Associa CEO John Carona recently appeared on the Building Texas Show to discuss the evolution of community association management, the role of technology, and the company's expansion into Europe. The episode, recorded at Associa's Richardson headquarters, offers a deep dive into the operations of the world's largest manager of homeowners associations.
Carona, who founded Associa 18 months after graduating from the University of Texas at Austin, described the company's humble beginnings with just two employees. Today, Associa employs 24,000 people and has grown through both organic expansion and acquisitions, having acquired more than 200 companies and adding 25 to 30 management firms annually.
Addressing common criticisms of homeowners associations, Carona emphasized their financial benefits. “The most important thing homeowners associations do is they preserve the value for the owners themselves by adding some degree of conformity, some reasonable rules and regulations,” he said. He cited studies showing that property values in communities with mandatory HOAs grow faster than those without. Carona also noted that over 95% of residents in community associations appreciate the experience, and Associa surveys every board of directors three times a year to address concerns proactively.
Technology and training are key differentiators for Associa. Carona highlighted the company's investment in technology to meet rising expectations in the 'Amazon age,' where consumers demand more for less. Associa operates 340 branch offices across 44 states, offering employees mobility without leaving the company. This has contributed to high employee retention, with some staff staying for 25 to 40 years. Employees have voted Associa a national best place to work for nine consecutive years, an achievement Carona called his proudest.
Looking ahead, Associa is expanding into Europe. The company recently acquired the second-largest operator in Spain and expects to become the market leader there by the end of December. Carona described this as the first step in a three-to-five-year rollout across Europe, targeting the UK, France, and Italy, with interest from Germany. Despite varying terminology—such as 'stratass' in parts of Canada—the service model remains consistent.
For those buying homes in Texas's booming growth regions, Carona advised scrutinizing transportation, location, and build quality, as Texas does not license builders. “From time to time, bad actors can come on the scene,” he warned.
The full episode is available now wherever you get your podcasts.
