About this video

• Video Title: I've Been a Turo Host for 8 Years...Here is Some Of What I Learned in 27 Minutes
• Channel: Aubrey Janik
• Speakers: Aubrey Janik
• Duration: 00:27:43

Overview

This video provides comprehensive advice for individuals looking to start or grow in the car-sharing and rental car business, drawing from eight years of experience. The speaker, Aubrey Janik, covers essential topics such as getting started, platform-specific strategies for Turo, the nuances of direct rentals, scaling a fleet, and co-hosting.

Key takeaways

• Getting Started: The speaker advises against "analysis paralysis" and encourages new hosts to simply start by buying a car, listing it on Turo, and learning as they go. For the initial vehicles, it's suggested to use personal names and insurance to simplify the process, with the option to transition to a business name and commercial policy later.
• Buying Cars: Prioritize heavily depreciated vehicles that are older (around 10 years) with higher mileage (around 100,000 miles) as they offer the lowest risk for new hosts. Also, purchase cars at a discount to gain an advantage over depreciation.
• Turo Specifics: Emphasizes reading Turo's Terms of Service. Key operational tips include managing emails effectively (e.g., using Spark or dedicated folders), taking a high volume of quality photos (minimum 75, up to 150+ for nicer cars) to support claims, and actively following up with guests to encourage reviews using a multi-channel approach (text, Turo messages, manual calls).
• Growth and Scaling: Discusses crucial parameters for buying cars for a fleet: reliability, Return on Investment (ROI), and demand. Reliability is highlighted as the most critical factor to avoid issues like low utilization and high repair costs. Co-hosting is presented as a growth strategy where operators manage other people's vehicles, requiring a strong pitch, clear communication, organized finances, and a robust market.
• Direct Rentals vs. Turo: Direct rentals are presented as a way to diversify and create a safety net but are significantly more complex than Turo. Direct rentals involve more regulations, licensing, tax obligations, background checks, and liability. The speaker strongly recommends starting with Turo and transitioning to direct rentals only after gaining sufficient experience.

The speaker strongly advises new Turo hosts to prioritize buying heavily depreciated vehicles for their rental fleet. This typically means opting for cars that are around 10 years old with approximately 100,000 miles or more. This strategy is recommended because these vehicles have already undergone the most significant portion of their value loss, minimizing the financial risk for new hosts who may be unsure about the long-term viability of Turo.

Furthermore, it is crucial to purchase these cars at a discount below their market value. This practice helps hosts get ahead of any further depreciation and provides a buffer, making it less impactful if the car experiences wear and tear or if the host decides to exit the Turo business after a short period. This approach is presented as the safest and most advantageous path for those just starting out in car sharing.