Listing your house or a room on Airbnb can be quite profitable, provided you don’t mind having strangers in your space. But many people choose not to have this type of side hustle due to safety, security, privacy or other reasons.
One homeowner spends a few days a month traveling, but prefers not to rent out their place while they’re away. Imagine their shock when they returned home to find an unknown couple in their guest room, suitcases and all. Upon investigation, it emerged that the room had been listed on Airbnb for $89 a night and already had 14 reviews.
Imagine returning home from a trip to find two strangers in your guest room
cottonbro studio/Pexels (not the actual photo)
That’s exactly what happened to one homeowner, who later discovered their space was listed on Airbnb
ready made/Pexels (not the actual photo)
How to make money from Airbnb when you don’t own a home…
In these trying times, many people are looking for a side hustle that can put some extra money in their pockets. Getting into the short-term rental market is one option. But that’s only possible if you own your own property, right? Not actually, say experts.
Data from Statista reveals that the short-term rental industry in the U.S. is expected to grow from $20.7 billion in 2023 to $24.78 billion by 2029. And with that growth comes numerous opportunities for people to cash in, whether or not they own property.
One way you could do this is something known as Airbnb rental arbitrage. It 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,” explains the Hostaway site. However, you must get your landlord’s approval before even considering this option. Many lease agreements have strict clauses that prohibit sub-letting.
But if you do manage to convince your landlord, it can be well worth your effort.
“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,” reveals Hostaway’s team. They advise aiming for a property that can make profits of at least $2k per month after all expenses.
If arbitrage isn’t an option, you might want to consider becoming an Airbnb property manager.
You’ll work directly with property owners to ensure smooth operations, guest satisfaction and help to maximize profits.
According to Glassdoor, the national average salary for this type of work is around $51,904. But you might also receive bonuses, which can push your earnings to $60,996.
Another way to jump onto the Airbnb wagon if you don’t own property is to co-host.
“Co-hosting is a great entry point into [the] Airbnb market without the full responsibility of being a property manager,” explain the experts. “As a co-host, you help the main host run their Airbnb, taking on tasks like communication and cleaning coordination.”
Many people felt that the sister should be kicked out immediately
Follow Us
