Definition of turnkey
Turnkey, also spelled as Turn Key and Turn-key, typically means “Ready to use”.
It refers to an object that is designed, supplied, built, installed, commissioned, fully complete and ready to use or operate.
Turnkey implies that the end user just needs to ‘turn the key’ to make the object functional, operational or usable. Turnkey object could be a facility, system, program, infrastructure etc.
The word turnkey most commonly used in Real Estate and Construction industry.