Turnkey refers to something that is immediately ready to use, usually used for the sale or delivery of goods or services. The word is an indication that the customer, after receiving the product, must simply turn the contact key to make it operational, or that the key must be handed over to the customer. [2] Turnkey is often used in the construction industry, for example when it comes to the pooling of materials and work by the builder or general contractor to complete the house without the owner`s involvement. The word is often used to describe a house built on the developer`s land, with developer funding ready to move in for the client. When a contractor builds a “turnkey house,” he frames the structure and finishes the interior; It`s all over to the cabinets and carpets. Turnkey is also commonly used in motorsport to describe a car that is sold with a powertrain (engine, gearbox, etc.) unlike a vehicle that is sold without a vehicle, so that other components can be reused. The key-in-hand term is more or less synonymous with “design and construction,” “package contact” and “design contractors.” These are the most popular types of contract management system in the large construction industry. Real estate is defined as a ready-to-use home or property for the intended purpose, i.e. a home that is fully functional, does not need modernization or repair (a recommissioning).

In the commercial field, a building designed for car repair would be defined as turnkey if it were fully equipped with all the machinery and tools necessary for this specific trade. [Citation required] The turnkey process includes all stages to open a site, including site selection, negotiations, land use planning, work coordination and complete installation. “Turnkey-Real Estate” also refers to a type of investment. This process includes the purchase, construction or rehabilitation (of an existing site), renting to tenants, and then selling the property to a buyer. The buyer buys an investment property that generates a revenue stream.