What Does the Term Turnkey Mean on a Real Estate Listing?

The world moves fast. In the world of digital communication, social media, and the Internet, business ideas can move from conception to life very quickly. Leasing a traditional office space, however, can take some time, especially if there are necessary improvements before the new client can begin business in their new office space. How then, do you find an office rental to accommodate your needs if time is of the essence? A turnkey commercial space may be your solution.

“Turnkey” is a term often heard when renting a commercial space, but what does it really mean? A turnkey listing, regarding commercial real estate, is a commercial space that is mostly or wholly prepared for occupancy. This means that many or all features of the space are in place and in working order.

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The scope of the definition “turnkey” is all-encompassing. A turnkey property is ready to move into immediately. There is no waiting period to use the property for its intended use on a turnkey property. This is ideal for many different categories of interest in commercial office space. Individuals not heavily experienced with leasing commercial space, industries looking to gauge potential business in each geographic area, startups, and investors are just some who might be interested in a turnkey office space.

You may be asking yourself, “Isn’t that just like co-working spaces?” While these terms are often erroneously used to mean the same thing, turnkey office space is not the same as a co-working space. Turnkey office rentals offer partially or fully outfitted accommodations, like a co-working space would, without the need to share your office space with others.

When specifically referencing commercial space, as opposed to residential, turnkey can also reference the inclusion of everything needed to accomplish the tasks that the space is intended for. As an example: a turnkey tech listing may include lab benches, fume hoods, casework, and more. It’s best to consult with a property manager regarding specifics when renting an office.

A property management firm can also help you decide if a turnkey commercial space is the best fit for your needs. While it isn’t right for everyone, renting a turnkey office space can be a good fit for several reasons. Turnkey offices often have very quick move-in times. If you are looking to have your office up and running shortly after finalizing all the paperwork, a turnkey listing might be best for you. This option is also ideal for business owners who do not want to go through the process of researching, bidding out, and purchasing furniture or equipment.

Whatever your situation, Cummings Properties has the expertise and insight to help you make the best decision you can for you and your business. Give us a call today to get started. You can reach our office at 781-935-8000.