WICHITA — There are fractional ownerships for jets and time-shares for condos, so Nasir and Chanda Jesri wondered if something similar might work for recreational vehicles.
They’ve started My RV Time Share to see.
“It’s the best of both worlds,” says Nasir Jesri, who is a co-owner of Wichita’s Absolute Natural Stones.
The Jesris have rented RVs in the past.
“The kids love it,” Nasir Jesri says.
His pocketbook doesn’t quite as much.
“RV rentals can get pretty costly,” Jesri says of everything associated with the rentals.
He says buying isn’t an option for families with limited vacation time.
“The thing is, we can’t afford to really pay for an RV and use it a few weeks a year,” Jesri says.
That’s why the Jesris researched a fractional or time-share model for RVs. They didn’t find much nationally, so they decided to start their own operation with one 30-foot, 2014 model that can seat nine.
“Our model is totally different,” Jesri says.
For each RV that he’ll sell, Jesri says he’ll take a $9,900 one-time payment for a 10 percent ownership in an LLC that owns the RV. The owners will have access to the RV for four weeks a year.
All maintenance will be included in the first year. After that, an owner pays 10 percent of the RV’s expenses, which would fluctuate.
“One major issue with something like this is liability,” Jesri says.
He says that’s where the LLC comes in.
“You’re a limited partner in that limited liability company,” Jesri says. “You don’t own it. … You’re protected.”
For now, there will be no pets allowed, and no family members can borrow the RV during a person’s shared four weeks. However, once there are 10 members, Jesri says that “they can change the bylaws to whatever suits them.”
“It is for working people who are not full-time RVers,” he says.
Jesri says there are 2 million “full-time RVers” nationally, some of whom drive “mansions on wheels” and some who drive more modest RVs. He says his has nice decor and is efficient but is not extravagant.
“Kids are going to enjoy it the most,” he says.
Jesri says his fleet of one should grow quickly.
“We’re hoping there will be a lot more in less than a year.”