What does turnkey mean in commercial real estate?

What is turnkey in commercial real estate?

A turnkey property is ready to move into immediately. There is no waiting period to use the property for its intended use on a turnkey property. This is ideal for many different categories of interest in commercial office space.

What does turnkey mean in real estate terms?

A turnkey property is a move-in ready home that doesn’t require any major repairs or improvements before it is livable. … These homes are designed for renters who want truly move-in-ready homes. Occasionally, real estate listings will use the term turnkey to entice buyers, even when the place isn’t properly refurbished.

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.

What is a turnkey tenant?

The concept of a turnkey lease is that all the tenant has to do is “turn the key” to open for business. The landlord is responsible for paying for all of the improvements and leaving only minor costs (furniture, phone, etc), if any, for the tenant.

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What is a turnkey equipment lease?

A website with a ready-made solutions and some configurations is called a turnkey website. … “Turnkey real estate” also refers to a type of investment. This process includes the purchase, construction or rehab (of an existing site), the leasing out to tenants, and then the sale of the property to a buyer.

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 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, jailor, screw and multi-utility.

What are turnkey projects typically?

Turnkey (or turn-key) project is a term typically used with reference to construction projects for which the developer undertakes the whole responsibility from design to completion so that the building is available to the buyer in a ready-to-use condition.

What does turnkey price mean?

Turnkey cost (sometimes referred to as turnkey pricing) is the total cost that must be covered before a product or service is ready to be sold and used by consumers. A turnkey cost may involve a direct cost, such as materials, or an indirect cost, such as administrative expenses and product engineering.

How do turnkey companies make money?

First, turnkey companies often buy the property at a discount and sell it to you, the out-of-state owner, for a higher amount, essentially “flipping” the property to you for a hefty amount. Then, the turnkey provider makes a monthly income by managing the property for you.

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Is Roofstock a turnkey company?

Roofstock’s convenient buying process

Roofstock is not exclusively a turnkey company, but its online marketplace does include a section of turnkey properties.

What is a TI cost?

TI Costs means the total of all costs incurred by Landlord in connection with or allocable to the construction, installation and financing of the Initial Tenant Improvements, including, without limitation, design costs, permitting fees, interest and financing fees.

What is a proprietary lease?

What is a proprietary lease? A proprietary lease, also referred to as an occupancy agreement, gives a shareholder in a housing cooperative the right to occupy a particular dwelling unit. Homebuyers who join a co-op are purchasing shares in a corporation rather than acquiring real estate.