‘There is no conformity at all‘
In this episode, David shares the current situation nationwide concerning banding for council tax of HMO’s.
The legislation allows for the ‘discretion of the assessing officer’ and there is now a lack of conformity across authorities.
If you are a deal packager or deal sourcer this podcast has vital information that you need to know about, Listen in now
KEY TAKEAWAYS
BEST MOMENTS
‘I don’t want to sell a deal based on council tax for the building and then suddenly the investor finds the VOA re-evaluating each room individually for council tax’
‘If you have a 2 or 3 storey property with a kitchen on each floor you may be banded independently for each room or you may not be’
VALUABLE RESOURCES
Property Sourcing Profits Podcast
https://www.progressiveproperty.co.uk/
https://unlimited-success.co.uk/
https://www.facebook.com/groups/progressivepropertycommunity/
ABOUT THE HOST
David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.
In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.
The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.
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