by Andrew Mok
posted on April 15, 2024
I’m incredibly excited to announce the launch of passive income hosting, a program that lets car owners in the US earn passive income on Turo.
Why passive income hosting?
Today, almost anyone can easily list a car on Turo, become a host, and quickly start earning money. But over the years, we’ve learned that hosting and scaling a business on Turo requires time and effort that not everyone can commit. So that’s where passive income hosting comes in.
How passive income hosting works
This program turns cars into money-making investments by connecting people who own cars with experienced hosts who can share others’ cars on Turo full time, handling all the hands-on work of hosting and sharing 70% of what they earn with owners. On average, car owners who share cars through the program could earn ~$634/month for each car they share.*
By matching car owners who want to earn passive income with top-performing hosts, all of whom are experienced in managing other people’s vehicles, this program will make it easier for anyone who wants to earn money on Turo while increasing the number of cars available to guests across the marketplace. Joining the program is also an excellent growth opportunity for existing hosts; passive income hosting lets hosts manage more vehicles without investing cash or taking on loans.
How to apply
Passive income hosting will be available in metro areas across the US, with access expected to expand over the coming months.
Applying as a car owner takes about five minutes. If you’re approved to join, Turo will match you with a vetted host in your area who’s interested in managing your particular car. After signing a standardized agreement, they’ll arrange to pick up your car, list it on Turo, manage trips, and send you 70% of revenue each month. Hosts keep the remaining 30%, but Turo doesn’t take any additional cut from the revenue earned through this program.
The passive income hosting team has already connected dozens of car owners with nearby vehicle managers. Last year, Turo connected Kelly, a Tesla Model X owner, with Brendon, an All-Star Host in Los Angeles. In January 2024, Kelly earned $934 and says it’s been “very hands-off and passive” so far. Brendon says he’s happy he can help Kelly and her husband “find success on Turo in a busy market” in a way that’s “stress-free for them.”
To join as a car owner, fill out this form with your vehicle information and location, and Turo will let you know if you’re eligible to join right now or keep your info on file for when you could join in the future.
By making car sharing more accessible to car owners all around the world, passive income hosting is a huge next step toward achieving our mission of putting the world’s 1.5 billion cars to better use.
*Average monthly passive income estimates are calculated by applying the standard program revenue share split of 70% to the average annual earnings figure for the year ending June 30, 2023, which was $10,868 per car, per year ($906 per car, per month). 70% of $906 = $634 per car, per month, on average.
Andrew Mok
As CMO of Turo, Andrew leads a world-class team of sales and marketing professionals on their mission to grow the Turo community, make Turo an iconic global brand, and put the world’s 1.5B cars to better use.
