I (Vishrut) have worked for some of the largest asset managers in the world – Blackrock and AQR. I was part of their quantitative teams so have always been biased towards heavily analyzing every single number that affects my life. My monthly HOA expenses have not been an exception. When I purchased and sold my apartments, I always paid close attention to my HOA but found out that I could not find anything online to use as a benchmark.
Was my HOA doing a good job? Were they paying too much for electricity or insurance – I had no idea!?
Not being able to rely on data I have had two good experiences and one awful one where my HOA increased by more than $200/month over the span of two quick and painful years. After leaving the finance industry I found myself in a perfect position to tackle this problem. I was certain that my financial and quantitative knowledge combined with the abundance of new data being generated every day can help me solve the problem of the promiscuous HOA.
I knew that Atin was in the same boat and how complimentary his skills were to mine so he was a natural co-founder. Luckily, he felt the same way and we started Inspect HOA!
Our goal is to make HOAs as transparent as possible. We don’t want people to be overpaying for their HOA or living in a house of cards with not enough reserves to cover a roof replacement. We gather data from real estate professionals, HOA companies and home owners and then apply our skills to analyze it. By utilizing technology and modern statistical techniques we have cut the time it takes to analyze HOAs performance to just a few hours. We compare all expense to the average in the country, the city or even the zip code! We help you and your building save on all kinds of expenses – from insurance to pool cleaning to electricity.
The number of happy clients we have had so far makes us proud. We are continuing to push for transparency because that’s the only want to solve a problem and align incentives. Please, join us in our journey!