by Turo
posted on August 14, 2024
This summer, hosts in the US can enjoy new earnings and savings opportunities, while the new and improved pricing algorithm will help make hosts more competitive in their market. There are also a number of changes to help raise the bar on vehicle safety and guests’ experiences to help boost demand, and improvements to streamline host workflows.
The coverage you need between bookings
To help you save money and improve your margins, we’ve recently introduced a new, affordable, car insurance option, in partnership with Tint. Custom-designed for Turo hosts with 3+ vehicles listed, this off-trip car insurance covers hosts’ vehicles when they’re not on a trip and are being used for business purposes.
Premiums are affordable and rest assured knowing you can reliably reach a representative with any questions.
After you’ve requested a quote, look out for an email from support@tint.ai.
Complete the dynamic pricing checklist
Dynamic pricing is launching on September 3, making it easier for you to price competitively and maximize your earnings. This new and improved pricing algorithm will replace Automatic Pricing.
To help optimize your earnings, dynamic pricing will continually adjust your prices based on fresh market data and other factors. Dynamic pricing also considers hosts’ variable costs that change based on how much vehicles are used. These variable costs are based on your vehicle and your market and include cleaning, maintenance, depreciation, and trip facilitation.
Also on September 3, the vehicle calendar will be removed and the calendar in the “Trips” tab will be your go-to spot to manage your entire portfolio, including pricing and availability. We’re moving to one calendar so Turo can put more energy into enhancing this single calendar to help you more efficiently manage your vehicles. Rest assured, you’ll be able to do everything you could do in the vehicle calendar, but more efficiently.
If you haven’t already, complete the checklist to help you get ready for these changes. The checklist includes pro tips for using the calendar, as well as a dynamic pricing tutorial, which you’ll need to complete to unlock custom pricing after September 3.
Unlocking more earning opportunities for hosts
Starting August 19, Turo will unlock two new earning opportunities for hosts in most US markets. Guests will be able to book cars to participate in the gig economy as delivery drivers, and hosts will be able to list box trucks which guests can use for moving.
Recently launched
STREAMLINING HOST WORKFLOWS
Save time with automatic trip changes
Now if a guest’s trip change request matches your availability and settings, it’ll be automatically approved, saving you time and energy.
NAVIGATING AIRPORT REGULATIONS
How to avoid airport violation fees
Please make sure you follow your local permitted airport’s delivery rules to avoid new airport violation fees, being banned from delivering to the airport, or potentially being removed from Turo.
IMPROVING THE GUEST EXPERIENCE
Stricter penalties for canceling on guests
Starting last month, hosts who cancel on guests too often will have their vehicles unlisted for seven days and will need to attend a coaching webinar to get relisted. What you need to know:
• This new cancellation policy will apply to hosts with less than a 95% commitment rate and more than 20 trips.
• As long as your commitment rate is under 95%, each time you cancel on a guest, all of your vehicles will be unlisted for another seven days.
• If you cancel on a guest while your commitment rate is under 90%, you will be permanently removed from Turo.
New safety requirements after tire issues
Starting July 1, if a host’s vehicle is restricted due to a tire-related issue, they need to provide proof that:
• The damaged tire was replaced or appropriately repaired.
• The vehicle’s other tires all have a tread depth of at least 4/32” and are no more than 6 years old.
New guests no longer need profile photos
To streamline guests’ sign-up process and make it easier for them to book cars on Turo, new guests don’t have to upload a profile photo anymore. Rest assured, Turo still screens each guest and you still need to review your guest’s license before the trip starts.
Down the road
STREAMLINING HOST WORKFLOWS
Check-in policy change for hosts with Turo Go
Starting August 19, there will be two changes to hosts’ check-in requirements for all Turo Go trips to improve the process and make them more consistent with trips without Turo Go. You’ll need to:
• Confirm your guest’s driver’s license through the Turo app in order for the trip to start
• Take pre-trip photos of your vehicle, as well as post-trip photos
EV recharging policy update
This fall, the EV recharging policy will be updated. Hosts can get reimbursed from their guests based on the difference between the battery level at the start and end of the trip, plus an added convenience fee. There will also be a low battery fee.
Stripe will be used to manage hosts’ tax info
Starting this fall, Turo will begin using Stripe to manage hosts’ tax information in the US, Canada, and Australia. If you’re a US-based host who has previously uploaded your W9 to Turo, we’ll securely upload it to Stripe. If you haven’t uploaded your W9 to Turo before, you’ll be asked to share it through Stripe. We’ll be in touch with more info.
HELPING RAISE HOST EARNINGS
Help boost earnings with new settings for longer trips
In the coming weeks, you can attract longer trips while helping protect your cars from excessive wear with new monthly distance limits and discounts. Longer trips can be more profitable for hosts since there’s more hands-off time and typically less wear on your vehicles.
Better protection from guest cancellations
In the coming months, the early bird discount will be removed and instead, you’ll be able to offer a non-refundable discounted rate to guests for trips that are booked further in advance. If they cancel their trip, you’ll still get the earnings.
IMPROVING THE GUEST EXPERIENCE
Upcoming changes to the All-Star Host program
This fall, we’re reimagining the All-Star Host program to raise the bar on five-star trips, vehicle maintenance and cleanliness, and reduce cancellations. We’re also thinking of ways to help boost the visibility of hosts’ All-Star Host status to guests. Stay tuned for more updates in the coming weeks.
Updates to airport delivery rules
As mentioned above, it’s important to follow any airport delivery rules to avoid fees or being banned from delivering to the airport. Turo has new or updated delivery agreements with the following airports:
Delivery is now restricted to the following airports:
Learn the delivery rules for your local airports.
Connect with the host community — share feedback and ideas, and get advice from other hosts and the Turo Support team at Turo Talk, the official Facebook group for hosts!
