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Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the customer, upon receiving the product, just needs to turn the ignition key to make it operational, or that the key just needs to be turned over to the customer. [4]
Some turnkey properties are even furbished and equipped with modern comforts. There are zero demographic requirements for US applicants; these can be people of all ages, pensioners, remote workers ...
On April 1, 2021, Vacasa finalized the acquisition of TurnKey Vacation Rentals, adding more than 6,000 U.S. properties to its portfolio, and bringing its total property count to more than 30,000 units. [28] On August 24, 2022, Vacasa announced former Expedia executive Rob Greyber will succeed Matt Roberts as CEO. [29]
"When staging a home for sale, most guides will tell you to simply paint everything white, but luxury home buyers are looking for turnkey properties that look and feel designed, not institutional ...
Various abbreviations used for this type of contract are LSTK for lump sum turn key, EPIC for engineering, procurement, installation & commissioning and EPCC for engineering, procurement, construction and commissioning. Use of EPIC is common, e.g., by FIDIC and most Persian Gulf countries. Use of LSTK is common in the Kingdom of Saudi Arabia.
I am very supportive of Project turnkey, a statewide initiative that provides funding to turn vacant or abandoned hotels or other blighted commercial properties into transitional or permanent housing.