How to Make Money on Airbnb Without Owning Property
Did you know you can without owning property?
Airbnb is one of the fastest-growing opportunities for making money online. Hosts rent out a property to travelers not looking for the typical hotel-motel thing.
Owners use Airbnb as a vetted resource. It's cost-saving and fast compared to realtors and agents.
Now, we're talking about Airbnb, so let the numbers speak for themselves.
| $13.9 billion | Airbnb's annual revenue between 2014 and 2020 |
| 306 million | Number of Airbnb users between 2012 and 2018 |
| 772 million | Airbnb's number of bookings for type years 2016 to 2020 |
| $65 billion | Total earnings of Airbnb property hosts since the company's launch |
| $924 | Average a host can make a month |
| 75 | Number of hosts who became millionaires in 2016 |
Airbnb is active in 81,000 cities across 200 countries. The sites are in some of the most popular destinations in the world, as well as on the offbeat path for those looking to get away from it all.
Airbnb is a great way . And, as contradictory as it may seem for an outlet that rents property, you can make money on Airbnb without owning any.
Let DoNotPay show you how.
How to Make Money on Airbnb Without Owning Property
There are a variety of creative ways to step into the vacation rental business and make a nice stream of income without having your name on a deed or lease. Here are several that the entrepreneur can give a shot.
Airbnb Rental Route
The company has a rental arbitration where you rent a property solely to sublet. Of course, for the agreement to work, your business expenses can't exceed generated income. Issues could include local restrictions against subletting or landlords who don't let renters sublet.
Become an Airbnb Co-host
Co-hosting is a good place to start with Airbnb. You work with a seasoned Airbnb host:
- Confirming bookings
- Working with renters
- Performing property inspections
- Managing cleaning and maintenance
- Restocking the units
Co-hosting is an outstanding way to learn the Airbnb business. Co-hosting will be less profitable and income will fluctuate.
Become a Member of a Vacation Rental Franchise
For a fee, local property managers will give you a unique license from an existing franchise owner. The license allows you to use franchise resources. Under their brand, you rent their properties.
This model requires commitment as a contract can last for years. You also need that buy-in fee and need to know the franchise will have greater control of the unit than you.
Open an Airbnb Cleaning Service
Like any lodging enterprise, many Airbnb hosts outsource the maintenance end of their businesses. There will be no shortage of work. Besides coming up with the costs, the venture will require you to develop and implement a smart marketing strategy.
Can You Make Good Money With Airbnb?
Yes, but success isn't guaranteed. Thousands are turning away from conventional lodgings, preferring more personalized spaces for enjoying their getaways. And if you want to get a foothold making money online, your research will be critical.
Here's what you need to know and do.
- Determine what niche you want to carve. A single room in your house? A cabin, cottage, or airstream? Older guests or millennials? Airbnbs can constitute almost any environment, but it should be one you're comfortable managing.
- If the property's not yours, get permission from your co-op, landlord, or HOA to sublet.
- See if there are restrictions about subletting and if you can negotiate around them.
Research to Set Your Price
Three things to keep in mind:
- Affordability (for you and your renter)
- Your audience
- The market
Get Support
Managing Airbnb isn't an operation most people can handle themselves. Having the aforementioned co-host can help with everything from cleaning to answering emails, taking calls, dealing with emergencies, and having a physical presence when you can't be there.
How to Start Making Money on Airbnb
Knowing how to make money on Airbnb without owning property is going to require diligence. Airbnb will host your rental but is only a go-between. They don't promote or advertise your rental.
Here are a few tips for setting up success.
Create a Powerful Listing
This is your key marketing tool. Strong headlines, detailed descriptions of the property, and transparency have to be paramount. The last thing you want is prepping customers to leave bad reviews.
Be an Airbnb Superhost
Superhosts are a unique set of owners with increased visibility via Airbnb algorithms. Superhosts boast at least 10 stays a year, three reservations that total 100 nights, and a less than one percent cancellation rate. Superhosts also maintain a 24-hour response time to 90 percent of all messages.
Make Money With the Help of DoNotPay
DoNotPay helps you . We do it by finding missing money, signing you up for clinical trials, and engaging you in surveys and data breach protection. Use our processes to become an egg donor or to give blood and make money on your time.
Here's how.
- Log-in to DoNotPay and head over to the Make Money Online product.
- Select which option you're interested in from our list.
- Complete the chatbot to start earning extra cash!
What Else Does DoNotPay Do?
DoNotPay is the layman's resource for fighting big business, landlords, and government hassle. We're also a great place to find money, get help with your bills, invest in the market, and get risk-free trials. Need help solving a problem? Check out DoNotPay!