How to Make Money on Airbnb without Owning Property

Airbnb is no longer just for property owners. The platform offers tons of opportunities for anyone looking to make money in the vacation rental industry without having their own space. From rental arbitrage and co-hosting to photography and offering experiences, there's a path for everyone. 

In this blog, we’ll dive into seven practical ways you can get started, offering expert insights and tips from industry leaders like Kyle Loveland, Managing Partner at Dreamspace and Hostaway’s Solutions Engineer.

Can You Make Cash on Airbnb Without Owning a Place?

The rise in vacation rental popularity is mainly fueled by the desire for cozy, personalized stays.

Platforms like Airbnb give enough opportunities for new entrants to make money even without owning property.

In the US alone, the vacation rental industry’s total revenue is estimated to reach $20.7 billion with a roughly 4.10% year-over-year vacation rental market growth rate — the industry will be close to $24.78 billion in 2029.

7 Creative Strategies to Make Money on Airbnb Without Owning Property

1. Airbnb rental arbitrage

Source:  https://fourweekmba.com/airbnb-arbitrage-2/

Airbnb rental arbitrage involves renting a property from a landlord and listing it on Airbnb for a higher price. It’s a strategy that lets you play the middleman, earning the difference between long-term rental rates and short-term rental income.

How to get started:

Research

Before diving in, research your local market with tools like AirDNA to get insights into occupancy rates and pricing trends.

As Kyle shared in the — Make Money in Short-Term Rentals Without Owning Property, "Look at occupancy rates and revenue potential in your area. You want to find properties where you can pull in enough on Airbnb to comfortably cover the rent and make a profit."

Convince the landlord

This is where it can get tricky. You need to pitch the idea to the landlord and get them on board with subletting the property. As Kyle put it, "The hardest part is getting the landlord to agree to let you run the property as an Airbnb. You need to build trust and show them how it benefits both sides."

Setting up

Once approved, set up the property with your target guests in mind. Choose durable furnishings since vacation rentals get a lot of wear and tear. Then, create an attractive Airbnb listing with high-quality photos to capture attention.

How much can you earn?

The earning potential depends on your location and how well you manage the property. If done right, you can earn up to three times your expenses. Aim for a property that can make profits of at least $2k per month after all expenses. Top markets for rental arbitrage include Charleston, Providence, Jacksonville and Nashville.

Source: https://www.airdna.co/blog/airbnb-rental-arbitrage 

2. Short-term rental property management

If you're great at managing people and logistics, becoming a short-term rental property manager could be a perfect fit. You handle everything for property owners — from guest check-ins to cleaning schedules — and collect a fee for your services.

Common tasks for property managers:

• Coordinating check-ins and check-outs

• Managing cleaning crews

• Handling guest communication

• Pricing and revenue management

• Overseeing repairs and maintenance

How much can you earn?

According to Glassdoor, vacation rental property managers in the U.S. make around $51,904 per year, with bonuses bumping it up to about $60,996 annually. Not bad for managing a few properties, right?

3. Co-hosting

Co-hosting is a great entry point into Airbnb without the full responsibility of being a property manager. As a co-host, you help the main host run their Airbnb, taking on tasks like communication and cleaning coordination.

What do co-hosts do?

• Respond to booking inquiries

• Handle cleaning and maintenance

• Communicate with guests

• Assist with check-ins and check-outs

• Write guest reviews

How much can you make?

Co-hosts usually make 10-20% per booking. If you’re managing an Airbnb that brings in $30,000 a year, you could pocket around $3,000-$6,000. If you take on more responsibilities, you might bump that up to 25%.

4. Starting an Airbnb cleaning business

Everyone wants a clean space and cleaning is one of the first things Airbnb hosts outsource. That makes starting an Airbnb cleaning business a fantastic way to tap into this market.

Research what local cleaning companies are charging and understand the standards for Airbnb cleaning. Make sure you check for any licensing or insurance requirements in your state. Once you’ve got everything lined up, focus on delivering top-notch service, because reliability is everything in this business.

How much can you make?

In the U.S., Airbnb cleaners make about $19.79 per hour — that’s 39% more than average cleaning gigs. If you’re self-employed, aim for at least $25 per hour. Monthly earnings can range from $1,425 to $5,917, depending on how many properties you take on. It can be pretty lucrative if you manage it well.

5. Hosting an Airbnb Experience

Do you have a unique skill or hobby you’d love to share? Airbnb Experiences lets you make money by offering activities or tours to guests. From cooking classes to guided hikes, the options are endless.

Think about what makes your area special and what you enjoy doing. Whether it’s a nature walk or a photography tour, create an engaging description and take some great photos for your listing.

Plus, set a fair price based on local rates and make sure you have all the necessary materials to deliver the experience.

How much can you earn?

You can earn between $25 to $150 per guest, depending on the type of experience you offer. Since 2020, some hosts have made over $20,000 by offering virtual experiences, showcasing the potential for significant earnings.

6. Becoming an Airbnb photographer

Airbnb listings with great photos tend to perform better and hosts are often willing to pay good money for a talented photographer.

Kyle even shared how professional photos improved the performance of his property, Octopus Cottage, on Airbnb.  So, if you’re good with a camera, this is a side hustle with serious potential.

Airbnb photography isn’t just about making a property look good. It’s about capturing what makes it special. By refining this skill, you can attract clients who want to upgrade their listings or add new properties.

How much can you earn?

Photographers typically charge anywhere from $25 to $68 per hour and depending on the demand in your area, you could bring in around $50,000 a year. As Kyle notes, “A good photo can make or break a booking. It’s one of the best investments a host can make.”

7. Join a vacation rental franchise

If you like the idea of running a vacation rental business but don’t want to start from scratch, consider joining a vacation rental franchise. This way, you get the support of an established brand, training and marketing assistance, while you focus on managing properties.

Look for a franchise with a solid reputation and a support system in place. This will give you a head start, especially if you’re new to the business.

How much can you earn?

Earnings can vary depending on the franchise and the market, but the potential is high — especially as you expand your portfolio of managed properties.

Embrace Your Potential

There’s more than one way to make money on Airbnb without owning property. Whether you choose rental arbitrage, co-hosting or running a cleaning business, the opportunities are endless.

As Kyle advised, “Find your niche, focus on it and double down.” By doing the research and finding what works best for you, you can build a successful income stream in the growing vacation rental industry.

FAQs

1. Is rental arbitrage legal?

Rental arbitrage is legal in most places, but you’ll need to make sure you get the landlord’s approval and check your local laws. The last thing you want is to get started and find out it’s not allowed in your area.

2. How do I convince a landlord to let me sublet their property on Airbnb?

It’s all about building trust. Be transparent with your plans and show them how it’s a win-win situation. You can explain how keeping the property well-maintained for short-term guests is in their best interest.

3. Do I need a license to manage short-term rentals?

This one depends on where you live. Some states might require you to have a property management or real estate license. It’s worth looking into your local regulations before diving into property management.

4. Is starting an Airbnb cleaning business worth it?

Cleaning is one of the most outsourced tasks for Airbnb hosts. With the right pricing and a reliable service, you could make anywhere from $1,425 to $5,917 a month, depending on how many properties you clean. Plus, if you’re running your own show, you can set your rates and scale your business.