Everything You Need to Know About Starting a Space Rental Business Without a Home
Creating a money-making space that's complete by following these steps

What's the hottest side hustle these days that can be started with little money and time? Space rental, which anyone can try "without owning a home," is gaining attention.
Space rental business is a business that generates profit by renting out the space that I own or rent to others.
It doesn't have to be a large, expansive space.
If you understand the pros and cons of each space, such as its location and purpose, and can utilize them well, you can earn a second salary of over 5 million won per month even in a space of about 10 pyeong.
The author began by renting out his own studio apartment, and has since grown into a space rental expert, working in various industries including shared accommodation (Airbnb), short-term rentals, party rooms, rental studios, and shared offices.
This book contains only the essential information for both beginners and experienced space rental professionals, covering everything from site selection to interior design, operations and management, public relations and marketing, profit analysis, and success and failure cases.
We've divided the levels into categories based on initial investment and difficulty in operating the space, so you can try one that suits your situation.
Anyone can start a space rental business with little money and time, and it's the perfect side job and financial investment tool for office workers who dream of a second salary without quitting their job.

Spaces and brands have a lifespan.
Unless you plan to expand your existing space into a franchise of more than 10 locations, no matter how novel your concept or fancy interior is, countless imitation spaces will appear within six months at the earliest, or within two to three years at the latest, and your space will quickly become outdated.
It's easy to understand if you think of it as a similar category of food service.
For example, there are Daewang Castellana Tanghulu, unmanned ice cream shops, etc. (Tanghulu sales decreased by 40% in one year... 1 million self-employed business owners closed due to 'flash franchises' - Chosun Ilbo, September 2, 2024).
It spreads quickly and disappears without a sound.
--- p.23, from “Chapter 1: Turning Abandoned Spaces into Profitable Spaces”

Even if the location isn't ideal, wouldn't a space with low rent and excellent facilities still be successful? Again, the space rental business isn't simply a rental business; it's more of a service industry where customer experience and satisfaction are crucial.
Therefore, the emotions and experiences people have when using a space can vary greatly depending on its location, and this is directly related to customer attraction and business operations.
The time available to sell space is only a portion of the day, and the times users want are fixed.
When one person reserves a space at a certain time, anyone else interested in that time evaporates.
Therefore, it is crucial to understand the characteristics of the industry you wish to operate in and the market demand before selecting the most appropriate location.
--- p.77, from “Chapter 2: Creating a Money-Making Space”

To be successful, you need to break down your requirements from the very beginning when looking for a space.
If you vaguely set conditions that others prefer, such as new construction, large space, and proximity to a subway station, the deposit and monthly rent will increase and the rate of return will decrease.
Rather than increasing your investment until you find a perfect space, you need to identify and specify in detail the conditions you can and cannot compromise on, such as transportation and location.
This way, you can go beyond simply finding space and maximize your profits.
Additionally, if you run a party room or rental studio, you should set essential requirements, such as parking availability and soundproofing, and convey them to a real estate agent to quickly find a suitable property.
--- p.85, from “Chapter 2: Creating a Money-Making Space”

'Wehome' is a shared accommodation platform created in Korea, and 'Wehome' open hosting is one of the ways for foreign tourist city homestay business operators to expand their domestic business as a demonstration special case or to start an 'Airbnb' business relatively easily without a foreign tourist city homestay business operator.
The operating structure is as shown in the figure on page 124.
New hosts can only make reservations for 180 days per year for both domestic and foreign guests on the 'Wehome' platform, but when using open hosting together, domestic guests can make reservations on 'Wehome' and foreign guests can make reservations on 'Airbnb'.
On the other hand, foreign tourist city homestay operators can accept reservations from foreigners 365 days a year, but cannot accept reservations from domestic guests.
However, if existing foreign tourist city homestay operators use open hosting, they can accept reservations from foreigners 365 days a year and from domestic guests 180 days a year.
Additionally, not only accommodations that have been granted a foreign tourist city lodging permit, but also accommodations that have not been granted a permit can receive reservations on Airbnb through open hosting.
Airbnb hosting through 'Wehome' requires a 7% joint hosting fee of total sales, but foreign tourist city homestay operators do not have to pay a separate fee.
--- p.123, from “Chapter 2: Creating a Money-Making Space”

An early marketing strategy is crucial to effectively promote your meeting space.
Party rooms and rental studios should utilize space rental platforms such as 'Space Cloud', 'Our Place', and 'Share It' to attract customers and create word-of-mouth through social media.
For example, if you participate in an SNS authentication or posting event after check-in, you can receive free parking or additional time benefits, and if you leave a review, you can receive additional time benefits for your next stay.
There is also a method that allows users to use the space at a discounted price by paying in advance through a flat-rate ticket concept.
And we are strengthening our online promotion by posting photos and reviews of our space on Instagram, Facebook, and Google My Business.
--- p.136, from “Chapter 2: Creating a Money-Making Space”

Let's look at the case of an entrepreneur who ran an 'Airbnb' business without a license in a rural area and faced legal problems.
The reason many people want to operate 'Airbnb' without a license is because they think they can easily operate and make a profit by avoiding regulations.
Local businesses often try to operate without a license, believing that regulations will be lax and enforcement will be weak, but as this case shows, the results can be devastating.
Getting entangled in legal issues early on can negatively impact future business expansion or other entrepreneurial endeavors.
For example, a fine record can negatively impact your credit rating with financial institutions, which can restrict your ability to secure financing and limit new business opportunities.
--- p.183, from “Chapter 3: Space Rental Business Case Study”

You can start a space rental business even if you don't own real estate or have much business experience.
What matters is the right direction and execution.
Whether you own real estate or simply have an idea and passion, this book presents more than six ways to make money with space.
If you are wondering which type of space management is right for you, it is a good idea to try out different spaces one by one.

--- p.211, from "Epilogue"