Definition
An investment property that is fully renovated, tenant-ready, and generating rental income immediately upon purchase.
Not sure where this fits?
Answer a few questions and we’ll open the path that fits, at the right step.
Find my pathAbout this term
Turnkey properties are fully renovated, financed, and leased to tenants at purchase closing. Buyers take possession and immediately receive rental income. Properties are professionally managed through property management services. Turnkey properties eliminate renovation risk and management complexity for passive investors. Premium pricing reflects convenience and immediate income. Properties are typically in strong rental markets. Financing is available through specialized turnkey lenders. Quality and property condition vary; due diligence is essential. Turnkey properties appeal to passive investors seeking income without active involvement.
Pro Tip
Verify tenant quality and lease terms carefully before purchasing turnkey properties.
Example
A turnkey rental property was purchased fully renovated with an existing tenant paying $1,200 monthly rent.