There are a couple of ways to do this. One way is to make your own anchor and leave some gear. Some locations do not allow this. The second way is using a rock or a tree and use the equivocation or macrame hitch.
Using the equivocation hitch, I pass rope at least seven times, and the last one is pulled out about 40 cm or a little over a foot of rope. The side where the tension will hold the loop in place is the one you rappel on using an ATC or in a pinch, I’ll use a figure of 8 hardware. If more than one person is rappelling, take a locking carabiner around the loop and the rappel strand. The last person would remove the locking carabiner, make sure the loop is long enough, apply tension on the rappel side, and rappel down while managing the other side of the rope. Once you are safely at the bottom, pull on the other rope until you feel a tug, and then pull on the rappel side rope, and repeat back and forth until you recover the rope.
Before rappelling this way, make sure you practice making the equivocation hitch and practice safely, then practice repeatedly until you have this method down. Always practice this many times before going outdoor to rappel this way.