You don’t need to own any property to host an Airbnb and make a couple of extra dollars along the way. This episode, Jen and Jill introduce you to the world of Airbnb rooms and co-hosting—it can be a full-time job or a profitable source of income while you keep your full-time job.
- 3-in-1. Like the sound of 3-in-1? The thought of having 1 thing that actually does 3 things? What about a 10-in-1…or better yet a 19-in1!!?? Enter the multi-tool. The under-rated resource that gives you pliers, wire cutters, knives, screwdrivers and more all in 1 place! If all this sounds good but you’re not interested in purchasing a leatherman, then sign up for our newsletter! It’s an all-in-1 – your 1 stop shop for knowing what freebies you can get that week, savings and spending hacks and money mindset shifts. Get it for free at frugalfriendspodcast.com/friendletter
How to Make Money on Airbnb Without Owning Property
This article by iGMS lists ways to make money on Airbnb rental rooms, or beyond that!
What Jen + Jill have to say:
If you dream of becoming a property manager, hosting an Airbnb room can be a great opportunity for you. But as a side note, there are many states that have legal requirements for terming yourself a property manager, so Jill hopes you bear that in mind! You can be a property manager for the owner as you attend to the rooms’ needs, bookings, communicating with the guests, and organizing the cleaning and maintenance tasks.
Jen hosted an Airbnb before she had kids, and they’re still using the money they made off of it to do their house renovations. More of, Jen’s Airbnb hosting experience can be found on YouTube. Even if you just do it for a couple of months or one week—it doesn’t have to be for a long time—it can train you to become a good co-host.
Sign up using frugalfriendspodcast.com/airbnb and see if you can get a bonus after you host your first day.
Co-Hosting On Airbnb: Can You Do It Without Prior Hosting Experience?
This article by Shortterm Sage briefly defines co-hosting and shares how you can do it without any prior experience hosting Airbnbs.
What Jen + Jill have to say:
Co-hosting has to be the most accessible for most people, as it is short-term, can be done virtually, and can be done without any prior experience in hosting Airbnbs. Look into co-hosting markets such as CohostMarket, Facebook groups (The Host Nation), and Arya Design, which Jen recommends, as they help investors launch their furnished rental businesses.
There are going to be a lot of responsibilities as a co-host, but it will also help you build appropriate skills for property management. Jill reminds you to draw up an agreement about your share of payment—either choose to charge a flat rate per booking or a percentage per booking.
What’s one thing you wish more hosts would do in their Airbnb rentals?
Jen frustratingly wishes Airbnb rentals would not require you to clean but instead charge a cleaning fee. As for Jill, she wanted more of them to add hooks to hang up.
Bill of The Week
Thank you Sara for sharing your bill about not spending on a gift for your friend!
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