How to Make Money on Airbnb Without Owning Property in 2024 – 6 Best Ways, Pros, Cons and Recommendations
Airbnb has revolutionized how people travel and experience new places. Did you know that you don’t need to own a property to tap into the lucrative potential of Airbnb? Let’s discuss how to make money on Airbnb without owning property!
This article delves into creative strategies and smart approaches that allow you to make money on Airbnb without your own accommodation. Whether you’re an aspiring host or an entrepreneurial spirit seeking alternative income streams, these innovative methods might be your ticket to financial success in short-term rentals.
6 best ways, pros, cons and recommendations to make money on Airbnb without owning property
What is Airbnb and how it works
Airbnb is an economic system of the collaborative economy that has achieved great success globally. Through this digital platform, people can share and exchange goods and services between individuals. In the case of Airbnb, it focuses on accommodation, allowing users to find accommodation anywhere in the world.
The operation of Airbnb is based on three main actors:
- First of all, there are the guests, who are the travelers looking for property.
- Then, the hosts who own the properties offer their home or lodging room.
- Finally, there is the Airbnb platform, where users can register as guests or hosts, view available accommodations, select search filters, get detailed information about places, request reservations, and make payments.
To become a host on Airbnb, it’s crucial to comply with current regulations, set up an account, prepare your home for guests, accept booking requests, communicate effectively with guests, and get good reviews. Airbnb is also an option for those owners who want to make their property profitable and generate additional income.
6 best ways to make money on Airbnb without owning property
If you are interested in working with Airbnb but you don’t have real estate, don’t worry! There are several ways to do it. Here are some options:
Different options to earn money on Airbnb with no accommodation
| Method | Description |
|---|---|
| Co-hosting | Partner with property owners to manage their listings, handle guest communication, check-ins, cleaning, etc. |
| Property management | Manage all aspects of Airbnb listings for property owners, including guest interactions, cleaning, and more. |
| Vacation rental management company | Work for companies specializing in managing short-term rentals, taking on roles such as property management. |
| Furniture rental and styling | Provide furniture rental and styling services to help property owners set up their spaces for Airbnb guests. |
| Cleaning and maintenance | Offer cleaning, maintenance, and repair services to ensure properties are well-maintained and guest-ready. |
| Guest experience services | Provide airport pickups, guided tours, or concierge assistance to enhance the guest experience. |
| Photography and listing optimization | Offer photography and copywriting services to optimize property listings and attract more potential guests. |
| Local guides and experiences | Create and offer guided tours or experiences for Airbnb guests to explore the local area uniquely. |
| Consulting and coaching | Share your expertise with new hosts through consulting, providing advice on various aspects of Airbnb hosting. |
And now, let’s look at some popular options for making money on Airbnb without owning property:
1. Property management on Airbnb
You can become a property manager for listings. This involves registering as a property manager on the Airbnb website, completing an application, and being approved by Airbnb. You will create listings, promote your services, negotiate rates with clients, manage the property, ensure cleanliness and upkeep, handle check-in and check-out, and resolve any issues during the rental period.
You will collect payments from the guests and send them to your client. Property management fees typically range from 10-20% of the price per night, plus either a cleaning fee or a fixed reservation fee.
2. House sitter or property caretaker
Another way to make money with Airbnb without owning your property is by becoming a house sitter. Housesitting involves staying in someone else’s home while they are away and taking care of any problems that may arise. This can include keeping the house, making sure it’s safe, picking up mail and packages, and taking care of pets if there are any.
3. Furnished rentals management
You can also earn money by managing and renting furnished properties on Airbnb. It’s similar to property management, but you’ll be responsible for listing the property, managing it, and handing over the keys to guests. It is crucial to have the financial resources to offer these services and have the necessary insurance coverage required by Airbnb.
Even the most excellent real estate requires pro photos. Otherwise, no one will click on such a listing. We recommend that you read why pro images are important to your potential guests and consider our proposal for a photo shoot for your property.
4. Direct contact with property owners
You can approach property owners interested in renting out their properties on Airbnb. This can be a great opportunity for investors, property owners, or builders with unused or vacant properties. By connecting these owners with potential guests, you can earn additional income.
5. Offer of cleaning services for Airbnb
If you don’t mind hard work, you may consider starting a business that provides cleaning services for Airbnb properties. With over 100,000 cities and millions of active listings worldwide, there is a high demand for cleaners who can quickly clean Airbnb properties. This may include cleaning the kitchen, bathrooms, living spaces, dishes, sheets, towels, restocking supplies, and arranging furniture.
6. Airbnb Experiences service
Another creative way is to become a host of Airbnb Experiences. This means sharing your unique skills and knowledge with guests by offering a variety of experiences, such as city tours, massages, or meals at local restaurants. This is a great opportunity for people with unique talents or hobbies who want to share them with others.
Please note that the information provided may not be exhaustive. Now that you know all these options, you can find a way to work with Airbnb without owning properties!
How to be a co-host on Airbnb
Being a co-host on Airbnb is a great way to earn extra income by sharing your experience and knowledge with other travelers. If you want to become a co-host, follow these easy steps:
- Verify your identity: Before you begin, you must verify your identity by providing an identification document. This is required if someone asks you for help offering or managing an experience.
- Receive an invite: The primary host will need to send you an invite to join their team as a co-host. This invitation will allow you to collaborate in the management and offering of the experience.
- Join or stop co-hosting: If you decide to become a co-host, accept the invitation to join the team. However, if at any point you no longer wish to co-host, you can indicate your preference on the experience page. When you are no longer a co-host, you will no longer be able to offer or manage the experience, but you will still have access to your Airbnb account.
- For more detailed information, refer to the article on Airbnb co-hosting.
Being an Airbnb co-host has a dozen of benefits. The main five are indicated below in the picture:
5 benefits of having an Airbnb co-host
The information provided may be subject to change. Being a co-host at Airbnb is an opportunity to share your skills and earn extra money. Feel free to join and enjoy the benefits of being a co-host at Airbnb!
Airbnb Experiences: how to make it right
If you are interested in becoming an Airbnb host and offering experiences, there are certain standards and requirements that you must meet. Here is the relevant information extracted from the data:
- Hosts must comply with Airbnb’s Terms of Service and Community Rules.
- Experience hosts must comply with the Additional Terms for Experience Hosts, including co-hosts and attendees.
- The experiences must meet three pillars: knowledge, total immersion, and hospitality.
- Experiences cannot include property. For accommodation options, Airbnb Adventures are available.
- Services that do not offer knowledge, full immersion, or hospitality are unsuitable for Airbnb experiences.
- Certain outdoor activities requiring technical skills, such as extreme heights, caves, or water activities, are prohibited.
- Direct political actions, campaigns, or fundraising initiatives are prohibited, but informational and educational political activities are permitted.
- Verifying licenses, certifications, or insurance for activities involving technical skills may be necessary.
- The itinerary of the experience must be clear, complete, and precise, including details such as activities, meeting points, inclusions, items that participants must bring, and date and time.
- Itineraries with open plans in which participants choose activities or places are not allowed.
- Hosts must market their experiences individually, not as a business, and provide a clear personal profile.
- Photos must meet Airbnb quality standards.
Note that the information extracted is a summary and may not include all details. We strongly recommend you refer to the official Airbnb website or, even better, talk to Airbnb Superhost directly and get all the necessary information.
Benefits and challenges of working with Airbnb
without owning properties
The world of Airbnb has expanded beyond traditional property ownership, offering innovative avenues for enterprising individuals to participate in the sharing economy. Let’s delve into the possibilities and hurdles of this alternative approach.
Advantages of working with Airbnb without your own property
This kind of business can bring several attractive benefits to you.
- First, you can set your work hours to handle your responsibilities more conveniently.
- Plus, you don’t have to be a landlord to become a property manager for short-term rentals. This means you can earn up to $100,000 a year or more by managing properties on Airbnb without investing in your property.
A large amount of startup capital is not required to get started in Airbnb rental arbitrage. You also keep 100% of the revenue generated in rental arbitrage. Additionally, there is an opportunity to establish yourself as an authority figure in the industry as an Airbnb consultant. The initial expenses to become a consultant are negligible compared to other business options.
Disadvantages of working on Airbnb without a home of your own
On the other hand, there are also challenges associated with working with Airbnb as a non-owner. To become a property manager, you may need to continue your education, which may incur additional costs. Also, managing multiple rentals from different hosts can be challenging and requires practical management skills.
Finding a landlord willing to rent your home on Airbnb can be difficult. Some cities also have municipal rules and regulations prohibiting or restricting subleasing, making finding space for rent arbitration difficult. Previous Airbnb hosting experience and the motivation to succeed as a consultant are also key.
Income potential by working on Airbnb
without accommodation
Calculating the exact income potential for working on Airbnb without owning property can be challenging due to location, property type, demand, seasonality, and your specific business arrangements. However, we can provide a rough estimation based on average figures. Remember that these figures are for illustrative purposes only and can vary widely.
Potential income for various ways to make money on Airbnb
| Method | Description | Approx. monthly income |
|---|---|---|
| Co-hosting | Managing a property for a percentage of income | $500 – $1,500 |
| Property management | Full property management services | $800 – $2,000 |
| Vacation rental management company | Working for a management company | $600 – $1,500 |
| Furniture rental and styling | Providing furnishing and styling services | Varies based on services provided |
| Cleaning and maintenance | Cleaning and maintaining properties | $300 – $800 |
| Guest experience services | Offering guided tours or experiences | Varies based on services provided |
| Local guides and experiences | Providing local tours and experiences | Varies based on services provided |
| Photography and listing optimization | Listing optimization and photography services | $200 – $500 |
| Consulting and coaching | Offering consulting services to new hosts | $300 – $800 |
| Property management | Managing unique properties (e.g., cabins) | Varies widely based on property |
Market fluctuations, property-specific considerations, competition, and the quality of your services can influence real-world income. To get a more accurate estimate, research the local market, gather data on similar listings, and consider seeking advice from professionals in the field.
Regulations and legal considerations for doing business
with Airbnb without own real estate
You must know the regulations and legal considerations you must consider. Here are some relevant aspects that you should consider:
- Business licenses: Before starting your business, you may need a license. We recommend contacting your local authorities for information on the business licensing process.
- Regulations on urbanization and housing: Depending on a country, some laws and regulations establish minimum construction, design, and maintenance requirements for real estate. You must know these rules to ensure your accommodation meets the minimum habitability criteria. Find out the rules applicable to residential and non-residential use of your accommodation.
- Zoning rules: Some cities and countries may have zoning rules that determine the permitted property uses. You must understand these regulations to ensure your accommodation meets current planning requirements.
If you are considering investing in real estate to rent out on Airbnb, we strongly advise you to familiarize yourself with all the risks and opportunities you will receive. If you have additional questions, you can consult with our Airbnb experts.
Conclusion
Airbnb offers diverse opportunities for individuals to generate income without requiring property ownership. Creative business models have emerged that cater to both property owners seeking assistance and aspiring entrepreneurs looking to tap into the short-term rental market. From co-hosting and property management to specialized services like cleaning, photography, and local experiences, the potential to earn income is abundant.
You must approach these ventures to understand the legal and regulatory landscape to make money on Airbnb without owning property. Navigating local laws, taxation, insurance, and privacy considerations is necessary. Ethical practices and guest experiences drive positive reviews and foster a strong reputation in the industry.
Frequently asked questions on how to make money
on Airbnb without owning property
1. Can you Airbnb without owning?
You can participate in the Airbnb platform and earn income without owning property. There are several ways:
- Co-hosting involves partnering with property owners who have listings on Airbnb but may lack the time, expertise, or resources to manage them effectively. As a co-host, you can assist with guest communication, check-ins, cleaning, and maintenance in exchange for a percentage of the rental income.
- Property management services for Airbnb involve overseeing the day-to-day operations of listings, including guest interactions, cleaning, maintenance, and more. Property owners can hire you to manage their listings, and you can charge a fee or a percentage of the rental income for your services.
- You can work for vacation rental management companies that specialize in managing short-term rentals on platforms like Airbnb. These companies often have multiple properties under their management and hire individuals to assist with various tasks.
- You can offer various services to Airbnb hosts, such as cleaning, photography, listing optimization, interior design, and more. These services can help hosts improve the quality of their listings and enhance the guest experience.
- If you have local knowledge and expertise, you can offer guided tours or experiences to Airbnb guests, allowing them to explore the area uniquely. This can be a great way to share your passion and earn income.
- If you’re experienced in Airbnb hosting and have valuable insights, you can provide consulting or coaching services to new or struggling hosts. You can share tips on optimizing listings, improving guest experiences, and navigating the platform effectively.
- Partner with local businesses to offer exclusive deals or packages to Airbnb guests. This could include restaurants, spas, entertainment venues, and more.
While these methods allow you to earn income from Airbnb without owning property, they also come with their challenges and considerations. Always ensure that you’re operating within the bounds of local laws and regulations and maintaining the highest standards of professionalism and guest satisfaction.
2. How do I start making money with Airbnb?
Starting to make money with Airbnb involves several steps to set up your listing, attract guests, and provide a positive guest experience. Here’s a short step-by-step guide to help you get started:
- Create an Airbnb host account.
- Clean, decorate, and ensure safety.
- Write a detailed description and upload high-quality photos.
- Research competitors and set competitive rates.
- Offer good prices, showcase your space, and earn positive reviews.
- Respond quickly, provide clear check-in info, and be available.
- Keep your place clean, offer thoughtful amenities, and communicate well.
- Understand taxes, regulations, and be transparent about fees.
- Collect feedback, update your listing, and strive for excellence.
Starting on Airbnb requires careful planning, attention to detail, and a commitment to delivering a great experience to your guests. To build a successful and profitable Airbnb hosting venture, we recommend you contact Airbnb management pros with years of experience, like at CHM Inc.
3. Is being an Airbnb owner profitable?
It is worthwhile if your home is in a desirable location and you can purchase it for a fair price. It will, however, rely on how much time and work you put into managing your listing if you want to earn with Airbnb.
Most of the work can be handled if you work with a property management companies like CHM Inc. All that is left to do is sometimes meet with guests and promptly address any emerging concerns. Put another way, they will take care of whatever is required so they have more time for themselves.
4. Where do Airbnb hosts make the most money?
Airbnb host earnings depend on a variety of factors, including property location, type of property, seasonality, demand levels, and other variables. However, in general, Airbnb hosts are more likely to earn more in the following types of locations:
- Cities and areas that attract many tourists, such as Paris, New York, London, Tokyo and other metropolitan areas.
- Beach resorts, ski resorts, etc., where tourists are looking for temporary accommodation during their holidays.
- Temporary increases in housing demand are often associated with concerts, festivals, sports competitions, and so on.
- Areas with active business activity where corporate travelers and businessmen are looking for alternative accommodation.
- Properties with special architecture, design or interesting features can attract attention and command higher prices.
Real estate market conditions and conditions on the Airbnb platform may have changed since my last update. For up-to-date information on Airbnb host earnings in specific locations, it is recommended to consult official sources or research in this area.
5. How much do Airbnb owners make?
The earnings of Airbnb owners can vary widely based on factors such as location, property type, occupancy rates, seasonality, and more. Here are a few examples to give you an idea:
- In popular cities like New York City or London, the earnings potential for hosts with well-located and well-reviewed apartments could range from several hundred to over a thousand dollars per night, especially during peak seasons or major events.
- A beachfront villa in a tropical destination like Bali or the Caribbean could generate significant income, ranging from a few hundred to several thousand dollars per night, depending on the property’s amenities and luxury level.
- Cabins in popular mountain retreats like Aspen or the Swiss Alps might command high prices during the ski season, potentially ranging from several hundred to a few thousand dollars per night.
- Hosts can charge premium rates if a property is near a major event, like a music festival or a sporting event. For example, during events like the Super Bowl, hosts in the host city could earn well over 1000 dollars per night.
- Due to their novelty, unique and quirky properties, such as treehouses, converted barns, or themed accommodations, can also attract higher nightly rates. Earnings vary widely, but they often command higher prices than traditional accommodations.
These examples are rough estimates, and the actual earnings can vary significantly. Additionally, Airbnb’s policies, regulations in different jurisdictions, and market conditions impact how much hosts can earn.
6. How hard is it to run an Airbnb?
Running a business on Airbnb can be both fun and challenging. Here are some aspects to consider:
- Airbnb provides an opportunity to make money on your property. You can use free housing to generate additional income.
- You can choose when to rent out your property and for how long. This gives you the flexibility to manage your time.
- If you enjoy connecting with and helping new people, Airbnb can give you that opportunity, as interacting with guests can be an essential part of the process.
- Keeping the property clean and tidy, ensuring cleanliness between the arrival of guests, and resolving problems that arise takes time and effort.
- Airbnb is subject to regulations that may vary from location to location. Some local authorities may impose restrictions on short-term rentals, which may affect your business.
- In some popular locations, competition on Airbnb can be intense. It is not always easy to stand out among the many other offers.
- Your Airbnb earnings may vary based on seasonality, events, demand, and other factors. This can make returns less stable than traditional rentals.
- The need to be available to guests during their stay, resolving problems and requests that may arise may require additional efforts.
Suppose you decide to start an Airbnb business. In that case, it’s crucial to carefully study local laws and regulations, develop effective guest management and service strategies, and be prepared for changing situations.
7. How do I run a successful Airbnb?
Running a successful Airbnb requires careful planning, attention to detail, excellent communication, and a commitment to providing a positive guest experience. Here are some steps and tips to help you run a successful Airbnb business:
- Create an appealing listing with clear descriptions, high-quality photos, and competitive pricing.
- Ensure cleanliness, comfort, and amenities. Be responsive to inquiries and requests.
- Communicate rules and guidelines clearly, including check-in and check-out times.
- Keep the property clean and well-maintained, addressing any issues promptly.
- Equip the property with safety features and consider smart locks for security.
- Respond promptly and professionally to guests’ messages and provide clear instructions.
- Add personal touches to make guests feel welcome.
- Offer suggestions for local attractions and eateries.
- Encourage reviews and use feedback to improve.
- Ensure you’re compliant with local laws and regulations.
- Regularly assess performance and adapt based on feedback and trends.
Running a successful Airbnb requires dedication and ongoing effort. Pay attention to guest feedback, adapt to changing circumstances, and continuously strive to provide exceptional service to your guests. The specifics of managing an Airbnb business may vary depending on location, property type, and target market.
8. Can you make a living from Airbnb?
Yes, it’s possible to make a living from Airbnb, but success depends on factors like property location, type, pricing, occupancy rate, costs, and local regulations. Some hosts achieve full-time income, while others use it as a supplementary source. Research, planning, and adaptability are key to maximizing earnings.
9. Is running an Airbnb stressful?
Airbnb can be stressful due to guest management, property maintenance, scheduling, and regulations. But it offers income, new contacts, skill development, flexibility, and personalization. Balancing the positives and challenges is key to managing the stress involved.
10. How do I attract guests on Airbnb?
Attracting guests on Airbnb involves creating an appealing listing and providing a positive guest experience. Here’s a piece of advice on how to attract guests:
- Use clear photos and detailed descriptions.
- Price competitively based on local rates.
- Highlight unique features of your property.
- Earn positive reviews through guest satisfaction.
- Respond promptly and professionally to inquiries.
- Ensure a clean, comfortable, and well-equipped space.
- Provide flexible check-in and clear instructions.
- Consider promotions and instant booking.
- Invest in professional photography if possible.
- Offer local recommendations and insights.
Creating a standout listing and providing an exceptional guest experience are key to attracting guests and earning positive reviews. Continuously seeking feedback and adapting your approach based on guest preferences can help enhance your listing’s appeal.
Updated on: . Author:
