Building maintenance has become an invaluable process in the field of the built environment with the purpose of retaining building value and quality. Life Cycle Cost (LCC) is important in the maintenance field as it can reduce maintenance costs without affecting the performance of services. However, the application of LCC in this country is limited due to a lack of awareness and knowledge about LCC. This research intends to identify the components of LCC and its impact on the maintenance performance of lift systems in high-rise residential buildings. Lift systems are important for high-rise buildings to transport occupants from the ground floor to upper floors but most lift systems have not been effectively managed and maintained in Malaysia, which has resulted in severe injuries to users and even death. Yet, there is a lack of data regarding high-end high-rise residential buildings. Hence, this research will focus on lift systems in high-end high-rise residential buildings. A mixed-method approach has been adopted whereby questionnaires were distributed to building managers of high rise residential buildings in Klang Valley and interviews were conducted with building managers from the selected case studies. With the application of LCC, the maintenance team can consider all the LCC components of the lift system during the decision-making process and improve the maintenance performance of the lift system by having lower breakdown rates, fewer complaints received and quicker response times.