Associa CEO John Carona joined the Building Texas Show to discuss the origins and growth of the world's largest homeowners association management company, the misunderstood role of HOAs, and the company's expansion into Europe. Recorded at the company's Richardson headquarters, the conversation with host Justin McKenzie covers Carona's journey from starting the business 18 months after graduating from the University of Texas at Austin to leading a 24,000-employee operation.
Carona emphasized the financial importance of HOAs, stating that property values in communities with mandatory associations grow faster than those without. He acknowledged that while over 95% of residents appreciate living in community associations, the remaining 4-5% often have complaints that management companies must address. Associa surveys each board of directors three times a year to proactively identify and resolve issues.
Carona highlighted two key differentiators for Associa: technology and employee training. He noted that in the 'Amazon age,' clients expect more for less, and the company has invested heavily in technological applications to improve service efficiency and cost-effectiveness. Associa operates 340 branch offices across the United States and has been voted a national best place to work for nine consecutive years.
The company recently acquired the second-largest operator in Spain, marking its first major international purchase. Carona expects Associa to become the number one operator in Spain by the end of December and plans a three-to-five-year rollout across Europe, targeting the UK, France, and Italy. He noted that while terminology varies by country—such as 'stratas' in Canada—the service procedures are similar globally.
For homebuyers in Texas's booming growth areas, Carona advised scrutinizing transportation, location, and build quality, as Texas does not license builders, allowing occasional bad actors. The full episode of the Building Texas Show is available now wherever podcasts are heard. Listen to the full episode here.
