"Turnkey" is a term used to describe many things, including employees, products, services and real estate. When it's used in commercial or even residential real estate, turnkey condition simply means that the space being rented or purchased is ready to move into. Click to see full answer.
What does “turnkey” mean?
Apr 29, 2020 · "Turnkey" is a term used to describe many things, including employees, products, services and real estate. When it's used in commercial or even residential real estate, turnkey condition simply means that the space being rented or purchased is ready to move into.
What does turnkey ready mean in real estate?
Nov 15, 2021 · Question: What is turnkey condition? November 15, 2021 Nora FAQ Most often a turn key home just means that it has been fully and newly renovated. Turn key homes are renovated before they’re put up for sale, usually by companies that specialize in real estate restoration. Those firms can also help buyers manage the property.
What is a turn-key home?
Question: What is turnkey condition? By Benjamin Noah January 3, 2022 Most of the time, a turnkey home is just that. has been completely renovated recently. Turnkey houses are rehabilitated before being put up for sale, usually by companies specializing in real estate restoration. These companies can also help buyers manage their property.
What is a turnkey contractor?
Turn-key properties are homes that are move-in ready, meaning appliances are in working condition and there are no obvious structural or electrical issues with the home. Unlike fixer-uppers, there isn’t a need for renovations and updates before the home is livable. Much of the time, move-in ready homes don’t even require a fresh coat of paint, making them ideal for …
Is Turnkey a good idea?
Turn key homes are popular for home buyers and investors who have no time, ability or interest in setting up the home themselves. If you're looking for an easy source of passive income, turn key homes can be a great opportunity to earn returns without much effort.Jul 5, 2018
What's the difference between turnkey and furnished?
Turnkey property does not typically mean furnished, but some turnkey properties might be furnished. It typically says in the property description whether it is furnished or not. If you are touring a turnkey property and fall in love with the furnishings and the property, however, talk to your real estate agent.Oct 22, 2021
What is turnkey product?
1) Turnkey is a product or service that is designed, supplied, built, or installed fully complete and ready to operate. The term implies that the end user just has to turn a key and start using the product or service.
What are turnkey homes?
A turnkey house and land package is exactly what it sounds like - it's a home where you can turn the key in the lock and move right in. They're also known as 'move-in ready' or 'complete' new homes. Turnkey homes offer many fantastic benefits to buyers.Oct 14, 2020
Does turnkey mean furnished?
Turnkey property does not typically mean furnished, but some turnkey properties might be furnished. It typically says in the property description whether it is furnished or not. If you are touring a turnkey property and fall in love with the furnishings and the property, however, talk to your real estate agent.
What is the meaning of turnkey basis?
Turnkey basis means the scheme of supply in which supplier shall be responsible for design, manufacture, supply, site preparation & services, installation and commissioning of equipment, tests and trials, training, maintenance and handing over to the Purchaser for operation. Sample 1. Sample 2.
Is turnkey a good idea?
If you’re looking for an easy source of passive income, turnkey homes can be a great way to earn returns with little effort. You’ll find that turnkey homes are often bought as investment properties because the space is ready to rent out immediately.
Does turnkey include furniture?
Like so many other real estate terms (ahem, “mint condition” and “cozy”), turnkey is relative. For some listings, it means that there are no major repairs required. For others, it might mean that all furniture is included but no appliances.
What is another word for turnkey?
In this page you can discover 13 synonyms, antonyms, idiomatic expressions, and related words for turnkey, like: turn-key, jailer, end-to-end, pre-integrated, prison-guard, warden, warder, gaoler, multi-utility, bespoke and free.
What is turnkey operation example?
Example: Subway’s sandwich shops are turnkey businesses. A turnkey business is a business that includes everything you need to immediately start running the business, as opposed to having an idea for a product or service and developing a business from scratch.
What is turnkey project example?
Example: Many government-owned public housing projects are turnkey projects. A private developer undertakes all activities necessary to producing the project, including land purchases, permits, plans, and construction, and sells the project to the housing authority.
Does it mean turnkey furniture?
Turnkey property generally means unfurnished, but some turnkey properties can be furnished. The property description usually indicates whether it is furnished or not. However, if you visit a turnkey property and fall in love with the decor and the property, talk to your realtor.
What does the turnkey base mean?
Turnkey means the delivery scheme in which the supplier is responsible for the design, manufacture, delivery, site preparation and provision of services, installation and commissioning of equipment, testing and testing, training, maintenance and delivery to the buyer for your operation. Test 1. Test 2.
It is a good idea?
If you’re looking for a simple source of passive income, turnkey homes can be a great way to make a profit with little effort. You will find that turnkey homes are often bought as an investment because the space can be rented out right away.
Does it include turnkey furniture?
Like many other real estate terms (ahem, “like new” and “comfortable”), the key is relative. For some listings, this means that no major repairs are required. For others, it could mean that all furniture is included, but without appliances.
What is another keyword?
On this page, you can find 13 synonyms, antonyms, idioms, and related keywords, such as: Utility, Custom, and Free.
What is a turnkey operational example?
Example: Subway sandwich shops are turnkey stores. A turnkey business is one that includes everything you need to start your business right away, rather than having an idea for a product or service and building a business from scratch.
What is an example of a turnkey project?
Example: many government public housing projects are turnkey projects. A privately owned developer will carry out all activities necessary to complete the project, including the purchase of land, permits, plans and construction, and will sell the project to the Housing Authority.
What does "turnkey" mean in a home?
What Does Turnkey Mean? Turn-key properties are homes that are move-in ready, meaning appliances are in working condition and there are no obvious structural or electrical issues with the home. Unlike fixer-uppers, there isn’t a need for renovations and updates before the home is livable.
What is turnkey property?
What is a turnkey property? Turn-key is a term used by listing agents in marketing remarks to indicate that the home is move-in ready. This means that all appliances are in working condition and there are no obvious structural or electrical issues with the home.
Why is it important to have a turnkey home?
On the other hand, if you’re searching for a new home because your job has transferred you to a different office on the other side of the country, a turnkey property might be ideal because you won’t have time to spend coordinating renovations while you acclimate to your new town and your new office.
What is a turnkey business?
Key Takeaways. A turnkey business is a for-profit operation that is ready to use as-is the moment it is purchased by a new owner or proprietor. The term "turnkey" is based on the concept of only needing to turn the key to unlock the doors to begin operations, or to put the key in the ignition to drive the vehicle.
What is a turnkey door?
The term "turnkey" is based on the concept of only needing to turn the key to unlock the doors to begin operations. To be fully considered a turnkey solution, the business must function correctly and at full capacity from the moment when it is initially received.
Is Mary Kay a turnkey business?
Direct sales and multi-level marketing (MLM) businesses, such as Mary Kay, can also be seen as turnkey businesses based on how little it takes to have them up and running. Often, a person only needs to sign up for the particular service as a consultant and pay fees for the inventory required to perform the work.
What is a turnkey business?
A turnkey business may refer to a business that can be purchased without having to make any changes to the business model or products sold.
What is turnkey construction?
Traditionally, turnkey, as a term, is commonly applied to construction projects, such as warehouses, other purpose-built buildings, or houses. The idea is that the building contractor finishes a product that the buyer can utilize immediately.
Why is it important to have a turnkey solution?
Turnkey solutions can save a company time and money when implemented with success. A possible drawback of this method, as opposed to designing a process in-house or a custom-built system, is that specifications that are important to a particular company may not be sufficiently integrated into the solution.
Is content management software turnkey?
However, turnkey solutions may not take into account the individual needs of a company. A turnkey solution for content management software offered by a third-party company may be cheaper to purchase, but it may not cover all the needs of the purchaser.
What is a turnkey?
Common usage. Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the customer, upon receiving the product, just needs to turn the ignition key to make it operational, or that the key just needs to be turned over to the customer.
What is a turnkey computer?
The term turnkey is also often used in the technology industry, most commonly to describe pre-built computer "packages" in which everything needed to perform a certain type of task (e.g . audio editing) is put together by the supplier and sold as a bundle.
What is a turnkey project?
A turnkey, a turnkey project, or a turnkey operation (also spelled turn-key) is a type of project that is constructed so that it can be sold to any buyer as a completed product.
What does "turnkey" mean in real estate?
The term “turnkey” is commonly used in real estate to describe homes that are ready for you to move in. Well… that is what it is supposed to mean. However, the term turnkey property may let you down. Most people take the term literally and expect to simply be able to turn the key to their new home, but that’s not always the case.
Is "turnkey" a relative word?
The word “turnkey,” is relative, so you will need to keep the idea subjective in your mind. When using the phrase “turnkey property” in real estate, remember that it is a loose adjective, and things may not look the way you expect them to. Never fear!
Is a turn key home a move in ready home?
Besides a move-in ready home, you may choose a fixer-upper, a home with upgrades, or even a house with a few updates needed but in overall good condition. While there are many kinds of homes for sale, purchasing a turn key home is not out of reach for many people as prices on new homes are still affordable.
Can you turn the key to your new home?
Most people take the term literally and expect to simply be able to turn the key to their new home, but that’s not always the case. In some cases, home sellers and real estate investors will take advantage of the market, listing homes with this key phrase, but not actually delivering.
Is a turnkey a fixer upper?
In fact, many turnkey properties can be considered fixer-uppers even though they are clean and ready for move-in. There could be any number of little lingering problems around the home, regardless of the fact that you can move in right away. Sometimes, this is simply because to make a home “turn key,” sellers may prioritize the turnkey aspect ...
