The following is a guide only. Every project is unique, and assessors must in all cases review the suitability of the criteria to determine the most appropriate asset classification.
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 areas for work and leisure.
- Managed common facilities.
- Managed landscaping and external areas.
- For NC or RFO, generally the most appropriate asset classification is ‘Residential institutions – long term stay.’
- For BIU, it is Residential.
As a guide, assessors can also consider how their asset is classified according to local regulations.