19 Glenhill Close, London N3 2JS LON/00AC/F77/2024/0242
DECISION
The sum of £1,120 per month will be registered as the fair rent with effect from 30 September 2024 being the date the Tribunal made the Decision. ____________________________________ © CROWN COPYRIGHT 2023 FIRST - TIER TRIBUNAL PROPERTY CHAMBER (RESIDENTIAL PROPERTY) We exercise our powers under Rule 50 to correct the clerical mistake, accidental slip or omission on the front page of our Decision dated 3 October 2024. Our amendments are made in red. We have corrected our original Decision because the previous rent determined by the Tribunal on the 13th December 2021 was £940.00. This amendment does not affect the calculation of the Registered rent in accordance with the decision dated 30 September 2024. SUMMARY REASONS Background[1]Following an objection from the Tenant to the determination of a fair rent by the Rent Officer, the Tribunal has made a determination under the Evidence[3]The Tribunal has consideration of the written submissions from both parties together with the Rent Officers calculations for the current registered rent. Determination and Valuation[4]Having consideration of our own expert, general knowledge of rental values in the Finchley area, we consider that the open market rent for the property in a good and serviceable condition would be in the region of £1750 per month. From this level of rent we have made adjustments in relation to: partial white goods, no carpets or curtains, no central heating, secondary glazed windows and terms of the tenancy which equates to approximately 20%[5]The Tribunal has also made an adjustment for scarcity at 20%[6]The full valuation is shown below: Market Rent £1750 pm Less approx. 20% £350 Terms and condition Leaves £1400 Less Scarcity approx. 20% £280 Leaves £1120 pm[7]The Tribunal determines a rent of £1,120 per calendar month Decision[8]The uncapped fair rent initially determined by the Tribunal, for the purposes of section 70, was £1,120 per month. The capped rent for the property according to the provisions of the Rent Acts (Maximum Fair Rent) Order 1999 is calculated at £1,220 per calendar month. The calculation of the capped rent is shown on the decision form. In this case the lower rent of £1,120 per month is to be registered as the fair rent for this property effect from 30 September 2024 being the date the Tribunal made the Decision. Chairman: Duncan Jagger MRICS Date: 30 September 2024 5 November 2024 APPEAL PROVISIONS These summary reasons are provided to give the parties an indication as to how the Tribunal made its decision. If either party wishes to appeal this decision, they should first make a request for full reasons and the details of how to appeal will be set out in the full reasons. Any subsequent application for permission to appeal should be made on Form RP PTA