This business is renting out properties, such as homes or apartments. You must manage them yourself, including collecting rent from tenants, paying for utilities like electricity and water for the property, and keeping it clean for future renters.
The median rental price for a one-bedroom home in the United States is $1,200.
To start a house rental business, you'll need to buy or rent property, get any required permits or licenses, and furnish the space. You'll also need to develop a marketing plan and get insurance.
There are a number of potential risks associated with making money from house rental, including:
-The tenants may damage the property, resulting in a loss of income.
-The property may become vacant for a period of time, resulting in a loss of income.
-The property may be vandalized, resulting in a loss of income.
-The property may be foreclosed upon, resulting in a loss of income.
📋Places to Start
1. Airbnb — a platform that allows people to rent out their homes to guests. You can make money with house rental by listing your property on Airbnb and setting your own price.
2. Hometogo — a website that helps people find vacation rentals. It also allows people to list their own vacation rental properties and make money from renting them out.
3. Homeaway — an online marketplace for vacation rental properties, with over 1 million listings in 190 countries. Homeaway allows vacation rental property owners and managers to list their properties for free, and charges travelers a commission to book.
4. Wimdu — a site where you can find rooms to rent all over the world, and it's also a way for people to make money by renting out their houses.
5. Vacasa — a vacation rental company that helps people make money with their house rental.
6. Vrbo — a vacation rental website that allows property owners to make money by renting out their homes to travelers.
7. Neighbor Host — a platform that allows you to make money with house rental by connecting you with people who need a place to stay.