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As vacation home rentals and apartment rentals go more mainstream, you can expect more vacation rental management companies, broadly similar to Turnkey Vacation Rentals, to emerge as owners seek to make the hosting process more efficient and less of a hassle.
Turnkey Vacation Rentals, an Austin-based vacation rental management company led by former executives from Hotwire and HomeAway, secured an additional $3 million in seed funding to expand into ski, beach, and other markets.
Silverton Partners and Turnkey Vacation Rentals’ existing investor base of current and former online travel executives participated in the seed funding, bringing its total funding to $4.8 million.
Led by chairman John Banczak (HomeAway, BedandBreakfast.com, HomeAway), CEO T.J. Clark (Hotwire, IAC, Limos.com) and VP of Engineering Doug Squires (HomeAway, BnB.com), Turnkey Vacation Rentals manages the rental and distribution process for owners representing 200 properties in Austin and Port Aransas, Texas, and Santa Barbara, California, and plans to use the new funding to expand into 10 new markets.