47 Brand Street, Greenwich, London SE10 8SP LON/00AL/F77/2023/0260

FIRST-TIER TRIBUNAL
PROPERTY CHAMBER (RESIDENTIAL PROPERTY)
Case No LON/00AL/F77/2023/0260
Between
Miss M WarkeApplicantRegis PLCRespondentMiss M WarkeTenantRegis PLCLandlord
Before
Mr D Jagger MRICSMr C Piarroux JPDate 9 February 2024Property: 47 Brand Street, Greenwich, London, 8SP

DECISION

The sum of £680 per calendar month will be registered as the fair rent with effect from 9th February 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 and Hearing[2]A hearing was due to take place at 10am on the 9th February 2024. The landlord or the tenant did not attend. Following a telephone conversation with the tenant she explained she completely forgot about this. The Tribunal inspected the property at around 12 noon in the presence of the tenant. The Tribunal explained the formula for the calculation of the maximum fair rent. The reason for the increase is that the formula is based upon the Retail Price Index (RPI) which has seen significant growth in the past 18 during due to rampant inflation. Evidence[3]The Tribunal has consideration of the written submissions from both parties, the evidence provided at the hearing from the Tenant and the inspection of the property. Determination and Valuation[4]Having consideration of our own expert, general knowledge of rental values in the Greenwich area together with the Landlords comparable evidence, we consider that the open market rent for the property in its current condition would be in the region of £2,000 per calendar month. From this level of rent we have made adjustments in relation to: Terms of tenancy, no white goods, no carpets or curtains, dated kitchen and bathroom fittings, original central heating installed by tenant and structural movement and damp, which equates to approximately 50%[5]The Tribunal has also made an adjustment for scarcity at 20%[6]The full valuation is shown below: Market Rent £1,700 pm Less approx. 50% £850 Terms and condition Leaves £850 Less Scarcity approx. 20% £170 Leaves £680 pm[7]The Tribunal determines a rent of £680 per calendar month Decision[8]The uncapped fair rent initially determined by the Tribunal, for the purposes of section 70, was £680 per calendar month. The capped rent for the property according to the provisions of the Rent Acts (Maximum Fair Rent) Order 1999 is calculated at £749.50 per calendar month. The calculation of the capped rent is shown on the decision form. In this case the lower rent of £680 per calendar month is to be registered as the fair rent for this property effect from 9th February 2024 being the date the Tribunal made the Decision. Chairman: Duncan Jagger MRICS Date: 9th February 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