I told you last year this was coming. John Carona, the Texas State Senator who lost his seat in the last election would be buying some banks. During his years in the Legislature he was criticized for writing, lobbying for and passing laws designed to benefit the HOA business.
Carona tightly controls more than 8000 Homeowners Associations through his company, Associa, making him the largest HOA management firm in the country. Residents of many Associa HOAs have complained bitterly about how difficult life is in these beige compounds. Last year a newspaper talked about how Carona was buying up unrelated businesses surrounding his compounds making it difficult for homeowners to shop at non-Carona controlled firms.
I’ve written repeatedly about the ethics-challenged former Texas state senator John Carona. He’s the billionaire who owns a company that oversees about 9,000 Homeowners Associations across the country. And his rules for homeowner behavior are beyond bizarre.
One that still gets my goat is that a homeowner can be fined for the behavior of any guest who ‘intends’ on visiting his property. No kidding! A Home Depot truck was stopped for speeding. The fake officer asked where the driver was making his delivery. And that homeowner got fined because the Home Depot truck’s first stop was at that homeowner’s house.
