Airbnb is a business that relies on property rental. Through this popular service, Airbnb users can rent out accommodation. This service is commonly used for vacation rentals.
Therefore, the notion of using Airbnb without owning a property might sound a little odd. But the truth is that you can still use Airbnb to make money off a property even if you don’t own it. Continue reading if you want to find out how to do Airbnb without owning property!
How To Do Airbnb Without Owning Property
If you want to make money through Airbnb but don’t own a property, here are some of the top strategies that you can use:
1. Utilize The Airbnb Rental Arbitrage
The Airbnb rental arbitrage scheme is a helpful way of subletting a property. Essentially, this scheme allows hosts to rent a property that they can sublet through Airbnb. This way, hosts can continue to make money through Airbnb without having to own a property.
Of course, there are certain considerations to bear in mind before going ahead with this scheme.
Firstly, you must ensure that the amount you can charge for the property is more than the rent. Otherwise, you will be unable to make a profit through this scheme. Let’s say you are paying $1,800 a month to rent a 3-bedroom house.
To make a profit, the rate that you charge must be enough to make more than $1,800 in the space of a month.
Furthermore, you should consider the legality of this scheme. Though Airbnb rental arbitrage is perfectly legal, its implementation will depend on the rental regulations in your area. This is because subletting is not legal in every city.
You could be evicted if you attempt to sublet a property through Airbnb if it violates the rental regulations in your area.
Even if subletting is legal in your area, you should first acquire the permission of the landlord. This is because subletting could violate the lease.
Ultimately, the Airbnb rental arbitrage scheme can be extremely profitable, as you won’t need much capital to start. However, you’ll need to do lots of research before you can start.
2. Work As An Airbnb Consultant
You might be wondering what an Airbnb consultancy business does. Essentially, these companies are there to help Airbnb hosts. This includes helping hosts to overcome problems.
Moreover, these consultants use their experience so that hosts can make the most of their properties and potentially increase their revenue.
To become an Airbnb consultant, you will either need to be hired by a pre-existing agency or form your own consulting agency. However, it’s best to become one of these consultants if you have extensive experience with Airbnb.
3. Become A Cleaner For Airbnb
Airbnb property owners must ensure that their homes are clean before new customers arrive. This can be quite time-consuming, especially if they own a large property.
To save themselves time and energy, some Airbnb hosts will outsource this cleaning service. Therefore, if you don’t mind cleaning on your hands and knees, you can make money as an Airbnb cleaner.
These cleaning services are regularly sought-after, so it shouldn’t be too hard to find clients. Simply by checking websites like Indeed or Craigslist, you can find Airbnb hosts who desire cleaners.
Just bear in mind that the hourly rate is inconsistent. Therefore, the amount you can make varies dramatically.
4. Use Airbnb Experiences
Airbnb Experiences is a system that enables guests to sign up for various events and activities in the local area. These unique experiences are a wonderful way for guests to experience the area in which they are staying.
This is a rather crafty way of using Airbnb to make money without owning a rental property. This money-making method is ideal for people who have a passion for their local area.
Ideally, you will have a unique passion that will allow you to provide a bespoke experience for your guests. Most guests won’t want to do a tour or activity that they can experience elsewhere.
The downside to this technique is that Airbnb Experiences charges a 20% commission. Therefore, you will need to factor this into the price of the experience.
5. Work As An Airbnb Co-Host
What is an Airbnb co-host? Essentially, a co-host is someone that has been hired to look after and manage the guests.
Co-hosts will relieve the pressure on hosts by taking on some of the key responsibilities. They tend to be close to the host, such as a friend, neighbor, or family member. Thus, becoming a co-host can simply depend on who you know.
Co-hosting is particularly ideal for people who aren’t overly familiar with Airbnb. It provides a fantastic opportunity that will enable co-hosts to learn more about the industry.
Unlike other options, such as becoming an Airbnb consultant, you won’t already have to know loads about the business.
6. Copyright for Airbnb
Lastly, it’s easy to overlook how important copywriting is for businesses like Airbnb. Despite this, hosts must write compelling property descriptions to entice customers.
As a result, copywriters have started using online platforms to advertise their services to Airbnb hosts. This enables them to make money simply through writing these descriptions. This is a rather flexible way to work, though you must look for customers yourself.
Frequently Asked Questions
Can You Host On Airbnb With A Mortgage?
Yes, it’s possible to become a host on Airbnb if you have a residential mortgage. However, you should inform your mortgage provider first. Most providers will allow you to take in lodgers through Airbnb.
Is Owning An Airbnb Property Profitable?
Yes, this can be an incredibly profitable venture! It’s a great way of earning mostly passive income from a spare property.
Of course, factors such as the location of the property will affect how much money you can make. Finding a location near tourist hotspots is vital for making a profit through Airbnb.
As you can see, there are numerous ways for people to make money through Airbnb even if they do not have ownership over a property. So what are you waiting for? Why not use these techniques to make some extra cash through Airbnb?!
Paul Martinez is the founder of BendingDestiny.com. He is an expert in the areas of finance, real estate, and eCommerce.
Join him on BendingDestiny.com to learn how to improve your financial life and excel in these areas. Before starting this blog, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.