62 Portland Road, London, N15 4SX LON/00AP/MNR/2024/0225
DECISION
The Tribunal determines a rent of £352.75 per week with effect from 1 April 2024. ____________________________________ © CROWN COPYRIGHT 2024 FIRST - TIER TRIBUNAL PROPERTY CHAMBER (RESIDENTIAL PROPERTY) 2 SUMMARY REASONS Background[1]On 29 January 2024 the Landlord served a notice under Section 13(2) of the Housing Act 1988 which proposed a new rent of £154.75 per week (including £3.96 per week for fixed service charges) in place of the existing rent of £143.46 per week (including £3.45 per week for fixed service charges) to take effect from 1 April 2024.[2]On 27 March 2024 under Section 13(4)(a) of the Housing Act 1988, the Tenant referred the Landlord’s notice proposing a new rent to the Tribunal for determination of a market rent. The Tenant’s referral was received by the Tribunal on 28 March 2024. Inspection[3]The Tribunal did not inspect the property but considered this case on the basis of the papers provided by the parties. Evidence[4]The Tribunal has consideration of the written submissions provided by the Tenant and the Landlord. Determination and Valuation[5]Having consideration of the comparable evidence proved by the parties and of 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 £415 per calendar week. From this level of rent we have made an adjustment of 15% in relation to the double glazing and some of the doors at the property being in need of replacement.[6]The valuation is shown below: Hypothetical Market Rent Per Week £415 LESS 15% Double glazing and some doors in need of replacement £62.25 Market Rent Per Week £352.75[7]This rent includes £3.96 per week in fixed service charges, which is included and separately identified.[8]The Tribunal determines a rent of £352.75 per week and this equates to approximately £1,528.58 per calendar month. 3 Decision[9]The Tribunal therefore determined that the rent at which the subject property might reasonably be expected to be let in the open market by a willing Landlord under an assured tenancy was £352.75 per week, including £3.96 per week in fixed service charges.[10]The Tribunal directs the new rent of £352.75 per week to take effect on 1 April 2024, this being the date as set out in the Landlord’s Notice of Increase.[11]The rent the Tribunal has determined is the maximum rent that may be charged at the property, but the Landlord may charge a lower amount should they wish. Chairman: Mr O Dowty MRICS Date: 30 September 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.