Mr A Harris LLM FRICS FCIArbDate 20 May 2025Property: 45 Acacia Road, London NW8 6AP
DECISION
[1]The sum of £48,600.00 per year will be registered as the fair rent with effect from 20 May 2025, being the date the Tribunal made the Decision. ____________________________________[3]FIRST - TIER TRIBUNAL PROPERTY CHAMBER (RESIDENTIAL PROPERTY)
REASONS
[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 parties. Evidence[3]The landlord has provided written submissions noting on the reply form that central heating, carpets, curtains and white goods are provided by the tenant.[4]The representations start by comparing the new registration with the previous registration but unfortunately use incorrect figures. The representations include details of 3 comparable lettings in the immediate vicinity. The subject house is described as a house having a floor area of 2250 ft.² 58 a Acacia Road was let on 28 August 2025 at a rent of £169,000 per year. Houses is said to have a floor area of 3253 ft.² and the rent represents £52 per square foot. The terms of the tenancy are not given. 34 Acacia Road was let on 1 September 2023 as a rent of £312,000 per year representing £92.47 per square foot on the floor area of 3374 ft.². Again the terms of the tenancy are not given. 18 Queens Grove was let on 15 January 2023 as a rent of £124,000 per year house is set floor area of 2034 ft.² representing £61.36 per square foot . The terms of the tenancy have not been given.[5]There are no representations from the tenant. Determination and Valuation[6]In the absence of the terms of the tenancies of the rental comparables provided by the landlord, the tribunal is unable to place any weight on that evidence. The tribunal has relied on its own expert, general knowledge of rental values in the area. We consider that the open market rent for the property on a standard assured shorthold tenancy, in the condition and with the amenities the market would expect would be in the region of £135,000 per year. From this level of rent we have made adjustments in relation to: 3a. No carpets curtains or white goodsb. No central heatingc. a full repairing lease The Tribunal has also made an adjustment for scarcity.[7]The full valuation is shown below:[8]The Tribunal determines a s70 rent of £48,600.00 per year. Decision[9]The uncapped fair rent initially determined by the Tribunal, for the purposes of section 70, was £48,600.00 per year. The capped rent for the property according to the provisions of the Rent Acts (Maximum Fair Rent) Order 1999 is calculated at £50016.50 per year. The calculation of the capped rent is shown on the decision form. In this case the lower rent of £48,600.00 per year is to be registered as the fair rent for this property. Chairman: A Harris Date: 20 May 2025 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 Fair rent PCM Market rent 135,000.00 £ FRI no CH 55% 74,250.00 -£ adjusted rent 60,750.00 £ less scarcity off adj rent 20% 12,150.00 -£ Fair rent 48,600.00 £