Turnkey vs Vacasa: What STR Investors Need to Know in 2026

Turnkey Vacation Rentals (now operating as Vacasa after acquisition) and the broader Vacasa platform represent an interesting comparison because Turnkey was acquired by Vacasa in 2021 — but the brand and some operational differences linger in how owners describe their experiences. This guide clarifies what Turnkey offered, how Vacasa absorbed it, and what current STR investors should know about both. For the full management company landscape, see Awning's top Airbnb management companies review.

Turnkey: What It Was Before the Acquisition

Turnkey Vacation Rentals was founded in 2012 as a full-service vacation rental management company with a strong technology focus. They were known for their smart home integration, quality control programs (including their 'HappyHome' inspection system), and relatively transparent fee structure. They operated in about 50 markets at the time of their 2021 Vacasa acquisition.

Turnkey's Defining Features:

•        Smart home technology integration (smart locks, noise monitors) as a standard feature

•        'HappyHome' quality inspection program before every guest arrival

•        Strong owner portal and transparency

•        Fee range: approximately 18–28% depending on market

How Vacasa Absorbed Turnkey

After the 2021 acquisition, Turnkey properties were transitioned to the Vacasa platform. Some owners reported continuity in service quality; others noted changes in local team contacts, communication, and operational consistency during the integration. The Turnkey brand no longer operates independently — if you're comparing 'Turnkey vs Vacasa' today, you're comparing historical Turnkey to current Vacasa.

Current Vacasa: What Investors Should Evaluate

Vacasa today is a large-scale full-service operator with significant operational history in most major leisure markets. They've also been through significant business restructuring, including substantial layoffs in 2023. Evaluating Vacasa for your property means looking at their current performance in your specific market — not their national reputation.

Key Due Diligence Questions for Vacasa:

•        Do they have an established local team in my specific market?

•        What is their average occupancy rate for comparable properties in my market — with data to back it up?

•        What is the full fee structure, including any fees beyond the base management commission?

•        What does the management agreement say about contract length and termination?

•        Can I speak with current owners they manage in my market?

What Turnkey Got Right That Buyers Should Demand From Any Manager

Turnkey's smart home integration was ahead of its time. Awning's home automation service delivers the same capabilities — smart locks, keyless check-in, and noise monitoring — as part of property management. Similarly, quality inspections before every guest arrival (Turnkey's 'HappyHome' approach) are standard in Awning's cleaning and turnover process.

Revenue Validation: Don't Take Anyone's Word For It

Whether you're evaluating Vacasa, the legacy Turnkey markets, or any other manager, validate revenue projections with independent data. Use Awning's Airbnb market data tool and income estimator for free projections. AirDNA and Rabbu provide additional market data.

Also run Airbnb cap rate analysis on any property before choosing a manager — the underlying investment math matters more than which manager you select.

‍

📎  Related Resources

→ Top Airbnb Management Companies Reviewed

→ Home Automation for Airbnb Properties

→ Airbnb Cleaning Service — Quality Control

→ Airbnb Market Data by City

→ Airbnb Cap Rates Guide

‍

See Awning's full-service management →