13 Exeter Mansions, Exeter Road, London NW2 3UG LON/00AE/F77/2024/0248

FIRST-TIER TRIBUNAL
PROPERTY CHAMBER (RESIDENTIAL PROPERTY)
Case No LON/00AE/F77/2024/0248
Between
Mr G YeoApplicantThe Aldridge Estates Investments Co LtdRespondentMr G YeoTenantThe Aldridge Estates Investments Co LtdLandlord
Before
Mrs S Phillips MRICSDate 15 October 2024Property: 13 Exeter Mansions, Exeter Road, London, NW2 3UG

DECISION

The sum of £25,750 per annum will be registered as the fair rent with effect from 15 October 2024, being the date the Tribunal made the Decision. ____________________________________ © CROWN COPYRIGHT 2023 FIRST - TIER TRIBUNAL PROPERTY CHAMBER (RESIDENTIAL PROPERTY) 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 provisions of the Rent Act 1977. Inspection[2]The Tribunal did not inspect the property and based on the submissions by the parties did not think one was required. Neither party requested an inspection of the property and the Tribunal considered this case on the basis of the papers provided by the parties. Evidence[3]The Tribunal has consideration of the written submissions provided by the Tenant and the Landlord. Determination and Valuation[4]Having consideration of the comparable evidence provided by the parties and our own expert, general knowledge of rental values in the area, we consider that the open market rent for the property in good tenantable condition would be in the region of £3,200 per calendar month equating to annual rent of £38,400. From this level of rent we have made adjustments in relation to: The Tenant’s repair liability No white goods being provided as part of the tenancy No floor coverings or curtains being provided as part of the tenancy The unmodernised condition of the property[5]The Tribunal has also made an adjustment for scarcity.[6]The full valuation is shown below: per calendar month Market Rent £3,200 Less Tenant’s repair liability ) 5% No white goods ) 5% No floor coverings / curtains ) 5% Unmodernised condition ) 5% 20% £640 £2,560 Less Scarcity approx. 20% £512 £2,048[7]The Tribunal determines a rent of £2,048 per calendar month and this equates to £24,576 per annum. Decision[8]The uncapped fair rent initially determined by the Tribunal, for the purposes of section 70, was £24,576 per annum. The capped rent for the property according to the provisions of the Rent Acts (Maximum Fair Rent) Order 1999 is calculated at £25,750 per annum. The calculation of the capped rent is shown on the decision form. In this case the lower rent of £24,576 per annum is to be registered as the fair rent or this property. Chairman: Mrs S Phillips MRICS Date: 15 October 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 request for full reasons should be made within a month. Any subsequent application for permission to appeal should be made on Form RP PTA