Across every corner of the world, the vacation rental industry is exploding, amassing billions of dollars in revenue and featuring millions of unique short-term and vacation rental properties. Leading the charge is Airbnb. And with it, many investors and property owners are now tapping into this massive goldmine of Airbnb profits.
But what if you're not an owner or investor? If you want to make money on a rental business without owning a house, the experts at The Short Term Shop can help you find the most lucrative, tourist-friendly cities and regions for Airbnb rental homes.
If you want to make money off of Airbnb property, whether in the weekend or short-term rental market, you certainly can!
Here's how to be an Airbnb host without owning property in 2023.
Don't Own a Short-Term Rental? Make Yourself a Property Manager!
To make money off of Airbnb without owning property, you can always become a property manager. Many owners and property investors need property managers for their short-term rental business. After all, many of these owners want their investments to be sources of passive income.
This is where you, the property manager, can come in and help with the Airbnb business. You can handle the various daily responsibilities and duties associated with maintaining short-term rentals and ensuring the best Airbnb experience for guests.
Main Responsibilities of a Vacation Rental Industry Property Manager
The investor or owner may depend on you to streamline the entire process from the initial booking to cleaning up after guests leave and preparing for new guests. In other words, your actions will directly impact how well the investor's financial investment can generate money.
Property Management Responsibilities
- Addressing investors' concerns
- Handling Airbnb bookings
- Tenant and guest communication
- Facilitating check-ins and check-outs
- Advertising and marketing
- Conducting routine property inspections
- Maintaining and cleaning the Airbnb property
Just remember, property managers vary by state and area. In some cases, property managers may have to hold a real estate license or property manager's license. If you're serious about helping Airbnb business owners through property management, you should consider a license.
The Pros & Cons of Managing Vacation Rentals for Property Owners
When you're managing short-term or vacation rental sites for property investors, you need to be open to change. While you won't have to worry about financing a property, you will have to adapt to fluctuating work hours.
Know Your Area's Licensing Requirements
Depending on the area where the short-term rental properties are located, you may have to go back to school to obtain licensing and/or certification. Short-term rental managers can benefit greatly from this education, especially when managing multiple rentals.
From overseeing an Airbnb cleaning service for multiple properties to confirming bookings, communicating with guests, and addressing maintenance issues, your plate will likely be full! Nonetheless, you can certainly make a decent living being a short-term rental manager.
Rent Out Airbnb Property Through Airbnb Rental Arbitrage
Airbnb arbitrage entails subletting a property through the vacation rental industry. In this business model, you rent a place from the landlord and then list it on sites like Airbnb, competing with other Airbnb hosts. Just make sure you tell your landlord first and have the legal right in your area to do this.
Always Be Careful About the Airbnb Rental Arbitrage Route
Many traditional leases do not permit tenants to make money on Airbnb through the rental arbitrage model. Additionally, numerous cities now have local laws and regulations prohibiting the rental arbitrage business model. Making money off of subletting may be impossible in certain areas.
But don't give up. If you are allowed to list your rented accommodation on Airbnb, you may find this business strategy effective. At the very least, it can make a nice side hustle! Do your market research and consult local rental experts before you engage in rental arbitrage.
Start Co-Hosting Properties for Consistent Airbnb Income
If you're still wondering how to start an Airbnb business without owning a house, co-hosting may be the answer. For an Airbnb host, co-hosts are like indispensable assistants. As a co-host, you'll take on the same kind of responsibilities, from confirming direct bookings to meeting guests, supervising stays, inspecting property grounds, cleaning and restocking, and more.
Although not always a full-time job, you can expect to make 10% to 20% of the annual earnings from a given rental. If your goal is making money on Airbnb without owning any properties, becoming a co-host is a viable option.
Especially in a landlord-friendly area!
Advantages and Disadvantages of Being an Airbnb Co-Host
As co-host, you'll have to be mindful of the expenses involved with cleaning, stocking, and maintaining the property. From standard cleaning costs to replenishing necessary items, and other business-related expenses, you'll need to keep track, so the property owner is aware.
Generally, your hours will be flexible and you won't have to complete any training or education for a business license. You will, however, make a smaller percentage from the rent compared to the host. This may affect the consistency and predictability of your income.
That said, being a co-host can be a fun, engaging way to make money.
Market Your Consulting Skills to the Vacation Rental Industry
If you want to know how to start an Airbnb without owning property, Airbnb consulting is one avenue you can take. Through your own marketing, word of mouth, and industry networks, you can sell your marketing skills to interested owners and investors.
You can also help other hosts and co-hosts upsell services that guests love.
Help Hosts Provide Airbnb Upsell Services
As a consultant, you may urge hosts to provide premium services such as early check-ins, local tours or guides, complementary foods, personal hygiene kits, transportation, and more.
Just make sure you have ample experience! Consulting involves applying your expertise to help hosts increase their booking rates, boost Airbnb rankings and ratings, diversify their rental portfolios, and maximize their earnings.
Carve your niche and find the type of vacation rental properties perfect for your services.
If you'd like to learn how to start an Airbnb business without owning a house, try Airbnb consulting.
Pros & Cons of Airbnb Consultation Services
As an Airbnb consultant, you have a lot of freedom. You can advertise your services on the freelance marketplace and establish your brand clearly and uniquely. You also won't have to stress over the traditional starting costs associated with Airbnb renting.
After all, you're not the one purchasing your own property and you're not the one hosting it!
If You're Self-Motivated, Airbnb Consulting is Perfect for You
That said, you will have to work hard to market yourself and grow your reputation. You'll also need to be extremely intrinsically motivated, as this type of job can require long or atypical hours. The good news is, it can be quite rewarding. The average salary for consultants is over $60,000 per year.
You can even further leverage your consulting skills to buy your own property - sometimes with no money.
Make Money with an Established Vacation Rental Franchise
Rather than spending the hours, money, and effort growing your personal brand and business, you can always align with an established franchise. For a franchise fee, you can receive a license to use all the tools and resources at your disposal. With the help of a high-powered brand, you can quickly scale your Airbnb business.
Nothing beats having the best trademarks, knowledge, technology, and procedures at your fingertips!
Why an Airbnb Franchise May Be Right (Or Wrong) For You
Under a franchise, you'll receive top-notch training and support to position you for a successful future. In turn, you'll be able to engage in all levels of property management. This entails complex processes of cleaning interiors and exteriors, managing structural repairs, addressing utility and appliance concerns, handling issues related to furnishings and features, managing guest communications and stays, and more.
However, as a franchisee, you'll be held to certain franchise standards and guidelines. You may be charged additional fees, and you'll be locked into a contract for a period of years. Nonetheless, being an Airbnb franchisee can be quite profitable, with some franchisees easily making $100,000 per year.
Offer Airbnb Cleaning Services for Multiple Properties
Every investor wants to preserve his or her real estate investment. This is why an Airbnb cleaning service company can be so lucrative. Hosts typically outsource cleaning, so as a professional service provider, you can be busy all the time. Depending on the state, you may be required to get insurance and licensing.
Typical Airbnb Cleaning Service Expenses
- Buying cleaning products
- Buying/repairing equipment
- Costs of labor
- Costs of marketing/advertising
Self-employed cleaners usually charge $25 per hour, with larger, more esteemed cleaning teams making over $7,000 per cleaner every month. Given the number of properties cleaned, the professionalism of the services, and the clientele, some cleaning companies gross six figures per month! If you want to know how to make money on Airbnb without owning property, this is a great way.
Provide Vacation Rental Marketing Services
In today's age of heavily saturated social media and websites, it's important to stand out. If you can introduce a top-notch marketing strategy, with SEO and social media services, you can significantly boost rental success.
Create an Airbnb Marketing Strategy for Success
Through email chains, social media platform posts, fresh content, blogs, website development, and various ways of generating and converting leads, you can sell yourself as a professional Airbnb rental marketer.
The best part of being a marketer is you have very low costs and can work remotely! The downside is that you'll need to have some serious technical skills and a group of similarly talented individuals to assist you. If you can meet and exceed these requirements, you can routinely make $70,000 annually.
Go Freelance and Be an Airbnb Copywriter or Photographer
Freelancers are big right now, especially in the remote, digital age. If you're a talented writer, consider offering copywriting services for Airbnb hosts. Provide interesting titles, engage guests with captivating descriptions, and capture the Airbnb experience in general. You can also help detail any rental rules or conditions.
If you're an Airbnb photographer, become a freelance marketplace listing photographer, or apply with Airbnb directly through the website. Just make sure you have a firm understanding of photographing interiors.
Enjoy Freedom with Airbnb Freelancing Jobs
The great thing about freelancing as a writer or photographer is the flexibility of the hours. The downside is you have to be a proficient self-marketer and sufficiently self-motivated. If you're an Airbnb photographer, purchasing and maintaining professional equipment may be costly.
Aside from that, there's good money to be made in Airbnb copywriting and photography!
Advertise your services on sites like Fiverr or Upwork.
Start Your 2023 Airbnb Business Without Owning Property
If you're wondering how to start an Airbnb business without owning a house, you have numerous options. But only if you play it smart. With the hottest vacation rental markets in the country, you can easily make a strong, reliable income, guest after guest.
Don't want to deal with the hassles of ownership or the long-term rental market? Looking for incisive market data that will propel your income streams to the next level while streamlining the entire process?
Whether you want to co-host, photograph, manage properties, consult, join a franchise, or anything else, you can do it without ever owning a single piece of real estate.
If you want to start an Airbnb business, the path forward with a property has been carved out by the thousands of other property owners already in the game! To discover premier Airbnb locations and Airbnb rentals, call The Short Term Shop today. Making money just got easier.