What Is A Turnkey Property?

In real estate, turnkey properties, or turnkey housing, refers to a property that is move-in ready and doesn’t require any repairs or remodeling. Essentially, turnkey housing makes moving much easier, especially when they come pre-furnished. Turnkey properties are also ideal for investors who appreciate the "hands-off" management of a rental home because they require less upkeep. When you need a simple, quick solution to your moving problems, consider turnkey housing for some easy living. Stay with CHC offers several housing options made for the individual business person or an entire family. See what properties we have available below!

short term housingHow does turnkey housing work?

Turnkey properties grew in popularity after the recession of 2008 because of how cheap homes were going for. Today, buying is 30% less expensive than renting and investors are really reaping the benefits of turnkey housing. Likewise, homeowners seek this type of housing when they’re working with a limited budget or don’t have the resources to carry out renovations. 

How it works is either an investor or a potential homebuyer will purchase a newly remodeled home that is already painted, landscaped, upgraded, and sometimes furnished. Because the home has recently undergone maintenance, the buyer gets to save on various expenses such as holding costs and repairs. Basically, the price you see is the price you’ll pay because the home comes move-in ready. 

How do you know if a turnkey property is right for you?

There are several reasons people seek out turnkey properties including the investment opportunity and possible financial savings. But how do you know if turnkey housing will be the best option for you? To start, consider the following:

Are you a busy real estate investor? 

Typically, real estate investors have little time to devote to managing the maintenance of their properties. Fortunately, turnkey properties are low-maintenance investments that bring in added revenue with little effort on the capitalist’s end.  

Do you have a strict budget?

For homebuyers who have a limited budget, turnkey properties are an ideal option to consider. They require almost no additional costs - the price that’s listed will be the price you pay. Surveys have even found that 44% of buyers who purchase fixer-uppers end up overspending on renovations by about $25,000.   

How do you feel about home improvement?  

Home improvements are a big deal when you become a homeowner. You can either take on the challenge of performing the repairs yourself or hire a professional to do it for you. But, whichever path you choose, just know that owning a fixer-upper is either costly or very time-consuming. 

Turnkey Housing in Reno, NV

When it comes to relocating to a new city or state, look to Stay with CHC for the most comfortable stay. We provide fully furnished turnkey housing complete with washer and dryer, kitchen and dishware supplies, cable and wifi, and all your other home necessities. Family and individual corporate housing shouldn’t have to be a hassle when you’re staying in a great city. We strive to provide high-quality accommodations that help you feel like you’re home. 

Getting ready to move to a new place? Consider turnkey housing for comfortable, easy living, and contact StaywithCHC today to learn more about our affordable housing options!

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