Tenancy deposits cheaper in resort

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Tenancy deposits in Blackpool over the last year were more than a third cheaper than the average for England and Wales, according to statistics released by The Deposit Protection Service.

By law, landlords must submit deposits from tenants to an authorised tenancy deposit protection scheme.

Those submitted to the DPS for properties with Blackpool postcodes between April 2014 and March this year averaged £506.17, which is £314.55 cheaper than the national average.

Julian Foster, DPS managing director, said: “Tenancy deposits give landlords the security they need while their property is being rented out. Tenants are also provided with peace of mind when the DPS protects the money during their tenancy.”