Ben Menahem, Senior Associate in our Residential Real Estate team, was quoted in the Telegraph this week, sharing his thoughts on families who have inherited retirement flats now facing double council tax charges.
Ben commented:
“growing number of home owners are finding themselves caught in an increasingly challenging position when it comes to inherited properties – particularly retirement flats. These properties, often seen as niche investments, have become harder to sell due to high service charges, restrictive lease terms, and changing market preferences.
At the same time, many of these homes are now subject to double council tax if left unoccupied, compounding the financial strain on owners. Many also feel it is the antithesis to the root and purpose of the 1990s tax which was introduced to cover services utilised.
It would be unreasonable to place the entire burden of a wider housing market downturn or the specific decline in demand for retirement flats on individual homeowners.”
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