Frequently Asked Questions

Pricing and Plans

What is the difference between the three plans?

Our basic and premium plans are best for communities that may require less than complete management. Our third plan is a full-service model where you may schedule a call with us for an evaluation.  You can find more info about the difference between each plan, including the cost difference here

Will it cost extra for consults with TheSavvyHOA?

Any regular maintenance or questions that may arise may be directed through your online portal. If any specific questions may be more of a professional consultation nature. 

Are there any add-on features?

Features that may be added to your plan include:

  • Resale documents through CondoCerts
  • Remote Property Inspections
  • Chat functionality with AI
  • Investment Management and Monitoring
Do plans include access to residents?

Each plan includes access to residents for quick access to payments, documents and to ask the board questions. 

Bookkeeping and Accounting

Does The Savvy HOA sync with QuickBooks and other accounting software?

The Savvy HOA works with eUnify to bring all the reporting, payment, and functionalities to your community. Part of our solution includes integrations with third-party software for end-of-year taxes and can consist of integrations with Quickbooks.

How does The Savvy HOA receive my documents?

Part of our onboarding process will include importing your resident roster and all appropriate documents like articles of incorporation, by-laws, and disclosures.

What does my bookkeeper do?

At the Savvy HOA, our community specialists will confirm that all transactions are correctly recorded and that all reporting is up-to-date. Investment management is an add-on that can also be opted-in to provide a full suite of solutions. 

What are my specialist's qualifications?

Each specialist at The Savvy HOA is trained as a CMCA, as well as bookkeeping and compliance within the industry. 

How do my association invoices get paid?

The Savvy HOA uses an online system to track, monitor, and approve association invoices. You will be able to access this via the Board Member Dashboard. Insurance and utilities are automatically paid, but all other invoices require Board approval. 

How are Financial Statement Provided?

We publish financial statements to the association via the online activity reporting system (dashboard) as available throughout the month.

How can owners make an assessment payment?

Via the online system, owners can log in to their accounts and set up payments via the bank. Owners can set up a one-time fee or recurring payments. Owners may also mail a check to the lockbox or have their bank send a payment. 

How can I order a resale package?

Resale packages may be ordered by contacting us. All resale packages are delivered through our partner CondoCerts. 

 

Tax

What tax considerations for HOAs will be included in reporting?

HOAs can file two tax forms: (1) Form 1120 or (2) Form 1120-H. The Savvy HOA will manage all categorizing of transactions, prepare reports, and make filing easy so all reporting is always on time.  

Does My HOA Need to File Form 1120-H Every Year?

An HOA must qualify each year by filing an 1120-H before the 15th day of the 3rd month after the end of the HOA’s tax year. Qualification is not permanent. As such, if you fail to file Form 1120-H before the due date, you can no longer qualify for the form for that year.

When Should My HOA File Taxes?

A homeowners association is considered a nonprofit organization. Therefore, you must look to your fiscal year to determine the deadline for filing HOA taxes. For instance, if your fiscal end date is December 31, you must complete your tax returns before March 15. So, make sure to have your homeowner’s association tax filing requirements settled before then.

What If My HOA Failed to File Tax Returns?

If it has been several years since your HOA has filed the appropriate tax returns, there are several steps that you should immediately take. First, find the most recent tax return to determine how long it has been since your HOA filed. Second, fill out the most recent HOA tax return promptly. Third, contact the IRS to determine whether filing a Form 1120-H for the missed years is possible. Fourth, file all the tax returns that may have been missed in previous years.

What about state returns?

Each state is unique and may have different filing requirements. While some states don’t require a tax return, others do—and form requirements in one state may be more complex than those in a neighboring state. Depending on your state, the Savvy HOA will help with reporting and filing. 

Integrations and Add-ons

What Systems Does The Savvy HOA Integrate With?

We can integrate with eUnify, Quickbooks, and property management integrations such as Compliance View 360 and CondoCerts.

Are there any add-on features?

Features that may be added to your plan include:

  • Resale documents through CondoCerts
  • Remote Property Inspections
  • Chat functionality with AI
  • Investment Management and Monitoring
Does The Savvy HOA sync with QuickBooks and other accounting software?

The Savvy HOA works with eUnify to bring all the reporting, payment, and functionalities to your community. Part of our solution includes integrations with third-party software for end-of-year taxes and can consist of integrations with Quickbooks.

How do you handle integrations? Do we need separate accounts for the third-party solutions you integrate with?

We will handle the setup and connections when signing up with our partner solutions. Your online portal will have access to each solution you opt in to. Please contact support if you have a specific question about using a third-party solution.

Software

How easy it the onboarding process?

Very easy! We have a robust, easy-to-use tool to assist with onboarding the community. The system will request specific information for you to upload. Once you finish uploading the files, you can watch videos and learn more about the board dashboard and portal. 

What are some of the features of the software?

Some features of the Savvy HOA include a comprehensive dashboard, centralized document repository, financial oversight, reporting, communication tool, and payments for dues and vendors. 

How do you handle property inspections?

We contract with Compliance View 360, who would handle all property inspections; inspections can be scheduled monthly, quarterly, or yearly. To learn more about Compliance View 360, click here. 

Do you have any customer service functionality?

All plans for The Savvy HOA include customer service via our online portal. If you would like to opt-in for an AI chatbot that can help book amenities and answer questions on dues or inspections, we partner with STAN, which can help facilitate an AI chatbot for your community. To learn more about STAN, click here. 

About The Savvy HOA

Do you provide collection services?

We can assist with the collection, although the board of directions will remain the main point of contact with their chosen attorney. The board will have access to account ledgers and can provide those to the attorney anytime. 

Do you handle homeowner calls?

We encourage all owners to utilize the online portal to obtain community information. The board will remain the primary contact for owners. 

What is the difference between the two plans?

Our basic and premium plans are best for communities that may require less than complete management. Here, you can find more info about the difference between each plan, including the cost difference. 

Do you offer consulting services?

Yes! We have several resources to assist the board with matters outside the agreement. Once you complete the onboarding process, you can review additional services and rates. 

Will you provide inspections of the community?

We have partnered with Compliance View 360, which can provide community compliance inspections at a very affordable rate.  Once you complete the onboarding process, you can review additional services and rates.

Ready to be "savvy" with The Savvy HOA?

At The Savvy HOA, we understand the challenges faced by board members. Our user-friendly dashboard offers solutions to ease your workload. Start taking back your time, sign-up today.

Overwhelmed managing your HOA? Start taking back your time; sign-up today. 

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