Homeowners associations can be a source of frustration, even long before a sale closes. Missing documents, unclear rules and last-minute surprises can delay transactions and leave buyers and sellers scrambling.
In a survey of 1,000 homeowners, conducted earlier this year by Platinum Home Builders, 64% said their HOA causes them daily stress; nearly half reported having conflicts with their HOA; and 51% said they made major financial sacrifices over the past year just to afford their HOA dues.
Association Online, a proptech company selected for the 2026 REACH program through the National Association of REALTORS®’ Second Century Ventures, aims to bring greater transparency to HOA transactions.
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In this Q&A, Association Online CEO Mike Schwab discusses why HOA transactions continue to create friction, the misconceptions that often trip up buyers and agents, and how better access to HOA information could make the home selling path easier.
HOA transactions have a reputation for causing delays and frustration. What did you see happening in the market that convinced you this was a problem worth solving?
Schwab: We started by listening to real estate agents. For more than 20 years, we’ve helped facilitate
HOA transactions, and we kept hearing the same frustrations: Agents couldn’t determine who to contact, information arrived too late, costs were unpredictable and last-minute HOA surprises were delaying or jeopardizing closings.
What became clear was that the problem wasn’t simply access to HOA information—it was timing. We realized that if agents had accurate HOA information much earlier, at the listing stage or before, they could set expectations, negotiate more effectively, reduce risk and create a much smoother transaction.
What are the biggest misconceptions buyers, sellers or even real estate professionals have about the HOA side of a transaction?
Schwab: There are several misconceptions we see repeatedly.
First, many people assume HOA information is easy to obtain simply because a property is in an HOA. In reality, every association operates differently, with different contacts, procedures, fees and timelines.
Second, many agents don’t realize the liability they assume by helping with HOA information. Even though their intention is good, they might be using outdated documents, providing incomplete information or documents obtained through improper channels.
Third, sellers often believe that because they live in the community, they already have everything a buyer will need. That’s rarely true.
Finally, many buyers assume all HOAs are basically the same. They’re not. Every association has its own financial health, restrictions, governance and operational practices, which can significantly impact a homeowner’s experience.
Related: Navigating HOA Rules: Considerations for Real Estate Agents, Buyers and Sellers
Association Online aims to bring more transparency to HOA data. Can you walk us through how that can change the experience for an agent from contract to closing?
Schwab: We believe the biggest opportunity is changing when HOA information becomes part of the transaction. Today, most agents don’t receive meaningful HOA information until after a property is under contract. That’s simply too late.
We believe agents should have access to reliable HOA information during the listing process so they can identify potential issues early, properly advise their clients, negotiate with confidence and reduce surprises before they become closing delays.
We also believe information alone isn’t enough. Agents need three things: accurate data, timely delivery and expert guidance when questions arise. Combining those three elements gives agents more confidence throughout the transaction and helps them better serve their clients.
Where do you think the biggest bottlenecks still exist in HOA transactions, and why have they been so difficult for the industry to fix?
Schwab: HOA transactions are difficult because there isn’t a single bottleneck—there’s an entire ecosystem that must work together.
There are hundreds of thousands of HOA communities across the country, each with its own management structure, governing documents, fees, timelines and procedures. Management companies change, volunteer boards change, laws differ by state and information changes constantly.
Unlike property information, much of the data isn’t publicly available or centrally maintained. Transactions require near-perfect accuracy, but even the best HOA data sources typically hit only around 70%.
Solving this challenge requires more than technology. It requires continuously validating information and understanding how every participant—from sellers and buyers to agents, title companies, lenders, managers and HOAs—fits into the transaction.
Agents tell us they appreciate having someone who specializes in HOA transactions, so they don’t have to become HOA experts. They value having reliable information earlier in the process, someone to help answer difficult HOA questions and confidence that they’re reducing risk for both them and their clients.
Looking ahead, how do you see technology changing the way HOA information is shared and verified over the next five years or so? What role do you hope Association Online plays in that future?
Schwab: Technology will dramatically improve how HOA information is gathered, validated and delivered, but technology alone won’t solve the problem.
Artificial intelligence is already making property information easier to access, but HOA information is fundamentally different. Much of it isn’t public, and it changes constantly as boards, management companies, governing documents, fees and financial conditions evolve.
The future belongs to companies that combine advanced technology with deep industry expertise. AI can organize and analyze information, but it still needs trusted, verified data and people who understand how HOA transactions actually work.
Our vision at Association Online is to help create a more transparent HOA ecosystem—one where agents can access reliable information earlier, consumers experience fewer surprises and transactions move to closing with greater confidence.
