Associa founder and CEO John Carona recently appeared on The Building Texas Show, hosted by Justin McKenzie, to discuss the evolution of the world's largest manager of homeowners associations, the misunderstood role of HOAs, and the company's expansion into Europe. Recorded at Associa's Richardson headquarters, the episode covers Carona's journey from starting the company 18 months after graduating from the University of Texas at Austin to leading a 24,000-employee operation.
Carona explained that Associa began with just two employees and grew organically, "one client at a time," and later through acquisitions. The company has now acquired more than 200 separate firms and adds another 25 to 30 management companies each year. He emphasized the financial benefits of HOAs, stating, "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 noted that property values in communities with mandatory HOAs have been shown to grow faster than those without.
Addressing criticism of HOAs, Carona cited surveys indicating that over 95% of residents appreciate the experience. The remaining 4-5% with concerns are a focus for Associa, which surveys every board of directors three times a year to address issues early. The company's commitment to technology and employee training sets it apart, according to Carona. "We live in the Amazon age. People want more for less," he said, emphasizing the need for efficient, cost-effective service.
Associa operates 340 branch offices across the United States, serving 44 states. Employees have voted the company a national best place to work for nine consecutive years, an achievement Carona said makes him "prouder than anything." The company recently acquired the number two operator in Spain, its first large international purchase, and expects to become the number one operator in that market 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 already coming from Germany. He noted that while terminology varies by country—"stratas" in Canada—the service procedures remain similar.
For homeowners in Texas's booming region, Carona advised scrutinizing transportation, location, and build quality, as Texas does not license builders. The full episode is available now wherever podcasts are heard.
