Associa CEO John Carona recently joined the Building Texas Show to discuss the role of homeowners associations (HOAs) in Texas and the company's future plans. Recorded at Associa's Richardson headquarters, the episode features Carona sharing insights on the origins of the company, now in its 49th year, and addressing common misconceptions about HOAs.
Carona founded Associa 18 months after graduating from the University of Texas at Austin, starting with just two employees. The company has since grown to over 24,000 employees, expanding organically and through more than 200 acquisitions. Associa now adds 25 to 30 management firms annually and operates 340 branch offices across 44 states.
Carona emphasized the financial benefits of HOAs, stating that property values in communities with mandatory associations consistently grow faster. He acknowledged that while over 95% of residents appreciate their HOA experience, the company works to address concerns from the remaining minority. Associa surveys each board of directors three times a year to identify issues early.
Technology and employee training are key differentiators for Associa. Carona highlighted the company's investment in technology to meet modern expectations for efficiency and cost-effectiveness. Associa has been voted a national best place to work for nine consecutive years, with employees often staying for decades.
Internationally, Associa recently acquired the second-largest operator in Spain and aims to become the market leader by year-end. This move marks the beginning of a three-to-five-year European expansion, targeting the UK, France, Italy, and Germany. Carona noted that while terminology varies—such as 'stratras' in Canada—the core services remain consistent.
For homebuyers in Texas's booming Triangle region, Carona advised scrutinizing transportation, location, and build quality, as Texas does not license builders. The full episode is available on popular podcast platforms.
For more details, listen to the Building Texas Show.
