Flat 1, 11 Francis Terrace, London N19 5PY LON/00AP/F77/2024/0112

FIRST-TIER TRIBUNAL
PROPERTY CHAMBER (RESIDENTIAL PROPERTY)
Case No LON/00AP/F77/2024/0112
Between
Mr Phillip RichardsApplicantLoromah Estates LtdRespondentMr Phillip RichardsTenantLoromah Estates LtdLandlord
Before
Mr D Jagger MRICSDate 17 June 2024Property: Flat 1, 11 Francis Terrace, London, N19, 5PY

DECISION

The sum of £1,188 per calendar month will be registered as the fair rent with effect from 14 May 2024, being the date, the Tribunal made the Decision. ____________________________________ © CROWN COPYRIGHT 2023 SUMMARY REASONS FIRST - TIER TRIBUNAL PROPERTY CHAMBER (RESIDENTIAL PROPERTY) Background[1]Following an objection from the Landlord 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 relied on the information provided by the Rent Officer together with Google Street Maps and its expert knowledge. Evidence 3.. The Tribunal had copies of the Valuation Office Agency correspondence including the rent registers effective 17th January 2022 and 17th January 2024 together with the calculations for the most recent registration. The parties provided information in connection with the property and the Tenant completed the Reply Form. The Landlord provided comparable evidence of rental values for four flats achieved in the same building. Determination and Valuation[4]Having consideration of our own expert, general knowledge of rental values in the Tooting area, we consider that the open market rent for the property in its current condition would be in the region of £1,650 per month. From this level of rent we have made adjustments in relation to the terms of the tenancy. which equates to approximately 10%[5]The Tribunal has also made an adjustment for scarcity at 20%[6]The full valuation is shown below: Market Rent £1,650 pm Less (as above) approx. 10% £165 Leaves: £1,485.00 Less Scarcity approx. 20% £297 Leaves: £1,188 pm[7]The Tribunal determines a rent of £1,118 per calendar month Decision[8]The uncapped fair rent initially determined by the Tribunal, for the purposes of section 70, was £1,188 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 £1,382per calendar month. The calculation of the capped rent is shown on the decision form. In this case the lower rent of £1,188 per calendar month is to be registered as the fair rent for this property. Chairman: Duncan Jagger MRICS Date: 17th June 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