No matter your experience level in the industry or if you’re just starting out, starting an airbnb business without owning property can be done easily. There are multiple ways to generate income from Airbnb without investing any money down, including co-hosting and becoming an Airbnb consultant.
How to Start an Airbnb Business Without Money
One of the simplest and most lucrative ways to make money with Airbnb is by renting out a vacant home or apartment. All you need to do is locate landlords who are interested in renting their property, then ask if they’d prefer running it as an Airbnb instead of traditional long-term rentals. This method works great if your landlord already has some spare capacity!
To be successful with this strategy, you need the necessary tools to make an offer that will earn your landlord more money than traditional long-term rentals. This may include creating an Airbnb host checklist, taking beautiful pictures and obtaining a listing on the platform.
To guarantee you don’t make any costly errors, do some market research prior to investing in a property. This will give you an accurate estimation of how much profit can be made from an Airbnb investment and allow you to identify which areas are likely the most lucrative.
Finding the Right Location
Another profitable way to make money with Airbnb is by finding properties in high tourist-activity areas. These places usually have more bookings throughout the year and can usually command higher prices during certain peak season periods.
Once you’ve located a venue that meets the needs of your guests, it’s time to set up your business. This includes creating a legal entity and hiring key members such as real estate agent, bookkeeper, interior designer, photographer and general contractor.
Investing in multiple properties can take a considerable amount of time and energy, but the money you can make from Airbnb is certainly worth the effort.
How to Make a Living with Airbnb by Co-Hosting
A co-host is an internal Airbnb property manager for your listings and their guests. They take care of the day-to-day tasks associated with maintaining the listing, handling guest issues, marketing your listings and taking reservations – in short: everything that requires human interaction! They can also be an invaluable resource when it comes to marketing your listings or managing reservations.
Making a Living With Airbnb by Becoming an Airbnb Consultant
If you possess the skills and experience necessary to be an Airbnb consultant, this could be a lucrative career path. Consulting can take place face-to-face or virtually, with hosts looking to boost their listings, ratings, and booking rates on Airbnb.com.
Your services could range from encouraging hosts to offer premium amenities such as early check-ins, local tours and guides, complimentary foods, personal hygiene kits and transportation; to helping them diversify their rental portfolios. As an Airbnb consultant you can leverage your industry networks and marketing expertise to generate income through referrals and word of mouth advertising.