Are all leasebacks new building developments?
No. The majority are new constructions or totally refurbished developments defined as new. However some resale leasebacks are available. These are subject to exactly the same tax treatment and leaseback contracts as a new build other than the VAT on a resale will be c.5-7% rather than 19.6%. Who will look after my property during the Leaseback period? The management company manage all of the properties on the development and, because of the high standards required, all properties and their grounds are maintained in perfect order during the 9 year or 11 year period. The added benefit of these schemes is getting the property fully furnished and fitted with kitchen and bathroom appliances, and knowing that your property is not left empty and unattended for weeks or months at a time. Who is responsible for paying all the bills during the Leaseback period? All the bills are paid for by the management company. They are responsible for all rental management costs, utility bills, and the upkee
