The rising cost of housing has been a major barrier for many individuals looking to venture into the short-term rental industry and start hosting on Airbnb. If you have ever searched for “how to make money on Airbnb without owning property,” you may have come across a plethora of suggestions, most of which revolve around the idea of leveraging Airbnb arbitrage or becoming a short-term rental manager.
However, the reality is quite different.
In this article, we have compiled ten creative strategies, ranging from becoming an Airbnb Co-host to becoming a professional writer, making it perhaps the most comprehensive guide you can find. You are bound to find a method that suits you, allowing you to earn money through Airbnb without purchasing real estate.
Do you need to own a property to make money on Airbnb?
Absolutely not!
As mentioned earlier, you really don’t have to own a house to start making money on Airbnb. In fact, in most cases, you don’t even need to invest a significant amount of money to kickstart your Airbnb business.
According to Statista, the total revenue of the vacation rental industry in the United States alone is estimated to reach $19.3 billion this year. And this figure isn’t solely comprised of rental income from homeowners. There are individuals who don’t own any properties yet still manage to earn $100,000 or even more annually through Airbnb.
10 Methods to Make Money on Airbnb without Owning a Property
1. Airbnb Arbitrage
Airbnb arbitrage is a common business model that involves capitalizing on the price difference between the long-term and short-term rental markets.
In simple terms, you can lease a property long-term and then profit by subleasing it on Airbnb to vacationers at a higher price.
This business model is particularly suitable for beginners in the industry as it eliminates the need to bear the high costs of purchasing property. Instead, you can focus on efficient management to ensure that your income exceeds expenses.
Pros and Cons of Airbnb Arbitrage
Pros:
- No need to invest in property purchases.
- Flexibility to switch or expand your business at any time.
- Enjoy the full profits without sharing with property owners.
- Lower investment risk compared to buying properties.
Cons:
- Some regions have regulations prohibiting subleasing, which requires prior confirmation.
- Property owners may not permit subleasing, especially on Airbnb.
- Risk of property damage by guests, requiring you to bear repair costs.
- The actual business performance may not meet expectations, making it difficult to cover rental costs.
- You are responsible for any damages and may have to pay additional utility expenses for the rented property.
How to do Airbnb arbitrage?
- Find suitable properties:
Not all properties are suitable for subleasing on Airbnb. You must ensure they meet specific criteria, including:
- Operating in an area where Airbnb rentals are allowed.
- Complying with local laws regarding subleasing for Airbnb business.
- Obtaining permission from the property owner for subleasing.
- Choosing properties with favorable locations, convenient transportation, and good surroundings.
- Ensuring the property has all necessary facilities and is hazard-free.
- Efficient operations:
Your profitability largely depends on your operational efficiency. You should strive to achieve the following goals:
- Rank your listings high in Airbnb search results.
- Respond promptly to every booking request and inquiry.
- Establish flexible and competitive pricing strategies.
- Provide an outstanding guest experience to avoid negative reviews.
- List your properties on multiple booking platforms to attract more guests.
How much can you earn from Airbnb arbitrage?
There is no precise answer to how much you can earn through Airbnb arbitrage, as it varies based on different locations, property conditions, and operational capabilities.
However, in general, the cost structure for Airbnb subleasing is relatively clear, including property rent, cleaning fees, furniture depreciation, Airbnb commission, and property management system (PMS) costs. If done correctly, you can generate profits that are two to three times the costs involved.
2. Short-Term Rental Manager
With the rapid growth of the vacation rental industry, the demand for professional short-term rental managers is increasing. Many investors lack the time to effectively manage their short-term rental properties and provide necessary guest services.
The responsibilities of a short-term rental manager involve assisting landlords in handling administrative and operational tasks related to short-term rental properties. This includes tasks such as marketing and promotion, guest communication, cleaning, maintenance, and ensuring excellent guest experiences.
Pros and Cons of being a short term rental manager
Pros:
- No need to bear the high costs of purchasing properties.
- You can set flexible and adaptable working hours.
- You can change or expand your business at any time.
Cons:
- Some countries and regions may require professional qualifications.
- Weekend and holiday work may be necessary due to peak times in the short-term rental property industry.
- Managing multiple properties for different landlords across various platforms requires significant time and effort.
- You are responsible for the profitability of the landlords.
Tips for being a Short-term rental manager
- Consider incorporating a direct booking website into your marketing plan to increase the chances of repeat bookings and avoid fees from platforms like Airbnb and other Online Travel Agencies (OTAs). This will help your landlords generate more revenue.
- Utilize property management software with automation features to streamline repetitive management tasks and organize schedules. This will save you considerable time and energy, allowing you to expand your business further.
By automating your operations, you can enhance the guest experience and save a significant amount of daily operational time, providing more opportunities to grow your business and increase rental income. Especially when managing multiple properties across multiple booking platforms, investing in vacation rental software like Hostex.io to automate tasks is a wise idea. Hostex can help reduce your workload in the following ways:
- Synchronize management of multiple accounts and properties across all booking platforms.
- Sync reservations from various platforms to eliminate the risk of double bookings.
- Synchronize messages from different platforms, ensuring no booking requests are missed.
- Ensure timely communication through automated replies and trigger-based messages.
- Create your own direct booking website with just a few clicks.
- Securely process payments through integration with Stripe.
- Schedule cleaning tasks automatically and track their completion in real time.
- Send and respond to guest reviews automatically, improving positive feedback rates.
- Automatically adjust pricing intelligently through integration with PriceLabs and Rategenie.
- Accessible via mobile app and computer web interface for multi-device management.
How much can you earn as a short-term rental manager?
According to Salary.com, the average salary for a short-term rental manager in the United States is $44,000. This figure can serve as a reference, but the situation may vary significantly in different countries and regions.
Typically, Airbnb property managers charge a fee ranging from 10% to 30% of the actual rental income. This percentage varies based on factors such as property specifics and the range of services provided.
If you want to earn more income, you can achieve it by managing multiple rental properties simultaneously. You don’t need to worry about the workload because with the powerful features of automated property management tools, managing 100 properties is just as easy as managing one.
3. Airbnb Co-host
An Airbnb Co-host performs similar tasks to a short-term rental manager, but they are more like an assistant to the host, helping to share some of the repetitive workload. The responsibilities of an Airbnb Co-host include:
- Confirming reservations
- Communicating with guests
- Overseeing the check-in and check-out process
- Organizing cleaning and maintenance tasks
- Writing reviews for guests
If you are new to the short-term rental industry and don’t have much experience or specialized knowledge, becoming an Airbnb Co-host is a great starting point.
Pros and Cons of being an Airbnb Cohost:
Pros:
- You don’t have to bear the high costs of purchasing a property.
- You can work according to your own schedule.
- There are many opportunities available within the Airbnb community.
- You can gain valuable experience in managing an Airbnb.
Cons:
- You have limited control and decision-making power.
- The work can often be repetitive and monotonous.
- Your income may fluctuate depending on how much work the host assigns to you.
How much can you earn as an Airbnb Co-host?
The salary of an Airbnb Co-host is determined jointly by the host and yourself, including the tasks assigned and how profits are allocated. This can vary significantly due to various factors. Generally, you can expect to receive around 10-20% of the accommodation income. For example, if you co-host a vacation rental with an annual income of $20,000, you can expect to earn around $2,000-$4,000 as your salary.
Similar to a short-term rental manager, if you want to increase your income further, you can become an Airbnb Co-host for more hosts. However, it is worth noting that with the help of automated property management systems, your workload will not necessarily increase with the addition of more properties.
4. Joining a Vacation Rental Franchise
Investing in a vacation rental franchise can be another way to make money with Airbnb without owning properties. By paying a certain fee and partnering with a well-known brand, you can leverage the brand’s recognition and reputation to attract more customers and increase occupancy rates.
Pros and Cons of obtaining a vacation rental franchise
Pros:
- You don’t have to bear the high costs of purchasing properties.
- You will receive professional training, support, and operational systems.
- You will benefit from the brand’s awareness and marketing budget.
Cons:
- You must pay an initial investment and ongoing franchise fees.
- You must adhere to the brand guidelines set by the franchisor.
- You need to sign formal contracts with various restrictive conditions.
Tips for engaging in a vacation rental franchise
- Before investing, ensure that you have a thorough understanding of the franchise company’s business model, fee structure, and expected returns.
- Choose a franchise company with an excellent reputation and ensure that their operations align with your standards and expectations.
- Familiarize yourself with and adapt to the designated operating area, understand its characteristics and requirements, and assess potential expansion opportunities.
- Carefully review the contract terms before formally joining the franchise to ensure that your rights and interests are adequately protected.
- Maintain good communication and collaboration with the franchisor, and actively participate in training and support programs to enhance your business capabilities.
- Regularly evaluate business performance, identify improvement and growth opportunities, and take appropriate actions.
- Provide professional and high-quality customer service, and build a good reputation and customer relationships to ensure sustained business growth.
How much can you earn from engaging in a franchise?
The income potential through a franchise can vary significantly, and it is challenging to provide specific estimates as the income gap can be substantial. It will depend on the specific franchise program you choose to join, as you will need to make a significant upfront investment. This means that you must have a good understanding and confidence in the brand and have reasonable expectations that it will generate sufficient profits for you.
5. Airbnb Consultant
If you have extensive experience in managing and operating Airbnb rentals and a willingness to assist other hosts in their growth, you may consider looking for Airbnb consultant jobs. This can be a profitable endeavor as you can charge consultation fees for your services.
As a vacation rental consultant, you can provide professional advice to property owners on how to optimize their short-term rental properties. This includes guidance on pricing, marketing, and property management to help hosts maximize their bookings and improve their rankings.
Pros and Cons of Airbnb Consultant Jobs
Pros:
- You require minimal financial investment.
- You will be respected and recognized as an expert in your field.
Cons:
- You need to have substantial experience as an Airbnb host.
- Job opportunities may be relatively limited.
How much can you earn as an Airbnb consultant?
Vacation rental consultants typically charge an hourly rate. Regular consultants usually charge a few tens of dollars per hour, while senior consultants can charge up to $80 per hour. According to statistics, the average annual income for vacation rental consultants is around $61,000, which appears to be a respectable profession.
Please note that these figures are provided as a reference, and actual earnings may vary. It is advisable to conduct market research before becoming an Airbnb consultant to understand the local demand and competition, allowing you to formulate a reasonable pricing strategy.
6. Airbnb Experience Host
Hosting an Airbnb Experience is one of the best ways to make money on Airbnb. Since the launch of the Airbnb Experiences platform in 2016, it has helped numerous experienced hosts generate a stable income source.
By joining this program, you can offer a variety of activities to guests based on your interests and abilities. These activities can range from city tours, cooking classes, and outdoor adventures to art workshops, and you can even provide online experiences from the comfort of your own home.
Pros and Cons of becoming an Airbnb experience host
Pros:
- You don’t need to bear the high costs of purchasing properties.
- You get rewarded for doing what you love.
- You have the opportunity to meet new friends from around the world.
Cons:
- Depending on the type of experience you offer, you may need to apply for business licenses.
- You must be an expert in the field of the service you provide.
- There are strict rules to follow in certain aspects.
- Constantly coming up with new activity ideas can be challenging.
How much can you earn from hosting Airbnb Experiences?
As an Experience host, you have the flexibility to set your own prices based on your interests and the specialized services you offer. Prices typically range from $20 to $150 per person.
Similar to renting out a property, Airbnb also takes a percentage of your earnings as a commission. According to Airbnb’s data, successful Experience hosts can earn a net income exceeding $20,000.
7. Airbnb Cleaning Services
Airbnb cleaning is a significant market as it is typically outsourced by hosts. You can consider it as a lucrative opportunity, given that Airbnb’s market continues to expand, resulting in an increasing demand for reliable and efficient cleaning services. If you are interested in this line of work, it offers plentiful opportunities.
Pros and Cons of providing Airbnb cleaning services
Pros:
- Low startup costs.
- High market demand and ample job opportunities.
- No professional qualifications are required.
Cons:
- You will need to handle your own marketing.
- Finding a professional and reliable team is crucial.
- Strict adherence to the cleaning schedule set by the hosts.
- Fierce competition in the industry.
Tips for engaging in Airbnb cleaning services
To become an Airbnb cleaning service provider, you need to conduct some research:
- Familiarize yourself with local laws and regulations, such as insurance and permits.
- Determine the costs involved in cleaning products, equipment, and marketing.
- Understand the local standards for cleaning fees to set your pricing.
- Clearly define ways to find job opportunities, such as browsing job websites, posting on social media or community platforms, seeking referrals through personal networks, or distributing flyers on the streets.
How much can you earn from providing Airbnb cleaning services?
The profitability of cleaning services will depend on the scope of services you offer, your pricing strategy, and the number of properties you clean each month.
Taking the example of the United States, the average hourly rate for Airbnb cleaners is around $20. However, many cleaning services charge per job, settling on a monthly basis. This means that if you can work 7 hours a day, your monthly income can reach approximately $4,000.
8. Airbnb Photographer
Many people may not be aware that being an Airbnb photographer is a reliable way to make money. High-quality photos have a significant impact on the success of Airbnb listings as they provide the most visual reference for potential guests. If you have excellent photography skills, especially in capturing still objects, you can truly help hosts showcase their properties effectively and attract more guests.
Pros and Cons of becoming an Airbnb photographer
Pros:
- There is a considerable demand in the market.
- You can have the freedom to set flexible working hours.
- You will have more opportunities to travel, meet new people, and discover new places.
Cons:
- The cost of professional photography equipment can be high.
- The competition can be fierce.
- You need to have the ability to market your services.
How much can you earn as an Airbnb photographer?
To establish yourself as an Airbnb photographer, you can list your services as a freelance photographer and promote your work through platforms like Upwork, Fiverr, and Instagram.
Pricing for Airbnb photographers can vary significantly depending on the location and the level of service. Taking the example of the United States, hourly rates typically range from $25 to $70, and on average, they can earn around $50,000 per year.
9. Airbnb Copywriter
An Airbnb copywriter is a professional who specializes in creating captivating descriptions and compelling promotional copy for Airbnb listings. By utilizing unique writing skills and market insights, they combine the features of a property with the needs of the target audience to create vivid and engaging listing descriptions, helping hosts attract more bookings.
Pros and Cons of becoming an Airbnb copywriter
Pros:
- You require minimal upfront investment.
- You can have the freedom to set flexible working hours and work arrangements.
- Opportunities to expand your network within the industry.
- You can expand your business scope as you see fit.
Cons:
- The competition is highly intense.
- You need keen market insights.
- You need to maintain a continuous flow of creativity.
- You will need to market yourself.
Tips for being a successful Airbnb copywriter
- Familiarize yourself with the Airbnb platform: Understanding the rules, standards, and listing requirements of the Airbnb platform is essential to becoming an excellent Airbnb copywriter.
- Research the target audience: Understand the needs, preferences, and expectations of the target audience you are writing for. This will help you create more appealing and targeted listing descriptions.
- Flexible pricing strategy: You may need to offer your services at lower prices initially to establish your reputation and client base. As you gain experience and reputation, you can gradually increase your prices.
- Combine with high-quality images: Pair your textual descriptions with beautiful photos to better showcase the charm and attractiveness of the property.
How much can you earn as an Airbnb copywriter?
The income of an Airbnb copywriter depends on several factors, including experience, writing skills, and market demand. Generally, you can calculate prices based on factors such as the word count, complexity, and level of demand for each copy.
In areas with high market demand, exceptional Airbnb copywriters have the opportunity to earn substantial income. However, to earn a stable income, you need to continuously improve your writing skills, market insights, and reputation.
10. Vacation Rental Marketing
In order to succeed in the competitive vacation rental market, many hosts understand the importance of marketing, but they may not have the skills or time to do it effectively. This is where professional vacation rental marketers come in.
Vacation rental marketers provide personalized services to hosts based on their properties and circumstances. They create targeted advertising campaigns to attract potential guests and utilize social media and other marketing channels to increase property visibility and generate more bookings.
Pros and Cons of becoming a vacation rental marketer
Pros:
- Minimal upfront investment is required.
- Moderate income potential.
- Freedom to set flexible working hours and arrangements.
Cons:
- Limited job opportunities.
- Need to have persuasive case studies and data.
- Require a reliable team to assist you.
Tips for being a successful vacation rental marketer
- Target audience segmentation: Understand the needs and preferences of your target audience and design marketing strategies specific to their requirements to attract them to book vacation accommodations.
- Creative promotion and marketing campaigns: Utilize various marketing channels and tools such as social media, websites, blogs, etc., to create appealing promotional materials and content that increase the exposure and attractiveness of vacation rentals.
- Optimize property information: Ensure that vacation rental information is accurate, detailed, and accompanied by attractive photos and descriptions to capture the interest of potential guests.
- Provide excellent customer service: Establish good communication and relationships with guests, promptly respond to their inquiries, and offer personalized suggestions and services to enhance customer satisfaction and reputation.
How much can you earn as a vacation rental marketer?
The specific income level can vary depending on the individual, but in busy tourist destinations, exceptional vacation rental marketers have the opportunity to earn significant income. As you gain more experience and build your client base, your income may gradually increase.
It is important to establish a good reputation and customer satisfaction to attract more clients and business opportunities. Additionally, maintaining a strong working relationship with hosts and ensuring the quality and maintenance of the properties will have a positive impact on your income.
Nowadays, making money through Airbnb is easier than ever before. Even if you have no prior experience with Airbnb, you can still earn a stable income through it as a side business.
However, it’s important to note that every choice comes with its pros and cons. You need to assess the advantages and disadvantages of each option based on your circumstances before making a decision.
In my opinion, just like any other industry, as long as you can provide professional services and are willing to work hard, you can earn money through Airbnb even without owning a property.
