Flat 4, 4 Sanctuary Street, Borough, London, SE1 1EA LON/00BE/MNR/2024/0057
DECISION
The Tribunal determines a rent of £1900 per calendar month with effect from 14 January 2024. ____________________________________ © CROWN COPYRIGHT 2023 FIRST - TIER TRIBUNAL PROPERTY CHAMBER (RESIDENTIAL PROPERTY) 2 SUMMARY REASONS Background[1]On 12 December 2023 the Landlord served a notice under Section 13(2) of the Housing Act 1988 which proposed a new rent of £2,250 in place of the existing rent of £1,733.33 per month to take effect from 14 January 2024.[2]On 12 January 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. Inspection[3]The Tribunal did not inspect the property but considered this case based on the papers provided by the parties. Evidence[4]There were no written submissions from the parties. 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 its current condition would be in the region of £2,000 per calendar month. From this level of rent we have made adjustments to reflect tenant improvements, tenant furniture and floor coverings, dilapidation and obsolescence at the property.[6]The full valuation is shown below: Decision[8]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 £1,900 per calendar month. 3[9]The Tribunal directed the new rent of £1,900 to take effect on 14 January 2024. This being the date as set out in the Landlord’s Notice of Increase. Chairman: Ian B Holdsworth Date: 22 May 2024 APPEAL PROVISIONS You can only appeal if the First-tier Tribunal decision was wrong on one or more points of law and you must say why the First-tier Tribunal was wrong in law. 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.