Who is Responsible for the Maintenance of a Life Tenancy Property?
The responsibility for of Maintenance for a Life Tenancy Property is one of the great benefits:
There are several unique features with Lifetime Tenancy property and this is a big one. The investor has no liability to the maintenance of the property, in any shape or form, none at all, that responsibility lies with the Life Tenant and forms part of their contract, which is registered at the Land Registry.
So the Tenant is Responsible for the Maintenance of a Life Tenancy Property?
Everything from blocked drains to a new roof is the responsibility of the Life Tenant. For the investor who may be miles away or maybe even living overseas this means no more phone calls at 3am when there is a broken washing machine, a door is jam or the boiler is on the blink. This really is one of the main headaches we regularly hear BTL landlords complain about. With Lifetime Tenancy this is not an issue at all, as the Lifetime Tenant is responsible for all maintenance, no matter how big or small.