Do you want to hear something interesting? One doesn’t need much to start an Airbnb business. In truth, most people in the industry are not property owners. If you want to gain footing in the homestay experience space, your considerations must include your pricing plan, management, and, most importantly, guest satisfaction.
As you’ll discover throughout this article, navigating Airbnb doesn’t have to be through murky waters. Your wit, skillset, and internet connection are all you need to achieve great success in this space. Being interactive also helps, so you might want to hone your people skills.
What Is Airbnb?
Over time, making money online has evolved into a sweet spot for millions across the globe. Online gigs could be your primary revenue stream or supplement your main income. Anything that gets you that extra coin is fantastic, as everyone will agree.
Airbnb is a short-term online rental platform where you can list a property, rent it out, and make money. Sounds easy, doesn’t it? And since you’ll be online anyway, you could boost your passive income by signing up on Pawns.app, a platform that offers you money for shared internet and survey answers.
5 Ways to Start an Airbnb With No Money
The beauty of making money online is that it requires little to no monetary investment. Armed with a solid device, a stable internet connection, and your honed talent and skillset, you’re good to go. Let’s see how that works with Airbnb.
#1) Becoming a Property Manager
Admittedly, property owners earn the most money on the Airbnb platform. That said, a property manager doesn’t need to own a place to make money from it. Managers often have a website that attracts property owners hoping to save time on the necessary but time-consuming duties of transforming their homes into guest-worthy spaces.
If selling clients on suitable vacation spaces is your area of expertise, you’re in luck. With virtually zero spending, all you need to do is seek property owners, convince them why you’re the best person for the job, and boom, you’re in.
What’s more, your income as a property manager is entirely up to you because it boils down to the rates you decide to charge visitors. Of course, the amount depends on the area and amenities you offer, but what you make could range from 10% to 40% of the rent paid to the property owner, depending on your agreed percentage share.
#2) Using Your Own Vacant Property
Suppose you own some rental space that’s just lying unused. With Airbnb, you could very well be ahead of the game! All you need is to create a profile on the platform, list your property, and voilà! Here comes an extra revenue stream. Of course, the marketing tools Airbnb offers make it easier to promote your rental space.
If you want to start renting out without making any investments, all you have to do is tidy up the surroundings, take some lovely pictures, prepare your Airbnb host checklist, and post your listing. Also, be honest about what your space offers and manage your visitors’ expectations. It is better to underpromise and overdeliver than do the opposite. Remember that when listing, you must also consider the kind of visitor who will value your space the most.
#3) Taking the Initiative on Open Rentals in Your Area
If you are business savvy, you would have noticed rental signs around your residential area. Truth be told, these pieces of property might strike gold at your behest as this is a ripe business opportunity, ready for harvest.
As soon as you’re ready, ask the property’s owner whether they would like to offer the space as a short-term homestay rental. It may be an idea they have been toying around with but didn’t have the wherewithal to start. To persuade them, offer to bear this burden by advertising the property on Airbnb to earn them extra money. Be sure to convince them that short-term stays could make more than long-term tenancies. Once they are on board, you’ll be smiling all the way to the bank.
#4) Becoming an Affiliate
An affiliate is an individual who earns from referring others to a platform. Lucky for you, Airbnb offers an affiliate program that pays people who refer others to the site. Introduce your friends and relatives to Airbnb and assist them in creating an account and making their first booking.
By so doing, you get an enviable commission, especially if they then spread the word that you were the one who brought them to the site and share your link with others.
Many members who profit from this scheme do so by sending a tailored affiliate link to a huge number of people. This promotion can be done safely and lawfully, for example, by posting the link on various online platforms. Don’t be the person constantly spamming your link on social media – that will just put people off.
#5) Offering an Airbnb Experience
Airbnb Experiences are the simplest and quickest way to earn from the platform without investment. These are premium local tours and one-of-a-kind experiences offered in multiple locations worldwide, including site visits, yoga classes, pub crawls, wine tastings, serene photoshoots, and so on.
Suppose you know of activities in your region that visitors might be eager to book on arrival. In that case, you can create a free Airbnb Experiences account and begin marketing immediately. As a host, you get to enjoy your locality with guests from across the world, profit from it, and appreciate your surroundings even more.
FAQ
Is it worth it to be an Airbnb host?
Being an Airbnb host is undoubtedly worthwhile. When you set up your business correctly, acquire a property with a healthy yield and delight visitors. Things will take off, and you will have a solid reputation for offering top-notch services.
Is it hard to start an Airbnb business?
Making money on the site is typically simpler if you own property. Nevertheless, not being a homeowner doesn’t hinder you from making good money on the platform, as explained here. There is a reason the site has over 5.6 million active listings worldwide.
