£1,320.34 deposit to rent in Dacorum

When tenants move home they usually pay their landlords a deposit to insure against damage or other costs, and by law landlords must protect this money with an authorised tenancy deposit protection scheme. But those renting a home with a HP postcode paid 36 per cent above the national average between April and June.

Julian Foster, managing director at The Deposit Protection Service, said: “Tenancy deposits give landlords peace of mind when they rent out property, but they are usually large sums and are often the most financially demanding aspect of moving house.

“Nevertheless, when landlords protect the money with The DPS, renters can also be assured that their money is safe throughout their tenancy, and that they’ll have recourse to free, impartial adjudication if there is a dispute when they move out.

“Both landlords and tenants need a deposit protection service that is fast, efficient, clear and communicative, and The DPS has been entrusted with over 3.2 million deposits since we launched in 2007.”