The HMO Success Podcast with Wendy Whittaker-Large

SPECIAL EPISODE - We Won Our Fight Against Council Tax on HMO Rooms!

I am SO delighted to be releasing this podcast episode (even whilst away on holiday) as I just HAD to share the amazing news of our campaign win. 

In the extraordinary 2 years since we set up the HMO Council Tax Reform Group, so much has happened, but we are excited beyond measure that our campaign has landed and the Government is changing its approach to banding individual HMO rooms for Council Tax. 

In today’s unedited and special episode, I’ll explain exactly what the government has said, and a few questions that still remain to be answered! Overall the news is fantastic for HMO tenants and landlords. We still have some work to do in tidying up what has been going on for the last few years. But we’ll get there! 

“Never doubt that a small group of thoughtful committed individuals can change the world. In fact, it's the only thing that ever has." Margaret Mead

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Official Press Release

Government set to axe multiple council tax bills on HMO properties

End of  the ‘Tenant Council Tax’

Welcome news has emerged that the Government is changing the law on council tax being imposed on individual rooms in Houses of Multiple Occupation (HMOs) .

This change in the law will protect tenants in HMOs from being taxed on their bedrooms and returns to principles on which the council tax was established.

Earlier in the year the Government announced an accelerated consultation on  reforming council taxation of HMOs after thousands of landlords and tenants were being adversely affected by a Valuation Office Agency policy of making individual bedrooms in shared houses liable for council tax. The policy increased the council tax payable by an HMO by many thousands of pounds, often making continued use as an HMO unaffordable.

The Government has now announced the outcome of the consultation and is pledging to change the law by the end of the year.

The Govt stated: “The amendment to legislation will ensure that HMOs will be valued as a single property, creating consistency in the sector, and provide certainty for councils and households moving forward. This should also help ease administrative burdens for councils as the council tax liability should remain with the landlord in the usual way, rather than moving to individual tenants who may only occupy the property for a short period of time.”

These changes will reverse a policy  by the Valuation Office Agency on taxing HMOs first put into practice in 2015 whereby  randomly selected properties were being hit with multiple bills, one council tax bill for every bedroom, making the house liable for seven or eight times the original tax.

Variously dubbed ‘Poll Tax Mark II’ ‘Bedroom Tax Mark II’  or the ‘Toilet Tax’ (when applied to en-suite bedrooms) the practice only targeted selected HMOs. Mistakes in law and fact were rife with, in some cases, cupboards and utility rooms being made liable for council tax bills.

The impact of the policy has been to drive out tenants unable to meet the bills, cause overcrowding and in some cases forcing the closure of  entire HMOs, reducing the supply of available accommodation  for tenants on low and middle incomes.

In other cases landlords were being  suddenly chased  for multiple bills by councils and debt collecting companies  collecting the tax.

Effectively, this will protect both landlords and tenants  from excessive tax demands living in HMOs and prevent rooms without washing or cooking facilities being banded as flats with individual flats liable for tax.

This has been hailed as a victory by the HMO Council Tax Reform Group  who have been campaigning tirelessly for this practice to end. 

Alan Murdie, legal advisor and barrister for the group commented ‘This is excellent news in so far as it indicates that the government has recognised that VOA policy needs to view HMOs as a single property. We wait to see the implementation in practice.’

Wendy Whittaker-Large and Daryn Brewer said ‘Landlords and tenants will be hugely relieved to see this change happening. No longer will there be any question about council tax and who is responsible for paying. It will be the landlord’s responsibility to pay one bill for the whole property. We are delighted to have won this ongoing fight for the whole HMO sector’

Matt Baker added ‘This gives certainty for the development of new and quality HMOs which is a huge help to the supply of much needed housing’ .    

The committee consists of Daryn Brewer, Alan Murdie, Matt Baker, Neil Chadda, Robert Johnson and an admin team and myself, Wendy Whittaker-Large.

 

https://hmosandcounciltax.co.uk/ 

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Government Response to Consultation: 

https://www.gov.uk/government/consultations/council-tax-valuation-of-houses-in-multiple-occupation-hmos/outcome/council-tax-valuation-of-houses-in-multiple-occupation-hmos-summary-of-consultation-responses-and-government-response

 

Kirsty Darkins MRICS
E: kirsty@kdcommercial.uk
W: www.kdcommercial.co.uk

About Kirsty ...
I am a Chartered Surveyor by profession, starting in property in 1999 at an independent firm Innes
England in Nottingham. During my career I have worked for blue chip companies including Boots,
CBRE and Hammerson. I have a broad range of property and business experience having
managed multi million commercial and residential property portfolios across the UK and Ireland for
over 20 years. Over the last 6 years I have built my own consultancy business and portfolio of
commercial property investments including retail, office and mixed use properties.

I took a career break in 2014, travelled in Europe and did a lot of self-development education. This
was the beginning of my transition from property professional to property investor. Having achieved
my professional goals I knew that working for someone else exchanging time for money was no
longer what I wanted to do. In 2016 I set up my own property consultancy and began investing in
apartments on a Rent to Rent basis in Nottingham running them as Serviced Accommodation. I
also launched Progressive Property Network, a monthly network meeting in Birmingham and have
built a strong investor network and contact base as a result.

Today I have a twin focus, my commercial property consultancy KD Commercial and building my
own commercial property investment portfolios with my business partners Jamie MacPherson in JK
PropCo for commercial investments and Jon Ballard in Wem Commercial for commercial and
mixed use developments. I have also transferred my pensions to a SIPP investing jointly with other
SIPP investors in commercial property flips.

A Englishman Down Under Creating Roomy Houses - the Aussie Version of HMOs

 

Neil Gibb is the passionate founder and managing director of The HMO Property Co, dedicated to transforming the property market and making a meaningful difference in people's lives. With a strong sense of compassion and determination, Neil recognized the housing stress and limited opportunities faced by many in the Perth property market, leading him to establish two businesses aimed at providing affordable accommodation options for West Australians and lucrative investment opportunities for investors across Australia.

 

Neil takes tremendous pride in the fact that his vision has already provided homes for over 650 individuals with another 260x rooms in the pipeline. However, his mission doesn't stop there. Through successful property investments, subdivisions, and new builds, Neil and his team have empowered more than 200+ investors, delivering an average 15% return on investment and positive gearing of approximately $20,000 per annum.

 

What truly motivates Neil each day is the desire to revolutionize the way we live. He firmly believes in the power of sustainable living options, fostering strong communities, and embracing social responsibility. By adhering to these principles, The HMO Property Co is changing the world, one property at a time.

Whether you're an investor looking for cashflow positive income or an individual seeking a stylish, affordable, and secure place to co-habit with others, Neil and his team at The HMO Property Co are committed to supporting you every step of the way. They offer comprehensive guides on HMO investing, consultations, and are ready to embark on this incredible journey together.

With Neil's leadership and unwavering dedication, The HMO Property Co is creating a future where real estate not only thrives but also positively impacts the lives of countless individuals. 

HMO Success Podcast Episode 98 - SHORT - Is the Property Investor Show worth going to?

 

Short episode reviewing my recent trip to London where I hosted a panel on the Dos and Don'ts of High End HMOs. 

HMO Success Podcast Episode 97 - Creating a Pipeline of Deals - 4 - Persistence

 

This characteristic is oh so necessary if you are going to be successful in life as well as property! Too may people give up right before the victory is about to happen! Don't let that be you!

I've got some sage advice and encouragement if you feel that you are working hard and nothing much is happening. This happens to every investor from time to time. 

Listen now if you feel stuck and need a push to keep going even when things are tough!

HMO Success Podcast Episode 96 - Creating a Pipeline of Deals - 3 - Paperwork

In the third episode in this series, I will walk you through the PAPERWORK and what questions you need to ask a vendor to identify whether a deal is possible - and to identify what kind of a deal is possible. By ensuring you have all the right questions to hand, you will find out the key data that you need to crunch the numbers and make an offer. The paperwork is vital so that you collect the right information, understand the position and reasons of the vendor, and then can go back with a reasonable offer (whether this is for a rent to rent, lease option or delayed completion to name but three). You also need to know what paperwork to produce to move the process forward and at what stage you're ready to involve your legal team. 

If you're new to working directly with vendors, this episode will help you as you ask questions and negotiate with a vendor, and will take you step by step through what you need to know, how to collect and retain the data, what paperwork you need to give to the vendor, and how to ensure you don't fall into the trap of making offers on the spot! 

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For more information, guidance and support to help you invest in HMOs and create a profitable property portfolio, please head on over to my website www.hmosuccess.co.uk

You'll find some free downloads to learn about HMOs as a high cashflowing strategy and how you can get started with very little money. If you want to learn more about my amazing tips which I compiled to help people just like you, you can get your own copy of my '101 Essential Tips for Running a Professional HMO' here -

https://www.hmosuccess.co.uk/101-book-pp

(Just pay postage and packing). 

My facebook group is a lively community of HMO investors where you can find tips and tricks to investing in HMOs and you can join here

I look forward to hearing from you!

Wendy

 

https://fwfozt-free.10to8.com/

HMO Success Podcast Episode 95 - Creating a Pipeline of Deals - 2 - Perception

Part 2 - How do others perceive you and how do you perceive others? Perception is the art of gathering multisensory data and using it to shape your interactions with others. 

In a property transaction, this skill will allow you to navigate complex negotiations and understand the other side's needs and desires. It will help you create a win-win (where there is one) and make offers on any property. 

This episode is part of my mini series and sits under step of Find It!

HMO Success Podcast Episode 94 - Creating a Pipeline of Deals - 1 - Process

Welcome to my mini series about how to create a profitable HMO portfolio. Over the next few weeks I will be uncovering my Five Step System

1. Find It
2. Fund It
3. Finish It
4. Fill It
5. Future-Proof It

 

And we start today with Find It. 

In this mini series, this first episode breaks down the first fundamental process to master - Finding Deals. If you can't find deals, you will struggle to build a property empire!

Today I go over the first step which is having a Process. I explain why having a campaign is vital for you and why many investors fail. I also go over the four steps to Finding Deals (which I will be covering in future episodes). By breaking it down I hope to help you gain bitesize knowledge about how to grow your income from HMOs. 

Please subscribe to the podcast so you don't miss an episode and bookmark the website so you can go back again and again! 

 

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For more information, guidance and support to help you invest in HMOs and create a profitable property portfolio, please head on over to my website www.hmosuccess.co.uk

You'll find some free downloads to learn about HMOs as a high cashflowing strategy and how you can get started with very little money. If you want to learn more about my amazing tips which I compiled to help people just like you, you can get your own copy of my '101 Essential Tips for Running a Professional HMO' here. (Just pay postage and packing).  https://www.hmosuccess.co.uk/101-book-pp

I look forward to hearing from you!

Wendy

To book a FREE 30 minute consultation on anything HMO related please go here: 

https://fwfozt-free.10to8.com/

 

 

HMO Success Podcast Episode 93 - How Rent to Rent transformed my life! With Stephanie Taylor of Rent 2 Rent Success

Stephanie Taylor is a property investor, Co-Founder of award-winning property management and development company, HMO Heaven, and Co-Founder of Rent 2 Rent Success which has inspired thousands of non-traditional investors to get started in property.

Along with sister and business partner, Nicky, they grew their property management business quickly and bought their own multi-millon pound portfolio of multi-unit blocks, commercial property and HMOs.

Voted Inspirational Person of the Year 2021, Stephanie has been featured on the BBC, Entrepreneur, Business Insider and The Telegraph. She is author of the number 1 best-selling book Rent 2 Rent Success and Host of The top 1.5% Rent 2 Rent Success Podcast.

After decades of thinking that business and wealth were not for her, she is now a passionate advocate that ethical property investment is open to everyone, starting at any age. 

Get a free copy of the Rent 2 Rent Success Book

Pretty link: https://rent2rentsuccess.com/hmosuccess
Ugly link: https://go.rent2rentsuccess.com/freebook?gclid=hmosuccesspodcast

HMO Success Podcast Episode 92 - HELPING EXPERTS TO CREATE AN IMPACT! - Kylie Anderson

 

After a lovely month away in Singapore and Australia I am back and raring to go! I am excited to be back in the podcast hot seat and ready to share more fabulous guests, relevant content and amazing knowledge. Today's guest just happens to be Australian herself, so I was thrilled to have her on my podcast. She has a wealth of expertise when it comes to using the knowledge you have to create additional streams of income - something many property investors yearn to do. 

On Thursday September 14 2023, Kylie is hosting her inaugural Iconic Wealth for Women event in Central London (where I am speaking) and we would love to meet you there. For tickets please go to https://www.iconicwealthforwomen.com/iww-event

It's a one day event where you will be spoiled - and nourished - both mentally and physically! 

There's a host of exceptional speakers and panel sessions, and I know you will find this day inspirational and educational no matter where you are along your journey to wealth. 

For more about Kylie and her services please visit her website - https://kylieandersoncoaching.com/

You can contact her on kylie@kylieandersoncoaching.com

I do hope you can make it on 14th Sep and if you're coming alone - why not bring a friend too?