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Our local caravan site is now a Static Only site and anyone caught subletting their van will be put off the site immediately.

I think that before you go down the road of sub letting, you have to obtain certain licences and certificates to cover the electrics and other equipment used in the unit as well as insurance etc. Also I am sure the site owner would require a cut of any takings, if he allowed it at all, which I very much doubt. 

I doubt if a Trailer Tent/Folding Camper would survive more than one season of use by those who are not familier with these types of units.

You are so much at the mercy of your users too and with one tt only you can't really absorb the cost of having really good insurance or more tts spare for existing bookings should one get damaged.  Even with the best will in the world regular tt owners experience accident damage, spilt cooking oil seems to be one, small rips and tears etc.  If renting out you will have limited chance to vet clients and have to accept that not all people will treat the tt in the same way, some accidents are bound to happen because of lack of experience and some due to careless treatment.  Given that it is a rental tt and people are looking for fairly cheap holidays you are unlikely to be successful at requesting a large deposit either.

Big companies with a number of units can cope with these costs far better and probably get away with charging more too.

I think it is great idea! This summer I am planning a backpacking trip around Scotland including Shetland Islands and I need a good tent. However, can't afford to buy a new one, so I would rent it, but there are not many places in Glasgow to do it.   

It sounds like a good idea :)

Have you phoned a couple of local sites to see what they think?  If they are willing then you could advertise your services on site.  If there were some way of advertising on their website that would be even better?  But if i were a site owner i'd be thinking of wanting some of the revenue or even doing something similar myself but then its also a lot of effort for them so they might be willing to let you.