As it becomes more difficult for people to afford homes, the real estate market is becoming more competitive.
One way to still make money in the real estate industry without owning property is by renting it out through online marketplaces like Airbnb. It’s a way to make passive income on something that isn’t even yours!
In case you’re not familiar, Airbnb is an online rental platform for connecting those with extra living space to those looking for a place to stay short-term.
It was launched in August 2008 and has since welcomed over 4,000,000 visitors from almost every country.
The short answer is You don’t need to own any property to make money with Airbnb. You can also rent out your space, house-sit vacant Airbnb properties, or manage real estate.
Make Money on Airbnb without Owning Properties
Here are some ways to quickly make money on Airbnb.
1. Property Management
You can make money by renting out other people’s properties. If you aren’t interested in renting your own property, or if there is no property you want to manage, it can be a good option.
The following are the essentials to becoming an Airbnb property manager.
- Register on Airbnb to become a property owner manager
- Send an application to Airbnb and get approved
- Create a listing for your services as a property manager
- How to market Airbnb Property Management Service to Potential Clients
- Get to know your clients and negotiate rates
- Make sure the property is well-managed and kept clean.
- At arrival, hand keys to your guests and take them with you when you leave.
- For example, hotels that allow 18-year olds to check-in at their establishments or any service dogs that pose safety risks should be made compulsory
- Manage any problems that arise during the rental period; you’re basically a local 24-hour hotel manager
- Collect payment from the guests, and then send it to the client at the conclusion of the rental term
- For your services, charge a fee. Management fees for Airbnb properties usually run between 10-20% of the nightly rate and cleaning fees, or a flat fee per booking.
Our guide to States with Free Land and Government Grants.
2. Airbnb House Sitting
You can also make money by renting your house. People who travel with pets are increasingly attracted to house sitting. It allows them to see new places without having to leave their home.
They can live in an apartment or house of another person while they are away, and will take care any problems that might arise. As an example, you can ensure the house stays warm in cold weather and the pipes don’t freeze. You can also deliver their mail, magazine, and Amazon packages late in the evening so thieves don’t steal it.
3. Rent Furnished Properties
You can also rent furnished Airbnb properties to your guests and make money. You will be responsible for listing, managing, and delivering the keys to your guests.
Here are some things to remember when renting out used furniture to Airbnb property owners.
- It can be costly to furnish a house or rent it out.
- You will also need to have homeowner’s or renter’s insurance in place before being able to list your furnished house on Airbnb because the website requires it.
- You should be available to help guests if anything goes wrong.
- Decide whether to charge a cleaning service fee. These fees can quickly add up, especially if your house is rented out for a prolonged period.
4. Contacting Homeowners looking to Rent
Airbnb allows you to make money by contacting homeowners who are looking to rent their homes. This is a great opportunity for homeowners, investors, and builders who have vacant or unused properties. It also gives the owner an opportunity to earn extra income by finding another person who is interested in using it.
Here are some great tips to help homeowners rent out their homes.
- Talk to a community leader or real-estate investor in your area about homeowner opportunities on Airbnb.
- Check local property sale listings online because some people might be selling their homes due to relocation. You can help them preserve their property and rent it out until it goes up for sale.
- Check Airbnb for listings in the area. You can also contact homeowners directly to inquire about renting their properties.
5. Become an Airbnb Cleaner
You can start a cleaning service for Airbnb properties if you’re comfortable with hard and dirty labor.
Airbnb has over 100,000 cities worldwide with rental properties and over 5.6million active listings. There is a huge demand for people who can clean an Airbnb fast seven days a week. Some properties should be cleaned each day after guests leave, or before the next guest arrives.
Checklist for Housekeeping Services:
- Kitchen: Clean counters, appliances and sinks
- Bathrooms: Toilets, bathtubs, showers, mirrors
- Living Area: Vacuuming, sweeping, mopping, and dusting furniture and floors
- Dishes Wipe clean, dry and store
- Towels and Sheets: Lay down sheets and towels, then wash and dry them.
- Restock: Toilet paper, tissues and paper goods refills
- Garbage: Empty and recycle the garbage
- Decluttering and organization:
Our guide to renting a carpet-cleaner from Walmart and Publix.
6. Airbnb Experiences
Airbnb hosts can make a lot of money by hosting Airbnb experiences.
This means that you can share your expertise and knowledge with guests, offering them different experiences like a bike ride, massages, or eating at local eateries.
People who share their unique talents or interests with others are well-suited for this opportunity. For example, if your passion is arts and crafts you might be able to offer classes in crocheting or knitting with local materials. A cooking class could be held by you, securing local food and teaching guests how to prepare new recipes at home.
7. Co-Host an established Airbnb
You can make money by being a host for an established Airbnb business owner.
As an Airbnb host, you will be answering guests’ messages and ensuring the property is clean before they arrive.
8. Get started as an Airbnb Affiliate
If you don’t want to rent out your own home or start an Airbnb cleaning service, then becoming an Airbnb affiliate might be the perfect option for you.
You can make money placing ads on your site or blog that showcases various Airbnb properties.
Airbnb offers affiliates various tools and resources to help you make the most of its affiliate program.
9. Refer to Airbnb
Another way to make money is with the Airbnb referral program.
If you refer someone who completes their first stay using your Airbnb referral link, you’ll earn no less than $40 per booking!
First, you will need to apply for the Airbnb Referral Program. You will need to provide your audience demographics as well as how you plan to promote Airbnb. In most cases, you’ll hear from a representative in 2 to 3 business days for approval or additional questions.
Airbnb: How to Make Money Without Owning Property Summary
Making money on Airbnb without owning property is possible. There are two ways to earn extra income: working directly with property owners or using affiliate marketing.
Some cases allow you to make six figures in six months with Airbnb, without having to own a property. Scale your Airbnb property management business in a location where the owners are not from the state. They will share their income with you so that you can manage their property locally while they are away.
Are you looking for more ways to make money in the future? If so, please check out our guides on the 37+ Easiest Things to Flip for Profit and 23 Side Jobs with a Pickup Truck to Make Money!