A property tribunal assessed Nicholas Payne's flat and concluded it should be valued at 1,183 per month due to its significant disrepair, despite a proposed rent increase to 1,250. The condition of the interior was notably poor, requiring extensive renovations including updates to the kitchen, bathroom, electrical systems, and heating. Although the external parts of the building showed improvement, the flat's dated features from 1968 severely influenced its valuation, which was ultimately determined to be 217 below the market rate of 1,400.
"Internally, the flat was found to be in very poor condition. It requires extensive redecoration throughout, modernisation of kitchen and bathroom areas."
"The tribunal concluded that the flat's actual value is 1,183 per month, 217 less than the market value of 1,400, due to its disrepair."
Collection
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