The following is a guide only. Every co-living project will combine a varying mix of residential with managed spaces, and assessors must in all cases review the suitability of the criteria to determine the most appropriate asset classification.
Co-living features
Co-living developments generally combine:
- Self-contained residential apartments with private kitchens and bathrooms.
- Apartments are typically rented for long-term stay (i.e. for periods of more than one month).
- Managed communal facilities such as spaces for leisure, co-working spaces and common grounds.
Classification
- For NC or RFO, generally the most appropriate asset classification is ‘Residential institutions – long term stay.’
- For BIU, it is generally Residential.
Using building regulation classifications as a guide
As a guide, assessors can also consider how their asset is classified according to local regulations.
For UK NC assets, KBCN1225 provides additional clarification:
- Projects classified under UK building regulations as Part L Volume 1: Dwellings (Previously Part L1) is considered residential and covered under HQM.
- Projects classified as Part L Volume 2: Buildings other than dwellings (Previously Part L2) is considered a residential institution.
