If you’ve ever looked for ways to earn money on Airbnb without owning property, you’re undoubtedly under the impression that subletting was your only choice. That is not the case, though. Without being a homeowner, there are various additional methods to make money on Airbnb.
Without owning any houses, Airbnb company owners may earn up to $100,000 per year, if not more. We’ve listed the best nine ways to earn money on Airbnb without owning a house, ranging from co-hosting to becoming a vacation rental consultant.
Ways to Earn Money on Airbnb Without Owning a Property
1. Become a Property Manager for Short-Term Rentals
As a property manager, one of the simplest ways to earn money on Airbnb without investing in a vacation home is to become a property manager. Due to the tremendous growth of the vacation rental business, the need for short-term rental property managers is also increasing. Not only is demand increasing, but a property manager’s employment also provides flexible working hours. Your primary tasks will include the following:
- Managing the property owner’s requirements
- Booking confirmations
- Interactions with visitors
- Keeping an eye on the check-in procedure
- Marketing
- Inspections of real estate
- Cleaning and maintenance duties are organized.
To become a short-term rental manager, you must first grasp your state’s regulatory criteria. For instance, some states need a real estate broker’s license and/or a property manager’s license, while others do not. It is preferable to continue your education in property management even if it is not required since this will help you differentiate yourself from the competitors.
What are the advantages and disadvantages of working as a short-term rental manager?
Pros:
- Your work schedule will be more adaptable.
- You do not need to own a property to begin property management.
Cons:
- You may need to continue your education, which might be costly.
- Managing numerous rentals for additional hosts may be a difficult process.
To avoid being overwhelmed, it’s a good idea to invest in vacation rental software that automates processes, such as Lodgable. Lodgable can assist you in reducing your burden by:
- Managing several accounts and listings across the industry’s leading vacation rental platforms
- Using direct booking management tools to handle direct bookings
- Using the Dashboard function, you can create critical reports on your business’s performance and monitor KPIs.
How much money can a short-term rental manager earn?
A short-term rental manager may earn an average of $42,000 per year in the United States. However, it may reach around $60,000 per year if you have further expertise.
2. Utilize Airbnb’s Rental Arbitrage Service.
In a nutshell, Airbnb rental arbitrage refers to the practice of renting a home solely to sublet it on vacation rental websites. To make this business model function, the revenue generated must exceed the costs of rent and other company-related expenditures.
Before implementing this plan, you should evaluate legal requirements and laws since certain cities prohibit subletting. Additionally, you need to seek approval from your landlord before renting out your leased space. Frequently, long-term rental lease agreements prohibit tenants from renting out houses via listing services. If a renter breaks the agreement, they face eviction. On the other hand, maybe rental arbitrage is an excellent way to join the sector provided both sides agree.
What are the advantages and disadvantages of Airbnb arbitrage?
Pros:
- You do not need a large amount of cash to start since you may do it without owning a property.
- You can keep 100% of your revenue, which is impossible with other solutions. For instance, as a property manager, you may only rely on a certain amount of the property owner’s revenue.
Cons:
- Numerous cities enact municipal rules and regulations against subletting, which may make finding a space more difficult.
- Finding a landlord willing to lease their home on Airbnb may be difficult.
3. Become a consultant for Airbnb
If you already have some experience managing Airbnb rentals and are interested in assisting other entrepreneurs in growing their businesses, you may want to try becoming an Airbnb consultant. With expertise in managing short-term rentals, you’ll need marketing abilities to develop your brand.
As an Airbnb consultant, you’ll assist hosts in increasing bookings, increasing their rating, and perhaps purchasing and selling short-term rentals. Additionally, you will need to discover a unique specialty – this is how the most successful consultants succeed. Therefore, undertake research and consider your abilities before picking which particular services to market.
What are the advantages and disadvantages of working as an Airbnb consultant?
Pros:
- Your initial beginning expenditures will be negligible.
- You may establish yourself as an authority figure.
Cons:
- You must have experience hosting on Airbnb.
- You must possess self-motivation.
How much money can an Airbnb consultant earn?
In the United States, an Airbnb consultant might earn between $83,000 and $90,000 per year on average.
4. Establish a cleaning service for Airbnb
Establishing an Airbnb cleaning service may be a lucrative venture since hosts often outsource the first chore. This ensures that you will never be without employment.
To begin your journey as an Airbnb cleaning service entrepreneur, you must research. What are additional cleaning services available? Which industry norms apply?
Additionally, it’s essential to determine if your state has any regulations, such as insurance or licensing, as well as the normal cleaning prices. Bear in mind that expenditures must be considered as well. Cleaning materials, equipment, personnel, and marketing are all examples of expenditures associated with this sort of company.
What are the advantages and disadvantages of establishing an Airbnb cleaning service?
Pros:
- There is no scarcity of work since many hosts use external cleaning businesses.
- The initial expenditures are far lower than those associated with owning a vacation rental franchise.
Cons:
- You will need to sell yourself independently.
- You’ll need to assemble a trustworthy crew to establish a fully-functioning cleaning firm.
How much money can you earn as an Airbnb cleaning service owner?
A cleaner’s average hourly wage is around $25. On average, cleaners make about $800 per month. Profitability for a cleaning business owner is contingent upon cleaning charges and the number of properties serviced each month. It may be rather profitable!
5. Become a professional photographer for Airbnb
Becoming an Airbnb photographer is another unique option to make money with Airbnb.
There are two ways to explore this avenue. You may either become a freelance marketplace listing photographer and have your work included on Airbnb, or you can offer your skills on other platforms such as Fiverr, Upwork, or Instagram. If you’re interested in being listed on Airbnb, you can submit an application using this form.
Whichever route you pursue, you’re going to need to understand interior photography. Therefore, make sure to educate yourself on how to arrange settings.
What are the advantages and disadvantages of working as an Airbnb photographer?
Pros:
- It allows for flexible work hours.
- You may have more options for travel and discovery.
Cons:
- Equipment might be rather costly.
- You’ll need to promote your services.
How much money can an Airbnb photographer earn?
According to internet statistics, an average year’s earnings for an Airbnb photographer are over $50,000. Hourly rates vary from $31 to $94.
6. Become acquainted with the art of vacation rental marketing
To stay ahead of the competition, hosts must advertise their homes. It becomes more critical if they earn direct reservations and rely on their website to entice prospective tourists.
Because hosts have a lot on their plate, they often seek external assistance in developing and implementing an effective marketing plan to advertise their rentals. If you currently possess marketing talents and are keen to get into the field, this is a good opportunity to put them to use. However, if you lack marketing expertise but are eager to get into the industry, you may begin with social media. Once you’ve mastered this, you may branch out into other areas of marketing.
- Vacation rental marketers, in general, offer the following services:
- Marketing using social media
- Marketing through email
- Creation of content
- Creating a blog
- SEO
- SEM
- Generation of leads
- Design of a website
What are the advantages and disadvantages of working as a vacation rental marketer?
Pros:
- You will incur little overhead fees.
- You may simply control it from the comfort of your own home.
Cons:
- You must possess the requisite technical abilities.
- You will need the assistance of a dependable staff.
How much money can a vacation rental marketer earn?
You may expect to make around $75,000 per year as a marketer.
Conclusion
Earning money with Airbnb has never been simpler. Often, you don’t even need to rent or manage a house to succeed as an Airbnb professional. Even if you lack experience, a job option available to you may be started as a side hustle or grown into a full-time position. Some of these tactics are more difficult to implement than others and demand a greater financial investment, but you may earn a livable wage with enough effort and dedication. If you’re looking for the perfect place to call home, come take a look at these new apartments for rent in Irving.
