This guidance is intended as a general reference only. Each co-living development will include a different combination of residential accommodation and managed communal spaces. Assessors must apply professional judgement to determine the most appropriate asset classification.
Typical characteristics of co-living developments
Developments within these sectors typically include the following characteristics:
- Institutional ownership and professional management
Purpose built for rental as the primary function, rather than individual sale, and owned by a single entity with professional property management in place. - Self-contained, functional units
Residential apartments with private kitchens and bathrooms. - Managed communal facilities
Extensive shared amenities, such as fitness suites, co-working areas, communal terraces, and secure bicycle storage. - Flexible, long-term tenancy
Tenancy agreements are generally designed for longer term occupation, typically six to twelve months.
Classification guidance
The following classifications are recommended:
| Assessment Type | Recommended Classification |
| International New Construction, International Refurbishment and Fit-Out and Refurbishment and Fit Out Commercial V7 | Residential institutions- long term Stay* |
| BREEAM USA In Use (BIU) | Residential |
*Assessors should also consider how the asset is classified under relevant local building regulations to support the interpretation of Residential Institution.
16 July 2026 - Applicability clarified and wording updated 17-June-2026 - Guidance revised and updated for clarity
