Association Evaluation

What Association Evaluation does

Association Evaluation LLC is a Chicago-based private real estate data analytics firm founded in 2013 that produces standardized risk ratings for condominium and homeowner associations. Its core product, PARScore, assigns each association a score from 400 to 900 — modeled after consumer credit scores — derived from a proprietary algorithm that evaluates more than 140 data points and thousands of public records covering financial reserves, special assessments, lawsuits, governance policies, physical inspections, and board composition. The deliverable is the PARReport, a multi-page evaluation document, supported by the PARRegistry, which assigns every association a permanent identification code (PIC) for longitudinal tracking.

The company generates revenue through transactional one-time fees ranging from $300 to $850 per report, priced on a tiered schedule based on the number of units in the subject association. Distribution combines a self-serve, product-led growth website (30-second signup, no credit card required, 844-PAR-SCORE phone support) with sales-led B2B channels targeting Realtors, mortgage lenders, banks, and insurance carriers who integrate PARScore into underwriting and due-diligence workflows. Free Condo Buyer's and Seller's Kits — including trademarked contract riders — serve as top-of-funnel lead generation aimed at embedding PARScore into real estate transactions.

The operating geography is the United States, where approximately 324,000 homeowner associations govern 25.9 million homes and 63.4 million residents. The company is small (11–50 employees), has not disclosed external funding, and continues to operate without a public IPO. Its intellectual property — PARScore, PARReport, and PARRegistry — is patent pending or trademarked and insured through IPisc. Customer segments span individual home buyers, real estate professionals, banks and mortgage lenders, insurance carriers, association boards, and refinancing consumers.

Name

Association Evaluation

Legal name

Association Evaluation LLC

Website

https://associationevaluation.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Chicago-based private firm providing a FICO-like 400–900 risk score for condominium and homeowner associations, built from 140+ data points and on-site inspections, sold on a per-report basis to home buyers, lenders, insurers, and real estate professionals across the United States.

Ownership category

akta.pro rank

Product category

Real Estate Analytics & Due Diligence

NAICS

Building Inspection Services (541350), Offices of Real Estate Appraisers (531320)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro primary industry

Condominium Association Management (BPAJAHAA)

akta.pro secondary industries

Association Accounting, Budgeting & Financial Reporting Services (BPAJAHAL), Credit Bureaus & Consumer Credit Reporting Agencies (FSAKAKAA)

Keywords

• Condo association ratings
• HOA due diligence
• Real estate analytics
• Association risk assessment
• Property due diligence

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. PARScore Transaction Reports: One-time fee per transaction report based on the number of units in the association. Pricing ranges from $300 to $850 depending on community size. Includes site visit, complete viability study, and PARScore rating.
2. Bulk Pricing: Reduced bulk pricing available for multiple transactions. Pricing schedules are subject to change and not published publicly.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Association Evaluation sells standardized analytical rating reports for condominium and homeowner associations. Each PARScore report delivers a 400–900 numerical rating (modeled after FICO) backed by a multi-page PARReport covering 140+ data points — association financials, reserves, special assessments, lawsuits, board minutes, and on-site inspection photographs of common elements. Reports are ordered online, completed in about 5 business days, and priced on a tiered per-unit basis. The company serves both individual home buyers/sellers and institutional users such as banks, mortgage lenders, and insurance carriers.

Product overview

Association Evaluation offers a unified product ecosystem centered on PARScore™, a standardized rating system for condo and homeowners associations. The core offering consists of three integrated components: PARScore™ provides a proprietary 400-900 rating score (modeled after credit scores) derived from analyzing 140+ data points; PARReport delivers the detailed multi-page evaluation report with financial, physical, legal, and governance analysis; and The PARRegistry maintains the comprehensive association database with unique identification codes. The company also provides free consumer resources (Condo Buyer's Kit and Condo Seller's Kit) to educate buyers and sellers about association due diligence.

Differentiator

Problem solved

Functional benefit

Brands

• PARScore: Proprietary fact-based standardized analysis and rating system that provides a comprehensive assessment of the health, safety, security, and creditworthiness of a condominium or homeowners association. Scores range from 400 to 900.
• PARReport
• PARRegistry

Products and services

• PARScore™ A proprietary fact-based standardized analysis and rating system that evaluates the financial and physical health of condominium and homeowners associations, providing a score from 400 to 900 modeled after credit scores. Used by individual home buyers, mortgage lenders, banks, and insurance carriers for pre-purchase due diligence and risk assessment.
• PARReport A comprehensive multi-page document that delivers the PARScore rating plus detailed analysis of association financials, physical conditions, legal status, and governance policies, including Top Five Positive and Negative Factors and photographs of common areas. Provided to home buyers, lenders, and insurance carriers as part of the PARScore transaction.
• The PARRegistry A nationwide database and evaluation process that assigns each condominium or homeowner association a unique Permanent Identification Code (PIC) and maintains registry information supporting PARScore and PARReport production.

Quantifiable outcome

• 72% of associations are underfunded, making due diligence essential
• +3 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Scale indicators7 records

Recent moves5 records

Expansion highlights6 records

Broad incumbents

• CoreLogic: Major real estate data and analytics provider serving lenders, insurers, and government. Comparable in compiling and scoring large real estate datasets for institutional buyers — a potential acquirer or competitor for standardized association data.
• FirstService Residential: Large U.S. property management company for condominium and HOA communities. Comparable target customer base (condo/HOA associations) and overlap in financial and governance data, but operates at the management layer rather than the rating/evaluation layer.
• AppFolio: Cloud-based property management software with a dedicated HOA/condo association product (AppFolio Association Management). Comparable because it serves the same association customer base with financial and document-management tools, and could feasibly add standardized rating.
• RealPage: Large enterprise software platform for the real estate industry, including multifamily and HOA-adjacent asset classes. Comparable as a broad real estate data and analytics incumbent with the scale to enter association scoring.

Direct peers

• Association Reserves: Industry leader in reserve study services for HOAs and condo associations — they produce the '70-72% underfunded' statistic cited by Association Evaluation. Highly comparable because both produce financial-health analyses for the same association client base, though Association Reserves focuses on reserve adequacy rather than a composite score.
• Vantaca: HOA/condo association management software with financial, governance, and document workflows. Comparable in serving the same association buyer and overlapping deeply in financial reporting and governance data that feeds PARScore.
• Buildium: Property management software platform serving HOAs and condo associations. Comparable customer base and adjacent functionality (financial reporting, document management) — a logical partner or competitor for adding standardized association rating.
• PropLogix: Real estate due diligence and risk-reporting platform for title and property-related services. Comparable in delivering structured due diligence reports to lenders, real estate agents, and buyers — overlapping in on-site inspection and document review workflows.

Regional players

• HOA Management Services: Regional HOA and condominium association management company. Comparable in serving the same HOA/condo customer base and accessing the same financial and governance data, but operates regionally rather than nationally.

Emerging players

• HouseCanary: Real estate analytics and valuation platform for residential properties. Comparable in applying proprietary scoring/analytic models to residential real estate data, and could expand into HOA/condo association scoring given its lender and institutional user base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/assocevaluation

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Association Evaluation