Many argue that with the rise of Purpose-Built Student Accommodation (PBSA), which now equates to more bed spaces than university managed units, the PBSA sector has displaced Houses in Multiple Occupation (HMOs). While PBSA can help form local policy, there appears to be little evidence to support this. The idea that PBSA supplants HMO is somewhat underpinned by ignorance, mainly due to the fragmented nature of the HMO sector. With around 850,000 student HMO beds in the market and the average property containing approximately four beds, there are more than 200,000 individual properties to track, versus fewer than 1,500 private PBSA residences.