What is the Difference of Tenant Turnkey VS Tenant Turn?

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Crystal SmithPro Member
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Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
2y
Quote from @Jayvelyn Carbonel:

I am torn with the difference of the two. Anyone who wants to do some explaining here?


 Turnkey means ready to occupy with tenants with little to no $ required for improvements and/or repairs.

Tenant turn refers to what's required when a tenant moves out and a home or apartment has to be cleaned/repaired/updated before turning it over to the next tenant.

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  • Greg ScottPro Member
    Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
    2y

    I don't think there is an official definition of those terms by any organization with the authority to define them.  I'll give you my impression.

    Turnkey is typically used when you are buying a property that is already rehabbed and often with a tenant in place.  I've never heard anyone combine it with Tenant.

    Turn is what you do to fix up a unit between tenants.  Again, I've never heard anyone combine it with Tenant.

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  • Chris ClothierBusiness Member
    Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
    2y
    Quote from @Jayvelyn Carbonel:

    I am torn with the difference of the two. Anyone who wants to do some explaining here?


     Are these companies you are asking about or operation terms?  Any additional insight would be helpful.

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  • Crystal SmithPro Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes
    2y
    Quote from @Jayvelyn Carbonel:

    I am torn with the difference of the two. Anyone who wants to do some explaining here?


     Turnkey means ready to occupy with tenants with little to no $ required for improvements and/or repairs.

    Tenant turn refers to what's required when a tenant moves out and a home or apartment has to be cleaned/repaired/updated before turning it over to the next tenant.

    312-681-7487
    1Reply
  • Michael Dumler
    Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
    2y

    @Jayvelyn Carbonel

    Turnkey = property is rent-ready 

    Turnover = property needs cosmetic improvements/updates 

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  • Jayvelyn Carbonel
    OP
    Specialist · MI · Member since 2024 · 15 posts · 6 votes
    2y
    Quote from @Crystal Smith:
    Quote from @Jayvelyn Carbonel:

    I am torn with the difference of the two. Anyone who wants to do some explaining here?


     Turnkey means ready to occupy with tenants with little to no $ required for improvements and/or repairs.

    Tenant turn refers to what's required when a tenant moves out and a home or apartment has to be cleaned/repaired/updated before turning it over to the next tenant.

    Thank you for this.

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