Bankinter and IESA launch "tucomunidad nextgen", a platform to manage European funds for homeowners' associations

The initiative will boost works carried out on residential buildings to make them more energy-efficient, with flexible management of grants and financing avoiding the negative effects of undertaking the works through communal charges.

It involves a turnkey solution, integrated into the software used by most Property Managers, to optimise the use of Next Generation funds in energy-efficiency works carried out by Homeowners' Associations.

Bankinter and IESA, a leading company in technological applications and solutions for property managers, are launching a new initiative to promote the application of and access to European Next Generation funds by Homeowners' Associations, aimed at financing works aimed at making residential buildings more energy-efficient.

Through this initiative, IESA integrates a turnkey solution into the software used by property managers so they can manage the whole process of processing and obtaining European funds to arrange works to make buildings in the neighbourhood communities they manage more energy-efficient. This process includes asking for quotes from companies that perform energy-efficiency works, managing grants and securing the corresponding financing until the grant arrives or as a way to cover the total amount budgeted.

In this regard, Bankinter has set up 100% digital finance, which covers the entire budget for energy-efficiency works and avoids the negative effects of undertaking the works through communal charges. This is a loan with a maximum term of 12 years, with a grace period of up to two years, and with a fast, simple and transparent processing and approval process, which only requires the signature of the representative of the homeowners' association, and where it is not necessary to open a Bankinter account or maintain any relationship with the bank, and without the need to go to a notary's office for transactions of up to €300,000.

Thanks to this solution, the homeowners' association will not have to wait for the European funds to arrive or raise part or all of the budgeted amount to carry out the works, since Bankinter advances and makes up the grant by financing 100% of the project. In addition, this solution introduces the idea of financing as a way of approaching investments in homeowners' associations, rather than covering the costs with communal charges.

It should be noted that IESA has a market share of 80% in technological services for property managers, with 400,000 communities of owners managed with this software, which just shows how influential this initiative could be among property managers, who were the main targets in mind when this project was thought up.

This initiative, open to other companies and suppliers, also includes a specific portal with content and resources related to the application of NextGen funds to homeowners' associations, whose objective is to inform property managers and owners about how they can benefit from these funds to carry out comprehensive works in buildings to make them more sustainable, more efficient and, at the same time, improve the quality of life of all residents. This is the only open portal specific to Next Gen funds with all the content to make the most of these grants for both homeowners' associations and companies performing energy-efficiency works.

The “tucomunidad next gen” solution was presented today during an event in Madrid, which was attended by Augusto Carmona, CEO of IESA; Ana Garrido, director of consumption and payment methods at Bankinter; and by the General Director of Housing and Land of the Ministry of Transport, Mobility and Urban Agenda, Mr Francisco Javier Martín Ramiro.

A total of €6,800 million in grants for Energy-Efficiency Improvement .

The second component of the Recovery, Transformation and Resilience Plan (Next Gen Eu Funds) includes grants worth €6,800 million over the next three years for the Residential Energy-Efficiency Improvement Works.

This amount is divided into €3,800 million for grants for residential buildings and the rest is for public sector buildings. The plan also includes €450 million of tax assistance for owners.

Grants will range from 40% to 80% of the project, depending on energy savings, and will be managed by the Autonomous Communities, with expressions of interest by the City Councils for works at the neighbourhood level. In addition, companies performing energy-efficiency works are considered “pivotal” for the works. Bankinter has signed agreements with the main companies performing energy-efficiency works.

The scope of energy-efficiency improvement works and accessibility covered by the Plan with the support of Next Gen EU funds includes: Works on frontages and building envelopes; Improvements to building heating systems; replacement of lights with LED systems; Installation of photovoltaic panels; Installation and replacement of lifts; Installations of charging points for electric cars; Installation of accessibility systems (ramps, lifts or similar); Installation of IoT (Internet of Things) systems, among others.