We have used both, tho VRBO much more often. We just used it for our trip to Gatlinburg TN and the Smoky Mtn’s for Memorial Day week.
A 2 bedroom, full kitchen, log cabin in the hills (hollar, down there) with 5 person hot tub was $1270 total for 6 nights. We could have easily split that with another couple if we chose to, the second bedroom was a full loft with King bed and full bathroom (and pool table). Any of the nicer hotels in town were all close to $200/night for the same stay, and we had bears walking down our street!!
We also have a 1 bedroom ocean view villa rented on Curacao for our anniversary in November, for 9 nights, for $1415. So there are deals to be found out there.
No problems so far with either, but yes, you need to check fees closely. I was looking at properties in the Banff area recently for a future trip, and the fees were all over the place there. Buyer beware always.