Turnkey Project

Definition of "Turnkey project"

All the new tenant has to do is "turn the key" to the apartment or office in a newly constructed building because everything is completed and ready for occupancy. For example, Brian moves into a new building and the apartment is fully in condition as far as the landlord's responsibility is concerned. Brian only has to buy personal items.

Search Real Estate Glossary

Related Real Estate Glossary terms

Market Assistance Plans (maps)

Voluntary state insurance programs that aid small businesses in acquiring insurance coverages when t ...

Effective Annual Yield

Real rate of interest on a loan. It is the coupon rate divided by the net proceeds of the loan. Assu ...

Mobile Home Park

Site where mobile homes are located. Mobile home parks are often mandated by municipal zoning laws. ...

Veterans Administration Mortgage

Mortgage guaranteed up to 30 years by the Veterans Administration to veterans meeting minimum requir ...

Graded Premium, Whole Life Insurance

Coverage under which initial premiums are less than normal for the first few years, then gradually i ...

Mortgage Payment

The payment of principal and interest made by the borrower. ...

Related Real Estate FAQ

What Is A REALTOR®?

A REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affi ...

What Is A Fixed-rate Mortgage?

A fixed-rate mortgage is a type of mortgage in which the interest rate is fixed for the life of the ...

What Is A Commitment Letter?

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which ...

How Big Is An Acre?

An acre is an area of land equal to 43,560 square feet. For visuality purposes, an acre is most oft ...

What Type Of A Home Is A Condominium?

A condominium is a form of home ownership in which the owner owns the airspace within the walls but ...

What Is A Subdivision?

A subdivision is a piece of land divided into several plots in which homes are built. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Mortgage Loan Types How Does The Home Loan Underwriting Process Work? Real Estate Open House - The Dos and Don 5 U.S. Cities with the Best Public Transportation What is Escrow and how does it Work?

FAQ

What is a buyer’s agent? What is a debt-to-income ratio? What do I need to know about Homeowners Insurance? Should I Pay Extra Each Month? What is a mortgage broker?