Renting out rooms or homes can be a fantastic way to create passive income, but it’s crucial to note that it’s not entirely passive. You will still be responsible for maintaining the property and finding renters as a rental owner. You should also budget for unexpected expenses such as repairs.
Having said that, investing in rental homes may be quite profitable, especially if you can set the rent high enough to cover your costs and generate a profit. Conducting thorough research and managing your business with care is essential to succeed.
Airbnb is a popular platform that allows people to rent out their homes or rooms. It also helps manage your business effectively to some extent.
However, it is not the only option for rental business owners like you looking to make some extra money by renting out their unused spaces. Several other websites like Airbnb allow you to list your rentals and connect with potential people all around the world.
In this article, we will explore some of these websites and the features they offer.
1. Vrbo (Vacation Rentals by Owner)
VRBO (Vacation Rentals by Owner) is a vacation rental platform that allows property owners to list their homes or other properties for short-term rentals. Travelers can browse and book these properties for vacations or other short-term rentals.
You can add high-quality photos and descriptions of your property and manage and get bookings online. Vrbo also offers a range of pricing options, including pay-per-booking and subscription plans.
It also comes with easy-to-use applications, the ability to create rental agreements, messaging options, and more.
Next, we have FlipKey.
FlipKey is owned and operated by TripAdvisor and allows homeowners to list their properties for vacation rentals. It offers free listing options for owners like you, but you have to pay a 3% commission fee for each booking.
Renters can find and book unique accommodations, such as vacation homes, apartments, and villas. Flipkey has a secure payment system and a verification process to ensure that the properties listed on the platform are legitimate.
Payment for the rental is made through the Flipkey platform, and the host will be paid when the renter checks in.
Another popular website equivalent to Airbnb is HomeAway.
HomeAway is a popular vacation rental website that allows rental property owners to list their properties for rent to travelers. Many property owners like you have had positive experiences with Homeaway, as it offers a convenient and easy way to reach a large audience of potential renters and handle bookings and payments.
It offers several listing packages for property owners, which typically include a subscription fee and a commission on bookings. The commission is a percentage of the booking fee that is charged to the rental owner when a reservation is made.
Booking.com is a well-known and popular platform that attracts a huge number of travelers, which can help increase the visibility of your rental properties online.
The platform is user-friendly, making it easy for you to list your rental and manage bookings. It also provides better customer support for you and your guests, which can be helpful if any issues need to be addressed.
The only caveat about Booking.com is that it charges commission fees on bookings, which can eat into your profits.
Nestpick is an online rental platform that helps renters find furnished apartments, rooms, and homes for rent in popular cities around the world. It allows property owners to list their properties for rent and reach a wide audience of potential tenants.
Depending on the conditions of your contract with Nestpick, you may have to pay a commission. The platform’s compensation for its services will probably be a portion of the renting cost. Before advertising your property, it is a good idea to carefully check the terms of the contract to understand the fees and commissions that will be paid.
Roomster is a website that is primarily geared toward finding roommates and shared living formats, but it also offers entire apartments and houses for rent. Property owners can list their rental properties on Roomster and reach a large audience of potential renters.
Roomster also offers various features and tools that can be helpful for rental property owners to list and manage their rentals, receive and respond to inquiries from potential renters, and process payments.
Tripping.com is a vacation rental search engine that allows users to compare and book short-term rentals from multiple listing sites, including Airbnb, Vrbo, and HomeAway. It is not a rental platform itself but rather acts as an aggregator of listings from other sites.
Wimdu is a vacation rental platform that allows homeowners to list their properties for short-term rentals to travelers. It is similar to other platforms such as Airbnb and HomeAway.
Homeowners can list their properties on Wimdu and set their rental rates and availability. When a traveler books a stay at the property, the homeowner will receive the rental payment.
Wimdu may charge a fee for listing a property on the platform and/or a commission on bookings.
OneFineStay is a vacation rental website that allows people to list their homes or apartments for rentals. Renters can surf and book these properties through the OneFineStay website.
OneFineStay aims to provide a better vacation rental experience for their guests with properties that are neatly furnished and equipped with amenities such as linens, towels, and toiletries.
OneFineStay is now part of the Accor group and operates under the name of “Accor Vacation Homes.”
Zillow is a real estate and rental company that allows people to search for and view listings for homes and apartments for sale or rent. It also provides resources for people to make informed decisions when buying or renting a home.
Users can search for properties by location, price range, amenities, and other criteria. They can view detailed listings for each property, including photos, descriptions, and information about the neighborhood.
Zillow also offers iOS and Android mobile apps to access property listings on the go.
Bonus: How to earn more by getting more direct bookings?
Having your own rental website can help you get more direct bookings because it helps you to build your brand and a strong online presence, which can help to attract more guests to your business.
Also, you can promote your business through marketing efforts such as search engine optimization, social media, and email marketing, to reach a wider audience and potentially increase the number of bookings you receive directly through your website.
Listing your rental on third-party websites like Airbnb and Vrbo can be a useful way to get exposure for your property, but it can also come with certain drawbacks. For example, you have to pay a commission on each booking that you receive through the third-party website, which can eat into your profits.
By creating your own website and promoting it effectively, you can potentially increase the number of direct bookings you receive and reduce your reliance on third-party websites.
Yaa, we have seen the list of websites you can list your properties and what are the potential downsides of them. You can eliminate these hurdles by creating a rental platform of your own.
Creating your own rental website can be tricky for a non-techy founder. To help founders like you, we created a readymade rental website and mobile apps, that you can customize to kick-start their journey.
Let us know if you need any help with the development process or anything in general. Just schedule a meeting with us.