Knowledge · 12 min source
How Specialist Supported Living Works
Audience: Investors · advisers
Explains the SSH model: investor ownership, specialist operators, long occupational leases, FRI themes, CPI-linked reviews and why illustrative yields are not guarantees.
Key points
- Income depends on lease performance and counterparty quality
- FRI / repair and insurance allocations must be read in the executed lease
- CPI / CPI+ reviews are formula-driven and may include caps and floors
- Bhenito coordinates education and documentation — not regulated advice of record
Diligence questions
- Who is the lease counterparty and what is the residual term?
- What does the FRI schedule actually allocate to landlord vs tenant?
- Are there break clauses, rent freezes or commissioning dependencies?
Risk themes
- Regulatory and commissioning change
- Operator / counterparty performance
- Liquidity and exit uncertainty
