You don't want to do that.

Without carrying insurance that covers rental use, you would would not be
covered for liability.

Even if the renter carries liability insurance for non-owned aircraft, if
he/she crashes and someone sues YOU, your insurance carrier will deny the
claim if the rental use is not covered.

The cost of insurance will depend mostly on the type and value of the
aircraft. Plan to spend between 10% and 6% of the hull value of the
aircraft annually, plus another $1500 to $2500 for liability coverage. So,
let's say you have a $50,000 Cessna 172. IF (and that's a big IF) you can
get insurance for rental use, you'll pay around $4000 for hull damage and
probably $2000 for liability coverage.

Many insurance companies give better rates for fleets so you'll probably get
a better rate by putting the aircraft on lease with an FBO.

J. Howard
Aviation Insurance Underwriter

"Murphy" wrote in message
...
I am thinking of buying an airplane....I want to rent it when it is not
in
use to recoup some of the cost of buying the plane. How hard is it to do
this? What are the insurance costs? How often do I need to get it
checked
out by an aviation mechanic? How much is the maintenece? Do I have to go
through an FBO? Or can I just place a classified ad....eg. "plane for
rent...$50 an hour".

As for insurance, you could insure it just for yourself to fly, and then
require your renters to carry renter/borrower insurance for the full hull
value.