10 Oakley Gardens London SW3 5QG LON/00AW/F77/2024/0194

FIRST-TIER TRIBUNAL
PROPERTY CHAMBER (RESIDENTIAL PROPERTY)
Case No LON/00AW/F77/2024/0194
Between
Mrs A J WrightApplicantCadogan Estates LtdRespondentMrs A J WrightTenantCadogan Estates LtdLandlord
Before
J.Pittaway LL.BDate 31 July 2024Property: 10 Oakley Gardens, London, SW3 5QG

DECISION

The sum of £8,877.50 will be registered as the fair rent with effect from 31 July 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 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 but considered this case on the basis of the papers provided by the Landlord and the Tenant. Evidence[3]The Tribunal has considered the written submissions provided by the the Landlord, in particular the Report prepared by Cluttons, the Landlord’s representative. It has also considered the information provided by the tenant. Determination and Valuation[4]Having considered the comparable evidence proved by the Landlord, in particular the comparables offered of 57 Oakley Gardens (let in March 2024 at £96,200 p.a.) and 47 Oakley Gardens (let in November 2023 at £137,800 p.a.) 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 £111,800 p.a. From this level of rent we have made adjustments in relation to the extent to which the lease terms differ from those of an assured shorthold tenancy (as to repair and insurance in particular) and the condition in which the property was let (without white goods, floor coverings or curtains) and the tenant’s provision of central heating.[5]The Tribunal has also made an adjustment for scarcity.[6]The full valuation is shown below: Per quarter Market Rent £27,950 Less Lease terms ) Letting condition ) ) approx. 60% ) £16,770 £11,180 Less Scarcity approx. 20% £2,236 £8,944[7]The Tribunal determines a fair rent of £8,944 per quarter Decision[8]The uncapped fair rent initially determined by the Tribunal, for the purposes of section 70, was £8,944. The capped rent for the property according to the provisions of the Rent Acts (Maximum Fair Rent) Order 1999 is calculated at £8,877.50. The calculation of the capped rent is shown on the decision form. In this case the Maximum Fair Rent of £8,877.50 is to be registered as the fair rent for this property. Chairman: J.Pittaway Date: 31 July 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