What is a Turnkey Property?

An essential property management term

A Turnkey Property is a home (single-family residence, duplex, or apartment) that is ready for a tenant to move into from day one. Necessary renovations and repairs have already been done, meaning you can place a tenant in the home immediately. Turnkey properties are gaining in popularity because they offer investors the opportunity of passive income without the hassle of dealing with a fixer-upper.

Pros of Turnkey Properties

Does Turnkey mean no work is needed on the property?

No, Turnkey means the property is livable and ready for a tenant to move in. It does not mean that the property is perfect. There may still be some things that need attention.

How do i know if a turnkey property is a good deal?

Just like with any property purchase, you must take due diligence very seriously. Hiring a home inspector to conduct a professional home inspection is highly recommended.

Do turnkey properties come with tenants?

It depends. Some turnkey properties come with tenants already in place. Others are vacant, allowing you to choose your tenants.

Are turnkey properties only for new investors?

No, turnkey properties are for novice and seasoned investors. This type of investment attracts investors of all experience levels due to its simplicity.

Keep Your Passive Income, Passive

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