Monaco-based billionaire John Christodoulou has been ordered to repay over £260,000 in rent to tenants of two east London buildings—Olympic House and Simpson House—for operating unlicensed HMOs.
A tribunal ruled in favour of 46 current and former residents, awarding a total of £263,555.68. The ruling follows a five-year legal battle and is believed to be the largest rent repayment order (RRO) ever issued.
The London Renters Union said the lack of licences left tenants exposed to dangerous conditions, such as fire risks. Judge Robert Latham described Christodoulou as a “rogue landlord.”
Despite the ruling, the LRU warns Christodoulou may avoid payment by liquidating the ownership companies—raising concerns about enforcement.
Christodoulou is reportedly worth £2.5 billion, according to the Sunday Times Rich List.
Whilst I have little sympathy with billionaires, I do think that RRO’s for administrative failures with no proof that the tenants were thus endangered is setting a dangerous precedent.