8 Steps to Make Money on AirBnb Without Owning Property

For starters, we are the strongest supporters of real estate ownership.

We believe it is a sure way to wealth creation. It is about the only thing that appreciates over time. However, entering into it involves careful planning and significant resources, which is not always available to everyone.

But what if we told you that you could benefit from the real estate market without owning a property? Yes, it’s possible. Let us show you how in eight steps.

1.Understand your city’s Airbnb regulations:

Learn about local short-term rental laws.

For example, if you’re in Nairobi, be sure you know the registration and compliance requirements. They may not be the same as those in Mombasa, but it is your obligation to identify any gaps that could work to your benefit.

2. Search for properties online.

Then, use platforms such as Property 24, BuyRent Kenya, Kenya Property Centre, and Hauzisha to locate possible properties. Social networking and real estate websites/apps can be beneficial in your search. They can broaden your reach and present you with a number of possibilities.

3.Focus on Furnished Properties:

Look for furnished rentals at a reasonable price. Furnished houses are more enticing to short-term tenants.

4.Gather Detailed Property Information:

Next, gather information on your chosen facilities, such as location, size, number of rooms, amenities, and distinguishing features.

5.Analyze Projected Earnings:

Use Airbnb’s platform or other tools to estimate potential earnings. Compare these projections against the property’s capacity and operating costs.

6.Determine Competitive Pricing:

Set competitive pricing based on your analysis. Ensure it attracts guests while covering costs and generating profit.

7.Negotiate with the Landlord:

Pitch your idea to the property owner. Explain how listing on Airbnb can benefit both parties and secure their approval.

8.Plan Your Marketing Budget:

Allocate funds for marketing your Airbnb listing. Plan for online advertising, professional photography, and potential promotions to maximize visibility and bookings.

If you follow this strategy step by step, you will be a step closer to making a shilling or more without necessarily owning property.