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Student Housing
#1 Student Lettings Agency
If you’re a student HMO landlord in Lincoln, you’re probably wondering why your rooms aren’t filling as fast as they used to. After all, pre-COVID, many landlords had their properties snapped up by Christmas! But don’t panic — let’s unpack what’s changed over the last five years, and why there’s still room for optimism.
Pre-COVID (2019/20)
👉 Historically, Lincoln’s student lettings cycle was predictable. Most second- and third-year students secured houses by January, with most groups signing up before Christmas. Demand was high, and landlords enjoyed early commitments and fewer worries about void periods.
During COVID (2020–2021)
👉 The pandemic turned everything upside down. With campus closures and remote learning, many students stayed at home or delayed decisions. HMOs that once let quickly sometimes stayed empty well into the academic year.
Post-COVID Rebound (2022–2023)
👉 As universities reopened, demand surged. Some landlords saw a frenzy of early bookings as students rushed to secure homes. By March 2023, around 68.5% of student beds were booked nationally — above the average of recent years.
Recent Cycles (2024–2026)
👉 We've seen a noticeable change: by March 2025, only 36% of beds were booked nationwide — down from 46.3% in 2024 and 68.5% in 2023. Lincoln mirrors this trend, with many students holding off until summer before making final decisions. That’s why your rooms might still be available — not because they’re undesirable, but because students are simply booking later.
The University of Lincoln has kept student numbers steady over recent years. While that’s great for stability, it also means there’s no sudden wave of new demand to soak up extra rooms. Unlike other cities with rapid growth, Lincoln’s market is steady — but not currently booming.
Since 2020, Lincoln has seen a significant rise in purpose-built student accommodation (PBSA). These modern blocks often come with all-inclusive rents and en-suites — a big draw for first-year and international students. While PBSA is usually more expensive than HMOs, it’s added more competition and choice to the market, giving students more options and time to decide.
Nationally, students are feeling the squeeze. Maintenance loans haven’t kept pace with rising rents and living costs, meaning many students are price-sensitive and careful about committing too early. Some students are choosing to live at home or delaying booking to hunt for the best deals — a factor that’s hitting HMO landlords particularly hard.
In the East Midlands, the share of second-year and later students in private rentals (HMOs) has dropped from 53.5% in 2014/15 to 46.5% in 2023/24. This shift highlights the impact of PBSA growth and changing student lifestyles.
Nationally, the UK’s student population remains strong — with 2.3 million full-time students enrolled in 2023/24, up 16% from pre-pandemic levels. However, that growth has levelled off, meaning less “bulge” demand to fill extra housing.
With the introduction of article 4, the HMO market share declines each year, giving HMO less competion within its own market, but no longer the "status quo".
✅ Demand Is Still There
Most students will need a place to live by September. PBSA might attract some students, but many still prefer the value and community of HMOs.
✅ Timing Has Shifted
The days of full houses by Christmas are gone — but that doesn’t mean your rooms won’t let. It just means students are booking later. Expect a busy summer push, with many deals happening in July and August.
✅ HMOs Remain Competitive
HMOs typically offer lower rents than PBSA and are popular with second- and third-year students who want to live with friends. That value proposition still resonates — especially with students feeling the pinch from rising costs.
🔹 Market Proactively: Update your listings, use high-quality photos, and highlight bills-included deals to appeal to price-sensitive students.
🔹 Be Flexible: Consider incentives like lower deposits or flexible tenancy terms to stand out, allow tenants to bring pets, or offer discounts and perks to get students moving.
🔹 Don’t Panic: Remember, the bookings are slower, but they’re still coming. Staying competitive and engaged will help you fill those rooms.
Lincoln’s HMO market isn’t collapsing — it’s just adapting to a new booking rhythm. By understanding these trends and adjusting your strategy, you’ll be well-positioned to fill your rooms and keep your business strong in 2025 and beyond.
If you’d like tailored advice on marketing, pricing, or strategy, let’s connect. We’re here to help you navigate this market confidently.
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#1 Student Lettings Agency
Student Housing is a top-rated student lettings agency offering fully furnished, bills-included accommodation across Lincoln, Nottingham, and Hull. Run by former students, we provide hassle-free, transparent housing tailored for university life.
