If you are here, you are probably an Uber driver already and want to learn how to make more money with Uber. Uber rentals for drivers grant you an opportunity to take on one of the best side or full-time gigs available if you have a pristine driving record. Uber payments are flexible, so it does not pay you an hourly wage. You can increase revenue from Uber, so you are earning four to five figures a month. Here’s how to make more money.
How to Boost Your Uber Earnings
Here are a few tricks the best rideshare rental drivers use to maximise the amount of money they make within the shortest time possible.
Know the Local Market
Before making Uber a successful cash revenue, you must understand your local market. Know where and where to drive for the most consistent and best fares. Demand and fares are higher late Friday and Saturday nights in areas people are bar hopping. The responsible drinkers will take an Uber to their first bar early in the evening. But demand is more likely to be spread out.
As closing time gets closer, there is a rush as party-goers prepare to go home. Look into how the Uber app reacts to events within your town.
In Brisbane, for example, there is a price surge around the Bridge to Brisbane running event where tens of thousands of runners and spectators take to the streets. Many of these people would rather Uber to and from the event than try to find a parking spot.
Drive the Right Car
You can choose between a smaller vehicle that can’t hold enough people and a family van to qualify for UberXL. An UberXL ride from an Uber rental Brisbane company lets you carry more people, and the fares are higher. Plus, taking UberX and UberXL fares keeps you busy when you are restricted in the UberX category.
You can still drive with Uber when you have a compact car, but won’t make as much money as the driver in a larger SUV or van. If you want to drive on a full-time basis, consider renting a vehicle that is worth the Uber Black status. These are business vehicles for premium fares, but need to be newer than vehicles Uber considers for X or XL fares.
High demand and a low supply trigger the Uber system to increase rates to account for surge pricing. This usually occurs after local events, closing time in bar areas, and during the holidays. The rider approves the fee as they request the ride and knows they are paying extra for the convenience.
Uber pushes out text alerts to drivers in an area when a surge fare is warranted. They are trying to make sure they meet the demand for rides, so they have more satisfied customers and drivers—so your investment in Uber rentals for drivers pays off quickly. A surge means higher rates for you and some drivers try to time their driving around such increases.
However, surge price chasing can have the opposite effect.
When a bunch of drivers respond to the text to take advantage of surge pricing, the supply increases rapidly. This means prices will fall back to their normal rates. Instead, stick to an area you know is likely to have a high demand.
Stay in One Place When Waiting for a Request
It is tempting to drive around the city in between rides and hope to increase the chances of getting pinged for a ride. According to Uber rideshare rental experts, that is a bad idea. You are wasting fuel and wearing out the car. And, it is unlikely that the one or two pickups are worth the effort.
Instead, pick a safe place to park and wait. Choose an area that is close to high traffic.
Start Making More Money Today
Whether you are trying to earn extra money to fund a business, build a nest egg, or pay off debt, each cent matters! If your car is not up to the Uber standards, consider Uber rentals for drivers and start making money without owning the car!
Check out our blog for more tips on making money!