They said that they have access to external direct booking website and they charge higher commission rates if guests book direct vs VRBO platform. 

But bottom line money is out of your account and into an account you cant access or influence.

There are some restrictions so I would encourage you to look into it to see if eligibility applies.

Quote from @Dylan Jeluso: This questions is the same question as getting your real estate license when doing flips, you have access to the MLS, you save money on the commission, and you have a little bit of a competitive advantage over the next person that is not licensed.

Remember someone may be coming on your property every month to change the sign, unless they have some kind of direct access.2.

Sadly this industry is ripe for a company to come out with a product that does what we need it to do, be versatile enough with it's software that it can expand and have the customer service that is accessible.

That's why you see so much trapped equity in properties owners cannot access. 

Several things to consider: 1) One of the main purposes of segmenting your assets into separate LLC's is so that your personal net worth or equity in other business ventures or properties isn't exposed, so unless you have a high net worth or a lot of equity in a property, it might not be worth bothering going the separate LLC route, especially when it restricts your financing of the property.  2) Most any commercial financing you get from a local bank for a small property is going to have recourse anyhow and require that you sign a personal guarantee, so you're still personally on the hook to the bank even in the case of a commercial loan.  3) If you're a newer investor and buying a deal that's tight on cash flow, or if you don't have a ton of cash sitting in the bank already, your greatest risk factor as an investor is your investment failing economically due to poor financing terms or not operating the investment properly, not because you get sued. 

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

HOA, shopping center,  or neighborhood restrictions?