Vetting a Turnkey Property Company

March 5th, 2024

It’s just as important to shop for a great turnkey property company as it is to shop for a great turnkey rental property. Not all turnkey property companies are the same, so you should learn how to properly vet any companies on your short list to work with. You’ll need to conduct due diligence and use discretion when looking for the turnkey property company where you’ll buy rental properties. Ideally, you want to choose a company that has a good reputation and who will be there in the future as you expand your real estate investment portfolio. Think of choosing a turnkey property company as entering into a long-term relationship that will serve your real estate needs over and over again. 


What is a Turnkey Property Company?


A turnkey property company offers turnkey investment properties that provide you, the owner, with a house that’s been renovated and is ready to be rented out. The idea is that the tenant covers the expenses of ownership such as mortgage, property taxes, insurance, HOA fees and property management fees. The home is ready to be occupied. 


The Perils of a Doing it Yourself


If you’re buying a property off the MLS with ambition to make it an occupied, cashflowing rental investment property, be prepared for a lot of work. You now have a second job. You have to:


 – identify a property in a good area

 – accurately (and quickly) determine what level of renovations to complete

 – submit offers (often thru a realtor) to buy the property

 – wait for your offer to be accepted or rejected

 – interview , select and manage the construction team (and pray they show up to work)

 – determine if your rent numbers are accurate once the construction is complete 

 – get professional photos once complete

 – advertise the property for rent

 – collect applications from prospective tenants

 – conduct applicant background checks

 – verify applicant employment

 – find and hire a property management company (unless you plan to do it yourself)

 – get occupancy certificates from the city

 – and much, much more….


Whew! We’re tired just writing the list. Imagine having to do all that, plus do your full-time job and take care of your family! That’s why a lot of people say they don’t want to be a landlord, and we don’t blame them. We don’t want that life, either, for ourselves, or for you. That’s why MartelTurnkey does things differently.


MartelTurnkey Offers Passive Income, Not Just a Turnkey Property


At MartelTurnkey, we say that our success has a lot to do with the processes we have in place and the teams we have on the ground. We have been refining the process for 8 years!  Each house is managed by a professional PM team who are responsible for securing a tenant. They take the photos, they advertise and they vet the applicants to make the best selection. When you take ownership, the tenants on the lease become your tenants, and the property management company works for you. You can go on with your life while collecting passive income. It goes straight into your bank account every month. No dealing with tenants, no late night calls for random issues, and no hassle. 


How to Vet a Turnkey Property Company


Vetting a turnkey property company involves a few steps, but don’t worry; they’re easy. We’ve outlined what to look for in a great turnkey property company:

1. Principals Have a Background in Real Estate


Why? Because anyone and their cousin can make a website and call themselves a turnkey property company. That doesn’t mean they know the first thing about real estate. 


The Martel family has been studying and working in real estate for over a decade. We live and breathe real estate all day long (and then some!). You can trust us to know what we’re talking about!


2. Great Reputation


If there’s anything good that came out of the internet, it’s that word gets around. It’s harder for companies to get away with scams and bad service, since reviews are posted online and people talk in forums. Obviously, there are going to be trolls, bad actors and naysayers, many of whom have never even worked in real estate, or who are just trying to knock out competitors. But you want the majority of the online chatter to be positive.


We’re proud of the outstanding reputation we’ve earned at MartelTurnkey. We have several hundreds of satisfied clients who are, at the very moment, happily collecting passive income from turnkey properties they bought from us. Much of our business comes from referrals and repeat buyers which we truly appreciate.


3. Transparency


Too many turnkey property companies hide things from potential clients. We’ve done our own due diligence, checking out what our competitors do, and we often hear about the challenges of reaching a live person. You should be able to call the company, speak with a real person (not a chatbot), and get answers to all your questions without having to give up all your own personal information. Data mining isn’t our business. Delivering the chance for passive income is.


At MartelTurnkey, it’s easy to schedule a call and you’ll be talking to a MartelTurnkey employee or Martel family member. All you have to do is reach out. 


4. Passive Income, Not Just Turnkey


Look for a company that goes the extra mile and sells turnkey property that offer passive income, not just the property itself. Okay, this is cheating a little bit, because, frankly, MartelTurnkey is one of only a few that offers turnkey properties with leased tenants in place and a 3rd party property management company attached. 


5. Quality Renovations


There are Instagram level renovations and then there are quality renovations. Too many so-called turnkey property companies slap some paint on the wall and call it a day. Our construction teams understand our model and work to meet our standards and that of the community. 


The turnkey property company you choose will hopefully be your investment partner for many years to come. Take your time to select the one that will best serve your investment needs. At MartelTurnkey, we take great pride in the fact that we hit all the marks for the best turnkey rental companies. If you’d like more information about our company, our properties or anything else about turnkey rental investments, please feel free to contact us. We look forward to hearing from you soon and we will take great care to help you reach your goals.

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