what does turnkey mean

What made you want to look up turnkey? A turnkey property is a fully renovated home or apartment building that an investor can purchase and immediately rent out. A turnkey business is a business that is ready to use, existing in a condition that allows for immediate operation. Choose the right area for you. An agreement under which a builder agrees to complete a facility so that it is ready for use when delivered to the other contracting party. This means that all appliances are in working condition and there are no obvious structural or electrical issues with the home. It refers to an object that is designed, supplied, built, installed, commissioned, fully complete and ready to use or operate. A contractor may agree, for example, to build a fully equipped ad operational factory under the turkey contract. turnkey (Adjective) ready to use without further assembly or test; supplied in a state that is ready to turn on and operate (typically refers to an assembly that is outsourced for manufacture) They wanted a turnkey solution for the entire system, but we could only provide the enclosure. Breathless, exhausted, the free baron marked the conflict now transferred to the turnkey and the jester. It means experiencing the perks of real estate without a lot of the tedious behind the scenes work and details required with other investment strategies. While a property is considered furnished when there is furniture included. They can expect a turnkey project to be returned to them and fully operable when they are ready. ClassDojo is an educational technology communication app offering free, Getting this level of equipment, once custom, is now, In December, the agency plans to hold a virtual meeting for 37 new, The 2015 legislation was supposed to be the gateway for companies like DMC (DeLoreans), Caterham (Lotus Sevens), Factory Five (Shelby Cobras), and Superformance (more Cobras) to offer actual, Post the Definition of turnkey to Facebook, Share the Definition of turnkey on Twitter. The term “turnkey” is commonly used in real estate to describe homes that are ready for you to move in. Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012. of, relating to, or resulting from an arrangement under which a private contractor designs and constructs a project, building, etc., for sale when completely ready for occupancy or operation: fully equipped; ready to go into operation: a keeper of the keys, esp in a prison; warder or jailer, denoting a project, as in civil engineering, in which a single contractor has responsibility for the complete job from the start to the time of installation or occupancy, ‘E-commerce is expensive’: How invisible technology and infrastructure overhauls will save retail, The Chronicles of Crime or The New Newgate Calendar. This means that all appliances are in working condition and there are no obvious structural or electrical issues with the home. Let’s find out with this quiz! For some listings, it means that there are no major repairs required. ADVFN's comprehensive investing glossary. How To Avoid Problems With a Turnkey Property. If you’re in the market for a new home (and if you’re first home buyer, it’s an absolute no brainer to be building new right now ) you’ve probably seen the word ‘turnkey’ plastered absolutely everywhere. The turnkey withdrew to a discreet distance, where he remained within call, yet beyond the range of ordinary conversation. As a result, the construction company is held responsible for exceeding the budget. a turnkey operation/solution/system Implementing a turnkey solution for a dot.com takes around 12 weeks. What Is a Turnkey Property? Turn-key job definition is - a job or contract in which the contractor agrees to complete the work of building and installation to the point of readiness for operation or occupancy. Dictionary.com Unabridged 'Nip it in the butt' or 'Nip it in the bud'. Delivered to your inbox! This is contrasted with build to order, where the constructor builds an item to the buyer's exact specifications, or when an incomplete product is sold with the assumption that the buyer would complete it. It means leaving the hard work up to the professionals and watching the income roll in. Learn a new word every day. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! A turnkey property is a move-in ready home that doesn’t require any major repairs or improvements before it is livable. Accessed 22 Feb. 2021. Etymology: From turn + key. These example sentences are selected automatically from various online news sources to reflect current usage of the word 'turnkey.' The Most Surprisingly Serendipitous Words Of The Day, The Dictionary.com Word Of The Year For 2020 Is …. See the full definition for turnkey in the English Language Learners Dictionary, Britannica English: Translation of turnkey for Arabic Speakers. The benefits of a turnkey home 1. He had not many visitors, and his only attendant was a prisoner, who was appointed for that purpose by the turnkey. Well… that is what it is supposed to mean. “Turnkey” is a term often heard when renting a commercial space, but what does it really mean? Typically a property is considered “turnkey” when it is move-in ready, i.e. The phrase "turnkey" is meant to imply that little work is required by the buyer other than opening the door to customers and offering good customer service. A Full Turnkey home is pretty much what it sounds like – a home where all that’s left for you to do is turn the key and move in. Stock market dictionary. One of the most common types of turnkey businesses is a franchise. Turn key homes are renovated before they’re put up for sale, usually by companies that specialize in real estate restoration. Ensure your new suburb is properly planned and infrastructure … Turnkey contract. In some circumstances, the term turnkey is used to describe a newly renovated property that doesn’t even need a fresh coat of paint, while other times, the word can refer to a home that is fully furnished, too. However, this doesn't mean that an inspection is unnecessary if you decide to make an offer on a home marketed in turn-key condition. A tenant should always inquire to what furnishings and creature comforts of home are included in the property and never assume “turn-key” means it has everything they need. (Definition of turnkey from the Cambridge Business English Dictionary … Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021, Collins English Dictionary - Complete & Unabridged 2012 Digital Edition In theory, “turnkey” means that you should be able to just “turn the key” and move right in. Silently the turnkey passes the cell, like a flitting mystery casting its shadow athwart a troubled soul. Like so many other real estate terms (ahem, “mint condition” and “cozy”), turnkey is relative. However, the term turnkey property may let you down. Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. What Is The Difference Between “It’s” And “Its”? Most often a turn key home just means that it has been fully and newly renovated. What is the meaning of turnkey contract? Send us feedback. What does turnkey mean? Turnkey definition is - built, supplied, or installed complete and ready to operate; also : of or relating to a turnkey building or installation. Money word definitions on nearly any aspect of the market. The problem with the word “turn-key” is that it can mean different things to different people. The project manager or client will only have to do very minimal work. The tricky thing is that despite sounding quite straight forward each home builder uses the term differently. Disputes occasionally arise out of the differences between a property listed as “turnkey” and a property listed as “furnished”. “Affect” vs. “Effect”: Use The Correct Word Every Time. Turnkey impliesRead More 'All Intensive Purposes' or 'All Intents and Purposes'? turnkey contract definition: a contract in which a company is given full responsibility to plan and build something that the…. This is because Shopify acted as a cheap, turnkey solution that brands could add their own personalizations to and share in an open market, making it a great solution for marketers new to online sales. Learn more. “Turn-Key” does not necessarily include a variety of items… for instance, site improvements: space, additions, HVAC upgrades/changes, Power, shielding/lead lining, etc. See more. Do you have the grammar chops to know when to use “have” or “has”? Please tell us where you read or heard it (including the quote, if possible). turnkey - definition of turnkey. What does "turnkey" really mean? How to use turnkey in a sentence. My grandmother ________ a wall full of antique cuckoo clocks. A turnkey home has everything that you want or need included in the initial building process and the price you pay for a new home. In practice, it’s not quite so simple. v. 1/2. Test your knowledge - and maybe learn something along the way. They are usually developed by OEMs (original equipment manufacturers) who buy a computer from … Turnkey definition, a person who has charge of the keys of a prison; jailer. I work with many buyers and these homes are the most desireable. Turnkey means that the project manager will only have to turn a key to have the business or project up and running. A turnkey commercial space may be your solution. Turn-key is a term used by real estate agents to indicate that a home is move-in ready. “Turnkey.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/turnkey. The People’s Choice 2020 Word Of The Year: 2020 Was A $#@#%%$@! Turn-key is a term used by listing agents in marketing remarks to indicate that the home is move-in ready. 1. someone who guards prisoners Familiarity information: TURNKEY used as a noun is very rare. Although not every project has a literal key, it is figurative. One item I usually ask each landlord about is the blow dryer. "Wery probable," says the turnkey, smoking his pipe wery fierce, and making believe he warn't up to wot the little man wanted. The term "turnkey" is based on the concept of only needing to turn the key to unlock the doors to begin operations. A turn key home is essentially what it sounds like, a home where you can turn your key in the lock and move right in. Why Do “Left” And “Right” Mean Liberal And Conservative? Turnkey systems include all the hardware and software necessary for the particular application. The term implies that the end user just has to turn a key and start using the product or service. complete with linens, dishes and silverware. As several have relayed here Turn Key is a Realtor phrase which is supposed to mean the home is clean and ready to move in with little or no repairs needed. © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins turnkey: 1) Turnkey is a product or service that is designed, supplied, built, or installed fully complete and ready to operate. A turnkey listing, regarding commercial real estate, is a commercial space that is mostly or wholly prepared for occupancy. An example typically used is in a… Turnkey, also spelled as Turn Key and Turn-key, typically means “Ready to use”. 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. How Does a Turnkey Business Work? A computer system that has been customized for a particular application.The term derives from the idea that the end user can just turn a key and the system is ready to go. A construction contract in which the price is fixed at the time the contract is signed. Many Banks have taken back homes and rehabbed them and put them on the market. Turnkey construction contracts reduce the risk to the buyer of the construction services and provide an incentive for the company to stay within budget.

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