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Stacy, Other/Just Looking in

What does the term turn key mean on a listing?

Asked by Stacy, Wed Feb 13, 2008

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13
The meaning of " Turn-Key" in real estate not universally agreed-upon and can vary from region to region.
In the western US, it generally means furnishings are included; in rentals and some vacation properties it may also include kitchens with pots, pans and dinnerware; linens and towels too.

In the eastern US, "turn-key" is often used to describe a home that has requires no immediate repair or work to inhabit by the new owner. If you see this word used in a listing - ASK THE LISTING AGENT EXACTLY WHAT THEY MEAN....Don't assume!
2 votes Thank Flag Link Sun Sep 18, 2011
Turnkey means exactly what the term says. You should be able to just "turn the key" and live in the property. A turnkey property should only require you to bring your clothes and toothbrush.
1 vote Thank Flag Link Tue Mar 25, 2014
Lol@ Toothbrush
Flag Sun Jan 24, 2016
We just bought a turn key house in Florida and EVERYTHING stayed except for a few personal things listed in purchases agreement (books, antique fan and typewriter). Even the beds were all dressed up with sheets, comforter and pillows. BBQ and Liana furniture was included.
1 vote Thank Flag Link Wed Jun 5, 2013
What is the definition of turnkey
0 votes Thank Flag Link Fri Jul 22, 2016
Wonderful! A question posted in FEB 2008 !!!!

What does the term 'old moldy dusty question' mean?
0 votes Thank Flag Link Tue Mar 25, 2014
Turn key means that their are no immediate repairs or work to move in. However, what I consider turn key and buyers is different. When everything is in working order and functioning I consider that turn key. Some buyers I have worked with would argue that a kitchen with laminate counters and appliances that are not stainless is not turn key.
0 votes Thank Flag Link Tue Mar 25, 2014
Consumers are turnkey rental more, according to the survey, but the typical rent for a two-bedroom home rose in 89% of those markets to meet the demand. rental properties
0 votes Thank Flag Link Sun Nov 4, 2012
TicketDigg is Phish Tickets . Now you can get Rush Tickets in your city.
0 votes Thank Flag Link Sun Jul 15, 2012
It is true that the term can mean different things for different people. I usually use the term with investment properties that are already rented with property management in place.
0 votes Thank Flag Link Wed Feb 13, 2008
Stacy,
Karen has it right. But don't be surprised if someone else using that term has a different definition. Another broker may think or use "turn key" to mean only that the property is newly painted and cleaned. Another term in real estate jargon is "puffiing" which is using advertising verbage to paint a picture that may not be entirely accurate. Karen and I would not do that but there are some that would.
0 votes Thank Flag Link Wed Feb 13, 2008
Hi Stacy,

Turn key usually refers to a home which includes furnishings plus bedding and towels, dishes, cookware, etc.... the things a homeowner would typically use on a daily basis. Essentially, the buyer can just "turn-the-key" in the front door, and move right in.

Turn key properties are especially appealing for second homes and rental properties, where the new owner does not intend to move furnishings and personal items from one home to another. For vacation properties, many new owners love the convenience of not having to worry about finding, purchasing and setting up a part-time residence. Turn key properties are ready to use and enjoy immediately.
0 votes Thank Flag Link Wed Feb 13, 2008
Stacy,
Normally a "turn-key" property refers to the property virtually ready for you to just bring your furniture and move in. Landscaping, driveway, patio or deck, is all done. If it is brand new, many times all the appliances are in, carpeting, paint, etc.
It can be very appealing for people who don't have the time, or don't want to deal with making all the decisions on their own.
Good Luck in your search
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0 votes Thank Flag Link Wed Feb 13, 2008
Stacy....

In my humble opinion it means you can move right in.
0 votes Thank Flag Link Wed Feb 13, 2008
Pam Winterba…, Real Estate Pro in Danville, VA
MVP'08
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