If you think it’s impossible to make money on Airbnb without owning property, our personal experience will convince you otherwise.
In fact, we’ve made a lot of money on Airbnb without owning property.
And it’s a lot easier than you think.
In this post, we’ll share the Airbnb business model basics that took us 3 months to go from $0 to $10,000 per month profit. We’ll also share 5 alternative Airbnb income streams that you can use to start making money from Airbnb TODAY. All without owning any of your own property.
The truth is there are a lot of ways to make Airbnb profit with none of your own property. We are going to share the most lucrative model for you. The model you can use to build passive income quickly and quit your job. But don’t forget to read to the end of this post to see the abundance of opportunities out there to make good money from Airbnb.
Before we get into the how, lets look at what it means to make money hosting on Airbnb without owning property. We’ll also run through why property investors would want to partner with you, and how much moolah you can make with this Airbnb strategy.
What is hosting on Airbnb without owning property?
It’s just partnering with other property investors to list their properties on Airbnb, with their permission, so that you can arbitrage the rental income. It’s entirely legal if you do it with the right arrangements in place.
If you’re keen to learn more what rental arbitrage is and how we made it work for us, check out this article “Can you really make money from rental arbitrage“.
Essentially, rental arbitrage is where you take out a rental lease on a property as a tenant. The rental agreement must include that the owner/landlord agrees that you’re going to list the property on Airbnb.
Then you set up the property as an Airbnb listing – which means all furniture, styling, appliances, linen, kitchenware and so on comes out of your pocket. Once it’s all set up, you list the property on Airbnb and manage the entire thing – online listing, property operation, and Airbnb income.
You pay the rent, the power, the water, the WiFi bill and cover basic maintenance costs.
Each month, you need to make more money in Airbnb bookings than your cost of rent and your operating costs. This is your profit at the end of the month and what some folks call ‘rental arbitrage’. And, it is entirely possible to turn this into passive income if you know the systems to use.
Why would property investors agree to you listing their property on Airbnb?
We’ve been landlords to long-term tenants. The truth of our experience was that neither the tenant nor our property manager gave a toss about looking after our investment asset. 5 years after a complete internal renovation, our properties were looking tired and old again from a lack of care. This simply can’t happen when a property is listed on Airbnb.
A property on Airbnb MUST be keep in great condition or it just won’t get bookings. So owners know it will be cleaned multiple times a week and that you’ll take care of maintenance costs for them. If the property doesn’t get booked, you don’t make money.
You should also take out short term rental insurance and show this to the property owner. This will give them peace of mind that if anything goes wrong your insurance will cover it not theirs.
Can you make money with this Airbnb strategy?
The answer to that one is a big yes! You can make a flood of passive income listing other peoples properties on Airbnb – if you do it right!
We’ve done it with three properties. We made $10,000 PROFIT in a month listing these three properties below that we didn’t own. You can read more about it here.
Hosting other people’s properties on Airbnb is truly one of the lowest cost, highest cashflow income opportunities we’ve come across in all of our financial education and money making endeavours. And did we mention it’s one of the best passive income ideas out there.
Check out this post where we reveal how much we made in one month with this single property that we didn’t own – the full cost, revenue and profit figures are all laid out for you..
And check out this case study that shows the full income, expenses and profits from one of our rental arbitrage properties.
So how do you get started?
We started by learning how to do it from the experts and you should too.
Why? Because you want to make sure what you do works! You need to know the following before you leap:
- what sort of properties to look for,
- how to find and pitch property investor partners,
- what legal agreements to put in place,
- why its important NOT spend too much money setting up your listing,
- an insight into the Airbnb algorithm,
- how to guarantee immediate bookings,
- how to fill your calendar from day one.
We followed a step by step formula and within 4 months we had paid back the set up costs and we were making a cool profit of $4000 per month on average. In month six, we turned a $10,000 profit in one month across the three properties. That was peak season Airbnb profit AFTER all operating costs and rent. Made bank peeps. Fat stacks of passive income in our pocket.
If you want to get started making sweet cash and being your own boss, we’d recommend taking up this opportunity to learn from the best. It’s an online course called the Bnb Formula. You’ll get the literal step by step formula to follow, with training, templates, tools, landlord pitches, legal info and a bunch of bonus – all done for you. This training is gold and works just about anywhere in the world – the steps are the same!
If you don’t want to shell out for a course just yet, then bookmark our Host Hub page. This is where we’ll be launching our upcoming eBook series “Making money with Airbnb“. The series will cover how to make money on Airbnb without owning property.
We’re Airbnb Superhosts of multiple properties and we know what it takes to run a successful Airbnb listing. You’re essentially a mini hotel, which means you need to take care of a lot of the same stuff that hotels take care of for their guests.
A beautiful place to stay and relax, cleaning, linen, maintenance.
Check in, check out, local information services.
Gifts on arrival, instructions for how to use the home and all its gadgets and appliances…
These are some of the things that Airbnb guests expect in 2021 when they book your listing. But they also create a killer opportunity to make money from Airbnb, without owning investment property.
You see, because of the growing expectations of Airbnb guests a whole ecosystem of service providers has popped up around Airbnb stays. Services to Airbnb hosts and owners that either can’t or don’t want to manage all of their Airbnb hosting tasks on their own.
We use multiple service providers to help run our Airbnbs and still find there are gaps in finding all of the services and the quality that we need – particularly in regional areas.
These services are also important because the little known fact is that many Airbnb hosts run their listings remotely and rely on other people and apps to help them.
So let’s run through the opportunities that you can take advantage of TODAY to make a nice side income from Airbnb or even turn it into your full time employment.
All with zero property to your name…
Here’s our top 5 ways to make money on Airbnb without hosting any property
- Bundled cleaning and linen services
- Maintenance services
- Concierge services
- Cohosting services
- Property Management services
#1 – Bundled cleaning and linen services
It’s no secret Airbnbs require cleaning between each guest. You’d think it would be easy therefore to go online and find a cleaner from the many businesses and websites advertising. But it’s not. Why? Because Airbnb hosts need cleaners that also do linen. This is a gap in the market for anyone looking to start up a side hustle or business.
Good Airbnb bundled cleaning and linen services are hard to find, particularly in regional areas. That means an opportunity for you to be self employed and to make money from Airbnb.
#2 – Maintenance services
We hire a maintenance guy to look after our yards, gardens and any small maintenance jobs in our Airbnbs. These can be things like changing light bulbs, re-attaching fittings, small repairs, and smoke alarm testing. The same guy does our lawns, waters plants, empties the trash and keeps outdoor areas tidy. If you’re the outdoors type this can be pretty easy work to do and with a going rate of $30 – $50 per hour it pays well too.
#3 – Concierge services
This is when you become the eyes and ears ‘on the ground’ for Airbnb hosts that manage their listings remotely. An Airbnb concierge would take care of tasks like random cleaning inspections, stock inventories (toiletries, linen, kitchenware, any pantry supplies), inventory replenishing and back up cleaning. They would also handle problems with lost keys and guests unable to check or use an appliance at the property like WiFi.
#4 – Cohosting services
Cohosting services involve managing the ONLINE part of running on Airbnb. So your target market is perhaps the non ‘tech savvy’ Airbnb host or the side hustle Airbnb host.
Your job would be to manage the online listing so that it is well booked. Making sure the listing appears on the first page of Airbnb guest searches. Airbnb has an algorithm with requirements that each listing must meet to appear at the top of property searches. You’d need to know what these requirements are and meet them.
Daily tasks might be managing guest communications, making sure the listing details are up to date, that the calendar and pricing are up to date and that you’re doing everything you can to hack the Airbnb algorithm.
Co-hosting can even extend to managing the rental income and doing the books (income and expenses for tax time) for the Airbnb host, depending on your skill set.
The best thing about this job is that you could do it virtually, from anywhere. So you’re like a virtual assistant for busy Airbnb hosts and you can take on and cohost properties anywhere in the world. Airbnb provides the separate login access for co-hosts that provide these kinds of services.
#5 – Property Management services
Property management services are just that. Providing an entire A to Z property management coordination for the busy Airbnb Host. It would include managing the listing online and coordinating all services needed to run the Airbnb – cleaning, linen, trades and inventory etc.
In Australia, this requires a real estate license, but the fees you can charge are about double that of managing long term rentals. The secret is that a lot of the coordinating of Airbnb ecosystem services can now be automated with apps. If you know how to do this then providing property management services to Airbnb hosts can be quite lucrative.
Where to find Airbnb side hustle income streams
If you want to set up a side hustle Airbnb income, you’re going to need to advertise your services somewhere Airbnb hosts will be looking for them.
If you’re looking to provide cleaning, linen, maintenance or concierge services we’d recommend jumping onto Facebook and searching for Airbnb forums. There are tonnes of Airbnb host communities online and many start with Facebook. You could also advertise in Oz on Gumtree or Oneflare for your local area.
If you’re offering cohosting services you can advertise on popular online platforms. Airtasker is popular in Australia, but great a site to use is Fiverr where you can offer both VA and cohosting services.
If you want to make a full time income from Airbnb Property Management it’s probably best to start with your own website and Facebook page.
So Airbnb side hustler wannabes, there’s plenty of opportunity around to make awesome money with Airbnb. And it’s only going to get better with Airbnb bookings forecast to grow in 2021 and 2022. It’s time to get your share of the wall of money that’s coming as countries open up and get back to the business of travelling and having fun!
Next steps for your Airbnb learning
Firstly, this Bnb formula online training can help you get started with hosting other people’s properties.
Secondly, here are some of our best articles on how to make money on AIrbnb:
- How to manage Airbnb properties for other people
- Make money on Airbnb without owning property – $6400 in one month with this apartment
- Can you really make money with rental arbitrage?
- How to start an Airbnb in a pandemic
Thirdly, bookmark out Host Hub and watch out for our new eBook series “Make money with Airbnb”. Check out our other Airbnb articles in the Host Hub for more gems like this!
Or lastly, get going on Fiverr offering your services to Airbnb hosts.
If we can make money without our own property on Airbnb, anyone can!
Until next post, have fun, be happy and do good!
And don’t forget financial freedom seekers, if you dig our content, please share the love!
