A Monaco-based billionaire described by a judge as a “rogue landlord” has been ordered repay tenants living in two buildings that he owns in east London more than £260,000 in rent repayments by a tribunal.
John Christodoulou was penalised after a group of current and former residents of Olympic House and Simpson House in Hackney took companies that he owned o tribunal for operating unlicensed houses in multiple occupation (HMOs).
The London Renters Union, which represents the tenants’ group that brought the claim, said the lack of licensing left residents vulnerable to hazardous conditions, including fire risks due to inadequate safety measures.
Christodoulou, 59, has an estimated wealth of £2.5bn, according to last year’s’ Sunday Times rich list.
Jordan Osserman, a spokesperson for the campaign, said: “This case shows how the law is rigged against renters. Christodoulou makes millions off our rent while flouting the law and cutting corners on safety.”
During the hearing earlier in March, the judge in the first-tier tribunal (property chamber), Robert Latham, said: “The respondent can only be characterised as a rogue landlord.”
Following a lengthy legal battle that started five year ago, 46 residents from 15 different flats across Olympic House and Simpson House have been awarded a combined total of £263,555.68.
The ruling forms part of a rent repayment order (RRO) believed to be the largest ever issued.
The LRU warns that Christodoulou may not pay up, despite the order, after tenants claimed that the landlord was attempting to liquidate the companies that own Olympic House and Simpson House.
