Home Side Hustle Basics How to Start an Airbnb Side Hustle Without Owning Property
October 16, 2024
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NoShort-term property rental businesses are booming as an easy and lucrative side hustle for property owners. But just because you’re not on the property ladder doesn’t mean you can’t make money on Airbnb.
Thankfully, there are other ways to start an Airbnb business without owning a house. Below, we’ll explain them in detail and introduce alternative ways to make money on Airbnb for people without property.
Yes, you can start a profitable Airbnb business or side hustle without owning property. To start running an Airbnb, you must have access to a space you can legally rent out, whether that’s a house, cabin, studio apartment, single room, or another space.
Most hosts simply rent out a property they already own. Some purchase a new home for their Airbnb business. But these aren’t your only options for an Airbnb side hustle.
It’s also possible to start an Airbnb business without your own property through alternative strategies, like subletting your apartment or cohosting an Airbnb with a property owner. We’ll break down how these alternative methods work and what you need to do to get started.
You don’t need to own a house to become an Airbnb host. There are three ways to bypass property ownership completely.
As long as you’re already renting an apartment or house, you already have access to a potential Airbnb property. Airbnb doesn’t require hosts to be property owners, so it’s entirely possible to sign up for Airbnb as a host and rent out your own rental.
This subletting approach to vacation rentals is known as rental arbitrage. In this case, you have a long-term rental agreement with your landlord and you list the apartment for short-term rental on Airbnb for a higher price than what you’re currently paying.
Rest assured that rental arbitrage is legal. However, you may need to persuade your landlord to allow you to Airbnb your apartment. If your rental agreement specifies that subletting is not permitted and you list your apartment on Airbnb anyway without their approval, you risk getting evicted.
You should also research local laws and regulations to see if you’re even allowed to start an Airbnb. Some cities and jurisdictions impose restrictions for Airbnb businesses or require hosts to get a license or permit to run an Airbnb.
If your lease doesn’t explicitly prohibit you from listing the space on Airbnb, you’ve researched your legal obligations and liability, and you’re sure this is something you want to pursue, you can go ahead and rent an apartment on Airbnb that you’re already renting.
While not necessarily required, it’s a good idea to check with your landlord first to make sure everyone is on the same page and no conflicts arise.
The process of Airbnbing an apartment you’re renting is essentially the same as starting an Airbnb business with your own property. You’ll need to understand all the basics to renting on Airbnb and prepare the space for your guests to stay.
It’s important to do a deep clean and ensure that the space if properly equipped. If you’re renting out a spare room, you’ll need to furnish it.
Once the space is ready to host guests, sign up with Airbnb, create an account, and follow the instructions to list your rental property. Here are the main steps involved in creating a solid listing:
Do market research before setting your rental prices to ensure that you’ll be able to maximize your earning potential while staying competitive with local rates.
Your Airbnb business will only thrive if you’re a good host, so make sure to respond to your guests’ inquiries promptly, handle any issues they have during their stay, and check in to make sure their needs are met.
Another way to start an Airbnb if you don’t own property is to cohost with someone who does. This is the best way to start an Airbnb business without money since you won’t need to invest any of your own money in the property.
In terms of how cohosting works on Airbnb, the primary host will add you to their Airbnb listing as the cohost, and you’ll help manage the Airbnb. Your duties may just involve helping out with specific tasks, or you could take on the majority of host responsibilities. Typically, cohosts help communicate with guests and maintain the property.
You’ll negotiate your rates with the property owner based on the scope of services you’ll be providing. You can expect to get a cut of the revenue that the property generates through bookings.
The best part is that you don’t even necessarily need to know someone who already has a property to rent out. Airbnb allows you to sign up to be a cohost and connect with property owners who are looking for your services.
Your final option is to get financing to buy an Airbnb property. This may not be ideal if you don’t want to become a property owner. Nevertheless, Airbnb property investment may be an option worth pursuing if you want to start a proper Airbnb business but you don’t have your own house and you’re not sure where to start.
Unless you’re sitting on a huge pile of money already, you’ll need to get financing to buy your Airbnb property. You’ll also need to budget for all the expenses that come with buying a new home to rent out, like utilities, furniture, and insurance. These costs can really add up.
If you do decide to buy an Airbnb investment property, make sure to do plenty of market research to ensure you’re picking a property located in a high-demand area where your income potential will be enough to offset your startup costs and allow you to turn a profit.
This type of Airbnb side hustle is a pretty big gamble. Before taking the plunge into short-term rental property ownership, carefully consider all the risks involved and come up with a contingency plan in case your business doesn’t work out.
Hosting someone else’s property on Airbnb can be rewarding, but it isn’t your only option. Here are several other ways you can get in the Airbnb business without owning property.
Potential earnings: $20–$30 per hour.
What it is and how it works: As an Airbnb rental manager, you’ll operate one or more short-term rentals for property owners. Airbnb property managers are a lot like cohosts, except they usually have a lot more responsibilities. They essentially manage the entire Airbnb business in exchange for a cut of the profits.
You can expect to have any of the following duties:
Requirements: There aren’t any requirements for becoming a property or rental manager, although you can pursue relevant certification to become a Certified Property Manager (CPM) to enhance your career prospects.
How to get started: Research and obtain the required licenses. Review general job duties and familiarize yourself with useful property management software.
You can apply for jobs on online job boards or browse job openings with property management companies. If you’d like to work independently, you’ll need to market yourself and set up a website so potential clients can contact you.
Potential earnings: $30–$70 per hour.
What it is and how it works: An Airbnb consultant offers expert advice to Airbnb hosts on how to run their rental businesses more smoothly and maximize revenue. In this role, you may work with people who are already hosting on Airbnb or people who are looking to start an Airbnb business.
As an Airbnb consultant, you’ll provide guidance on all aspects of running an Airbnb business, including choosing suitable locations, optimizing listings, marketing properties, pricing each stay, streamlining operations, and improving guest satisfaction.
Requirements: To become a successful Airbnb consultant, you need to have extensive experience in Airbnb rental management. Since you don’t own property, this experience will likely come from being a cohost or property manager.
You should be knowledgeable about the short-term rental market and have strong analytical, marketing, and communication skills. You don’t need a degree or certification to be an Airbnb consultant. What matters most is having a proven track record of successfully managing several Airbnb properties.
How to get started: Before applying for jobs and marketing your services, put together a portfolio that showcases your best work as a property manager or cohost, including positive case studies, hard data, and excellent reviews. The toughest part is finding clients. To do that, you need to use advertising and marketing strategies and build your own website.
Potential earnings: $15–$30 per hour.
What it is and how it works: Airbnb cleaners provide cleaning services to Airbnb owners between guest stays, ensuring their rental properties are ready to host the next guest. Depending on where you live, this may be a seasonal job, peaking during the months when visitors frequent your area.
Requirements: In addition to exceptional cleaning skills, Airbnb cleaners need excellent time management skills. They must leave the property spotless within a certain timeframe, and they may sometimes be called in at the last minute.
How to get started: There are many places to find house cleaning jobs (general and Airbnb), including house cleaning agencies, online job boards, and cleaning apps like TaskRabbit or TIDY. You can also find cleaning jobs specifically for Airbnb by signing up with Turno, a platform that connects cleaners with vacation rental hosts, or by joining a local Facebook group for Airbnb hosts and cleaners.
Potential earnings: $50–$400 per job.
What it is and how it works: An Airbnb photographer takes photos of properties for hosts to use for their Airbnb listing. This is one of the many ways to make money as a photographer. The photos you take should capture the property in its best light and show its unique features so as to attract potential guests to make reservations.
Requirements: You don’t need a photography degree to be an Airbnb photographer, but you do need to master the basic photography techniques required for becoming a professional photographer. A background in real estate photography is helpful but not required.
How to get started: Create a portfolio of indoor and outdoor real estate photos and market yourself on social media. In addition to pitching to Airbnb hosts and property managers, connect with other photographers in this niche to exchange tips and expand your network.
Potential earnings: $25–$30 per hour.
What it is and how it works: As an Airbnb copywriter, you craft concise, eye-catching, optimized content for Airbnb owners, such as listing descriptions, profile bios, house manuals, and social media content. This is one fun way to make money writing.
Your main goal is to increase the visibility of Airbnb listings and attract guests. Good copywriting can turn potential guests into confirmed bookings. Since you’ll likely work as a freelance copywriter for various Airbnb hosts, you’ll have a flexible schedule and can work whenever and wherever you like.
Requirements: To be a successful Airbnb copywriter, you need excellent writing and editing skills as well as a strong understanding of search engine optimization (SEO) best practices, marketing and branding principles, and the Airbnb platform. You should have a knack for finding the right tone and words to hook potential guests and convince them to make a reservation.
How to get started: You can find copywriting jobs using freelancing platforms such as Upwork, Fiverr, and Freelancer.com. Create a freelancer profile that shows your specialization in copywriting for short-term rental property listings.
Make sure to showcase examples of copy you’ve written for an Airbnb listing, even if you need to make them up. Clients need to be able to see your writing skills so they know what you can do for them.
Potential earnings: Varies depending on location and the type of Airbnb experience.
What it is and how it works: An Airbnb Experiences host is someone who offers unique, memorable activities for travelers to take part in. They could be anything from boat rentals to cooking lessons or city tours. You don’t need to be an overnight Airbnb host to be an Airbnb Experiences host.
The activities should be something that a regular traveler can’t easily experience alone. For instance, if you’re an experienced winemaker, you could offer wine-tasting classes or take travelers on private vineyard tours.
Requirements: You must come up with an activity that meets Airbnb’s standards:
As a host of Airbnb Experiences, you should have excellent communication skills and be able to handle any emergencies that come up during the Experience. Depending on the type of activity you host, you may need to obtain a license or permit.
How to get started: To become an Airbnb Experiences host, you’ll need to sign up for Airbnb and create a listing, much like you would when hosting a property on Airbnb.
Although applications are open for new Airbnb Experiences hosts at the time of writing, they have closed new applications in the past, so check for updates before you sign up. Once you’ve listed your Airbnb Experience, promote it on social media to spread the word and attract travelers.
Potential earnings: Varies depending on market performance.
What it is and how it works: Invest in Airbnb stock to earn money from Airbnb even without being an Airbnb member. As an Airbnb stockholder, you own shares in Airbnb, Inc. and will be affected financially by its business performance.
You earn money when the stock appreciates and if the company pays dividends. However, investing is a gamble. While you can earn money this way, it’s not guaranteed. In fact, you could lose money by investing in Airbnb stock, so only invest what you’d be comfortable losing.
Requirements: You must be at least 18 years old to open a brokerage account and invest in stocks independently. You also need enough capital to purchase Airbnb shares. How much money you need depends on the stock price of Airbnb (ABNB) and the number of shares you want to purchase.
How to get started: Like the case with any investment-based side hustle, your first step should be doing your research before investing any money. Consider getting professional guidance on whether it’s a good time to invest in ABNB and whether it would align with your overall investment strategy.
If you don’t have a brokerage account, open one with a reputable firm. Ideally, the service should involve minimal fees, be user-friendly, offer free educational resources, and provide excellent customer service.
October 18, 2024
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