Associa, the world's largest manager of homeowners associations, is expanding into Europe while its founder and CEO, John Carona, works to correct misconceptions about HOAs in Texas. Carona appeared on the latest episode of the Building Texas Show, hosted by Justin McKenzie, to discuss the company's 49-year history, the role of HOAs in property value preservation, and plans for international growth.
Carona founded Associa roughly 18 months after graduating from the University of Texas at Austin, where he worked three jobs to support himself. The company started with just two employees and has grown to 24,000 employees through organic growth and acquisitions. Associa has acquired more than 200 companies and continues to add 25 to 30 management firms annually.
Much of the episode focused on addressing strong opinions about HOAs. Carona made a financial case for them, stating that property values in communities with mandatory HOAs have been shown to grow faster than those without. He acknowledged that while surveys indicate over 95% of residents appreciate the experience, 4-5% do not, and it is the management company's job to address their concerns. Associa now surveys every board of directors it represents three times a year to catch problems early.
Carona highlighted technology and employee training as key differentiators for Associa. The company operates 340 branch offices across the United States, serving 44 states. Employees have voted Associa a national best place to work for nine consecutive years, a fact Carona said makes him prouder than any other achievement. The company's footprint allows employees to move between markets without leaving the firm, contributing to long tenures of 25, 30, and even 40 years.
Internationally, Associa 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 opening move in a three-to-five-year rollout across Europe, with the UK, France, Italy, and Germany on the list. He noted that while terminology varies by country—such as "stratras" in Canada—the services are essentially the same.
For homeowners in Texas's booming triangle, Carona advised scrutinizing transportation, location, and build quality, emphasizing that Texas does not license builders, which can allow bad actors to enter the market. The full episode is available now wherever podcasts are heard.
