No Property Maintenance Costs
Lifetime Owners are entitled to the peaceful enjoyment of the property. Any decoration or renovation of the property falls to the Lifetime Owner as well as any living costs associated with the property such as council tax and utility bills.
There are investor responsibilities, such as ensuring the buildings insurance is maintained and liaising promptly with the Lifetime Owner when necessary, but these responsibilities can be completely taken care of by our property management service.
All Life Tenancy investments include a property management package as standard, at a small annual fee. Property management allows us to handle all aspects of your investment on your behalf, such as:
- Liaison with the Lifetime Owner
- Providing guidance to the Lifetime Owner on their obligations
- Conducting property inspections in line with the terms of the Life Tenancy.
So not only does the investment cost you nothing to maintain, you also make further savings as Life Tenancies are exempt from the 3% Stamp Duty surcharge levied against second homes. Read more about how Stamp Duty impacts Life Tenancies here.