What is a Turnkey Property?
The simplest definition of turnkey property is a property that is ready to move into immediately. Turnkey is usually only used in reference to properties for sale, not those for rent. However, real estate investors may seek out turnkey properties to purchase and then immediately rent out.
Turnkey properties are highly desirable for both home buyers and investors, as most do not want to spend extra time and money renovating a property. For this reason, property developers often strive for turnkey status when preparing a property for sale, as this commands the highest sale prices. Read more