With the Deposit Protection Service (DPS) now protecting over 1.2 million tenancy deposits across England and Wales, totalling just over £1 billion, their figures show that overseas landlords (ex-pats with properties in the UK) using the DPS are mainly based in Europe, with France hosting more than one in ten (13.31%).
The DPS offer a choice of a custodial (free of charge) or an insurance-based protection scheme.
The service is for use by landlords, letting agents or other organisations to protect UK tenant’s deposits during the course of their tenancy.
Europe dominates the listings, with Spain (6.69%), Ireland (6.43%), Germany (4.72%) and Switzerland (4.30%) vying with France in the list of top ten countries using the UK government-authorised scheme.
In addition, a big proportion of ex-pat UK landlords are living around the world in English-speaking nations, with more than four in ten being based in Australia (11.99%), the USA (9.21%), Ireland (6.37%) or New Zealand (3.81%).
Kevin Firth, Director of The DPS, says:
“These figures provide a fascinating picture of the truly global diversity of landlords using the Deposit Protection Service.
“Whether you live here or overseas, if you’re renting a property out in England and Wales, you need to protect the deposit – and The DPS has attracted large numbers of users in well-known countries like France and the USA as well as nations as diverse as Aruba and Vanuatu.
“It’s in every landlord and tenant’s interests for deposits to be protected, and The DPS continues to provide the security, ease, speed and range of choices that property owners from across the UK and abroad require.”
The DPS has used the figures to produce an interactive ‘heat map’ on their website which illustrates the number of landlords based in each country and the number of properties they own.
The DPS figures also reveal that:
– All together, the Arabic-speaking world represents 4.43% of UK landlords based aboard, within which the United Arab Emirates (which includes Dubai and Abu Dhabi) dominates with 121 of 166 landlords from the region.
– More than four out of five international landlords (83.88%) have registered just one property with DPS.
— LandlordZONE (@LandlordZONE) March 4, 2015