If you have a spare room or property, listing it on Airbnb is an easy way to make extra money. But what if you don’t have any property to rent out? Don’t worry, there are still several ways to make money from Airbnb without owning any property!
Airbnb has changed the rental market in many cities worldwide, and you can get in on this multi-billion dollar business as a side hustle or even a full-time job. Here are three top ways (plus a bonus way!) to earn money with Airbnb.
**Airbnb Experiences**
Airbnb is famous for short-term property rentals, but did you know they also offer Airbnb Experiences? Launched in 2017, these are activities hosted by locals in their hometowns. Common activities include walking tours, cooking classes, and craft workshops, but the possibilities are endless!
Experiences let visitors see your city like a local or learn something new, such as a surf lesson or an art class. If you have specialized knowledge, like local history or a regional craft, you can share it through an Airbnb Experience. Even without special skills, you can offer experiences based on your interests, like a culinary tour of hidden food spots.
You set your own schedule, making this a flexible side hustle. You don’t need to host guests in your home unless you want to, like for a cooking class or dinner.
**Airbnb Property Management Service**
Many people list their property on Airbnb but don’t want the hassle of managing it. You can step in and offer Airbnb management services, helping them out while making good money. You can specialize in one task or offer a complete management service, even subcontracting tasks if needed.
Some tasks require you to be local, but many can be done remotely as a Virtual Assistant. Here are some services you can offer:
– Co-host: Manage bookings, message guests, and handle the calendar remotely.
– Cleaning: Offer fast turnaround cleaning with special touches like luxury toiletries.
– Create welcome guides: Provide useful information about the property and area.
– Other tasks: Meet guests for check-in/out, property maintenance, schedule cleaners, write listings, take photos, restock supplies, laundry, interior design, and translation services.
**Airbnb Rental Arbitrage**
Rental arbitrage involves renting a property from a landlord and listing it on Airbnb for a higher fee. This option is riskier but can be very profitable. It’s legal, but you must check with your landlord, mortgage provider, and insurance provider.
Always be upfront with your landlord about your plans. If you struggle to find a willing landlord, consider offering a profit share agreement. Research thoroughly to ensure high demand for rentals in your area and consider targeting long-term rentals to minimize empty dates.
**Bonus: Refer Friends**
Sign up for Airbnb as a host or guest, and you’ll get a unique referral link to share with friends. For every person who completes a stay, you’ll get £15 credit, and for every experience completed, you’ll get £8. Your friend will also get up to £34 off their first trip. This is a great way to earn travel credit if you’re a frequent traveler.
**Have a Room to Rent Out?**
If you have a spare room or property, you can make even more money. Use the Airbnb calculator to see how much you could earn. Even a single place to sleep in a shared room, like a sofa bed, can earn you almost £500 a month in London.
Have you earned money on Airbnb? Share your experience in the comments below. Would you try any of the ideas in this article?