Apige Smart logo
Condominium financing
Finanziamento al condominio
There are over 5,000,000 homes in Italy that need to be made more energy efficient and will no longer have access to the invoice discount.
On 12 March 2024, the European Parliament officially approved the CASA GREEN directive, aimed at reducing COâ‚‚ emissions and energy consumption by 2030, with the goal of achieving climate neutrality by 2050.
From now on, the tax incentive must be offset directly by the beneficiary starting from the year following the investment for the subsequent 10 years. 
Homes will face an inevitable devaluation process if measures to improve energy efficiency and benefit from available tax incentives are not undertaken.
Financing for condominiums designed for:
  • Renovation Projects
  • Building Modernisation
  • Property Expansion
  • A New Approach to Construction:
  • We propose a new approach to construction, through technological and professional services that allow you to focus on the execution of projects while leaving the management of tax credit generation, coordination with designers, technical and fiscal certification, legal aspects of contracts, and insurance brokerage to our ecosystem’s services. This approach handles all the issues that could hinder company growth and project success.

We will present a proposal at the condominium meeting covering three main areas:


  • The option to tailor the renovation project during the condominium meeting to find the best balance between the rate, incentives, and energy savings.
  • The creation of an energy community and the installation of condominium electric vehicle charging stations.
  • The transformation of the building into a Smart Building.


The proposal includes a financial solution for carrying out the work, the selection of the company to perform the work, the design team, technical and fiscal certification, and an inspection company to verify the work accounted for in the progress reports (SAL), ensuring that the work has been completed for the stated amounts.


 HOW DO WE MEASURE THE BUILDING’S IMPROVEMENT?


CONDOMINIO 5 STELLE



SAFE REAL ESTATE VALUE


We believe that the increase in value we aim to measure objectively for properties to be renovated should be based on market prices, not tailored to our convenience, but developed by one of the leading real estate operators in the sector, analysing the value before and after the intervention based on transaction prices.


Thus, the Safe Real Estate Value was born, a calculation shared with our real estate partner that estimates the building’s value based on market prices before and after the intervention, and establishes a rating called "Condominio 5 Stelle" (Five-Star Condo), based on the services made possible by the transformation of the building into a Smart Building.

THE FEATURES OF TAILOR-MADE FINANCING FOR YOUR CONDOMINIUM


  • Financing Capital: 100% of the costs to be incurred (including VAT)
  • Single Disbursement: Minimum amount €25,000 - Maximum amount €1,500,000
  • Disbursement for Work Progress: Minimum amount €100,000 - Maximum amount €1,500,000
  • Duration: Between 24 and 120 months
  • Fixed Interest Rate: 6.50%
  • Application Fee: 1.50% of the financing amount
  • No Payment Collection Fees: For Banca Reale accounts - Repayment through quarterly post-dated payments
  • Payment Collection Fee: 4.50% - Repayment through quarterly post-dated payments
  • Substitute Tax: 0.25% for a fixed rate
  • APR (Annual Percentage Rate): 7.32% for a fixed rate
  • Valuation Fee: The cost of the valuation will be charged only if requested

THE EXCLUSIVE SOLUTION PROPOSED BY APIGESMART

How the financing works

  • Thanks to collaboration with major banks, a new financing product for condominiums has been designed, which reduces the instalment by considering the annual tax incentive in the investment repayment plan.
  • The product is exclusively mediated by the Group’s credit mediation company.
  • The financing is a ten-year, flexible solution aimed at condominiums that wish to carry out energy efficiency upgrades.

Financing features

  • Possibility to finance 100% of the interventions (including technical costs and VAT) for common areas and, simultaneously, personal financing for private areas (with individual financing for each condominium owner).
  • Maximum Duration of 10 Years: Aligned with the tax return period for condominiums (24 - 120 months).
  • 11 Fixed Monthly Instalments or 4 Quarterly Instalments, with one annual “MAXI” instalment in September/October starting from the year following the investment and for each subsequent year, aligned with the tax recovery period stated in each condominium owner’s 730 form, with a fixed interest rate (current) of 6.5% for 10 years.
  • Disbursement based on the work progress report from the site manager or as a single disbursement.
  • Dedicated Condominium Bank Account: Opening of a dedicated condominium account with the bank in question.

The requirements for financing

  • The beneficiaries of the financing contract are properly constituted condominiums.
  • The regulations stipulate that at least 2/3 of the total millesimal shares must be present at the assembly, and the financing resolution must be approved by at least the majority of those present.
  • Irrevocable Mandate for the Administrator
  • Written Confirmation from the Administrator to the Bank, after 30 days, certifying that there are no objections from the condominium owners to the assembly resolution.
  • Requirement for a bank account dedicated solely to the financed intervention.
  • At least 4 condominium owners must agree to the financing. Below this number, the owners may request a personal loan.

How to access the financing

Requests for financing, being granted exclusively, are channelled through the Group’s credit mediation company.


Requests must meet the requirements set by the granting bank, listed in a specific checklist, including:

  • Reliability of the Condominium Administrator
  • Outstanding Payments <20% according to the last 2 budgets (or risk fund), compliance of the interventions, and reliability of the parties involved (contractor, designers, certifiers).
  • Credit Reliability through mandatory, video-recorded site inspections.
  • Collection of all documentation required by the bank to register the condominium, the administrator, and any other necessary declarations/documentation managed by the Group’s credit mediation company agents and their back office

The advantages of the financing

Guaranteed Energy Savings through a dedicated insurance policy.


Technological and Energy Management is handled by the Group’s engineering company, Italy’s leading engineering firm in building renovation, with over 12,000 technical certifications completed.


Certified Energy Management Experts will provide the energy audits necessary to guarantee energy savings with an energy policy.


The monthly instalment for the 100% classic financing is practically DOUBLE compared to our EXCLUSIVE financing!

DOCUMENTS REQUIRED FROM THE ADMINISTRATOR FOR THE PRE-APPROVAL PHASE

  • Tax code of the condominium
  • Administrator’s identity document and health insurance card
  • Administrator’s report on the composition of the condominium
  • Minutes of the administrator’s appointment or confirmation, signed
  • List of condominium owners with millesimal shares, signed by the administrator
  • Signed condominium regulation
  • Copy of the assembly resolution approving the last expenditure statement (final account) with the subsequent cost estimate, signed by the administrator and the chair of the assembly
  • Latest expenditure statement (final account) and detailed cost estimate per condominium owner, approved and signed by the administrator
  • Administrator’s declaration that there are no delays exceeding 20% on the latest final account and that no condominium owner has more than 4 unpaid instalments, signed by the administrator
  • Update of condominium payment instalments, signed by the administrator
  • Copy of the assembly resolution authorising extraordinary expenses, signed by the administrator and the chair of the assembly
  • Copy of the negotiated agreement (if there is a different allocation of expenses among condominium owners than legally required), signed
  • Detailed breakdown of extraordinary expenses for each condominium owner, signed
  • Copy of the assembly resolution authorising the financing request, signed by the administrator and the chair of the assembly
  • List of condominium owners participating in the financing, with detailed amounts per condominium, signed by the administrator
  • Condominium owners with share >= €20k: valid identity document
  • Valid identity document and tax code of the chair of the assembly
  • Written confirmation from the administrator certifying no objections 30 days after the resolution for the work and financing, signed
  • Cost estimate/metric computation/work schedule/contract for the job, signed and stamped by the company and the administrator
  • Any authorisation titles (e.g. CILAS) if required by the expert or in the case of credit assignment (invoice discount)
  • In the case of credit assignment (or invoice discount): deed of public notary signed by each condominium owner + identity document
  • Completed and signed financing request form by the administrator
  • Signature verification form (if administrator not identified at the branch), signed by the person who identified the administrator
  • Privacy policy and access to condominium information systems forms, completed and signed by the administrator
  • Administrator’s privacy policy, completed and signed
  • For condominium owners participating with share >= €20k: completed and signed privacy policy
  • Privacy policy with authorisation for data processing for commercial purposes of the chair (the chair should not be registered in Brio), completed and signed by the chair
  • For requests exceeding €150,000, a technical report is required to assess the cost/intervention appropriateness
Share by: