborhood streets, so it's not treated as a street legal motor vehicle.

  • Rental Property Investor · The Villages, FL · Member since 2017 · 341 posts · 397 votes
    5y
    Originally posted by @Erik J Courson:
    Originally posted by @Lisa Graesser:

    I have a golf cart at each of my rental homes in a golf cart community.  The cart is included with the rental cost. The cart stays in the garage so its included whether someone wants to use it or not. I manage remotely so giving the option to rent it separately is not an option. I know you are  more interested in having the "cart" available if wanting to rent it separately. So this situation is not the same. I do have insurance for each cart that covers liability for the guests use of the cart. I also have a waiver that the guests have to agree to when making the reservation that is included with my rental agreement. Our carts are for use on multi modal paths, not street legal. Having a cart included is not unusual in the community my rentals are located in. Those with the cart can charge a higher nightly rate, but I haven't put in the time to really study what those without the cart charge and compare their occupancy rate. I know guests do look for homes with the cart included if they want the use if the cart, so I would say my rentals would be occupied prior to those that do not offer them. Those that do not offer the carts with their rentals are mostly concerned with the liability issues.

     I manage remotely as well, but charge extra to rent my golf cart.  It's cheap, one rate for duration of stay which rivals the rate for one day at the local places.  Most guests rent it.  I collect the fee, deposit, and have them sign an agreement digitally, which also requires upload of DL.  Key is kept in separate lock box, code only shared once red tape is completed. 

    my golf cart does not have to be registered and titled but is allowed on neighborhood streets, so it's not treated as a street legal motor vehicle.

  • Rental Property Investor · The Villages, FL · Member since 2017 · 341 posts · 397 votes
    5y
    Originally posted by @Lisa Graesser:
    Originally posted by @Erik J Courson:
    Originally posted by @Lisa Graesser:

    I have a golf cart at each of my rental homes in a golf cart community.  The cart is included with the rental cost. The cart stays in the garage so its included whether someone wants to use it or not. I manage remotely so giving the option to rent it separately is not an option. I know you are  more interested in having the "cart" available if wanting to rent it separately. So this situation is not the same. I do have insurance for each cart that covers liability for the guests use of the cart. I also have a waiver that the guests have to agree to when making the reservation that is included with my rental agreement. Our carts are for use on multi modal paths, not street legal. Having a cart included is not unusual in the community my rentals are located in. Those with the cart can charge a higher nightly rate, but I haven't put in the time to really study what those without the cart charge and compare their occupancy rate. I know guests do look for homes with the cart included if they want the use if the cart, so I would say my rentals would be occupied prior to those that do not offer them. Those that do not offer the carts with their rentals are mostly concerned with the liability issues.

     I manage remotely as well, but charge extra to rent my golf cart.  It's cheap, one rate for duration of stay which rivals the rate for one day at the local places.  Most guests rent it.  I collect the fee, deposit, and have them sign an agreement digitally, which also requires upload of DL.  Key is kept in separate lock box, code only shared once red tape is completed. 

    my golf cart does not have to be registered and titled but is allowed on neighborhood streets, so it's not treated as a street legal motor vehicle.

  • Rental Property Investor · The Villages, FL · Member since 2017 · 341 posts · 397 votes
    5y

    Sorry @Erik I am having difficulty trying to figure out how to respond to your message on my phone. Lol...but anyways. That is a great idea and I know I will  get push back from seasoned guest as they have not had to do it that way in the past....but a new day is beginning. ..I will try this out after we have the opportunity to be there and add the lock boxes. Thanks for your insight!

  • Investor · Gatlinburg, TN · Member since 2019 · 6 posts · 0 votes
    3y
    Quote from @Lisa Graesser:

    I have a golf cart at each of my rental homes in a golf cart community.  The cart is included with the rental cost. The cart stays in the garage so its included whether someone wants to use it or not. I manage remotely so giving the option to rent it separately is not an option. I know you are  more interested in having the "cart" available if wanting to rent it separately. So this situation is not the same. I do have insurance for each cart that covers liability for the guests use of the cart. I also have a waiver that the guests have to agree to when making the reservation that is included with my rental agreement. Our carts are for use on multi modal paths, not street legal. Having a cart included is not unusual in the community my rentals are located in. Those with the cart can charge a higher nightly rate, but I haven't put in the time to really study what those without the cart charge and compare their occupancy rate. I know guests do look for homes with the cart included if they want the use if the cart, so I would say my rentals would be occupied prior to those that do not offer them. Those that do not offer the carts with their rentals are mostly concerned with the liability issues.


    How much extra income can you earn with golf cart? It is quite a big investment ($11K at least for a  seater electric) so I need to know if it is worth it. Golf carts are very popular in my area (Destin).

  • Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    3y

    I loaned a few AR's and some .308's for tenants to shoot on my land.  They've been renting by the week from me for the last 7 months.  Metal gong targets.  I let them take the gong targets home with them since I gave them some green tip ammo for the 5.56

  • Member since 2024 · 28 posts · 11 votes
    2y

    I’ve been looking at this option for years since we rent in a community where everyone wants a golf cart. The current fee is 850 a week. My PM has recently signed with a vendor that charges 350 a week. This cost is included with the rental. I am hoping that this offering will create an additional incentive to rent our house over those that do not provide this option. The risks associated with liability and damage rest with the vendor.

  • Member since 2023 · 1 post · 0 votes
    1y

    Clint Harris, I'm curios how this is going for you as I plan to offer it at my IOP STR…what are you charging and how have you handled the liability piece?

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