Homeowners can finally rate their HOA.
Agents finally have visibility before buyers commit.
77 million Americans live inside HOA-governed communities managing more than $11 trillion in residential property value and collecting an estimated $140 billion annually from homeowners.
Yet despite the scale of the system, there is still no standardized public mechanism for measuring governance quality, operational trust, or homeowner experience.
The result may be one of the largest hidden inefficiency gaps in American housing.
HOAs Unmasked explores how an estimated $28 billion in annual waste may exist inside the HOA system through fragmented oversight, deferred maintenance, vendor inefficiencies, poor communication, insurance instability, reserve mismanagement, avoidable legal conflict, and the absence of meaningful transparency standards.
Before buying a home, consumers can research school districts, flood zones, taxes, crime statistics, and nearby restaurants.
But they still cannot easily research the one thing that most determines long-term quality of life and financial predictability:
How the community is actually governed.
Until now.
HOAs Unmasked is the first book to expose the hidden systems driving HOA costs, governance failures, homeowner frustration, reserve instability, special assessments, and declining trust across America's HOA industry.
Drawing from real-world board leadership, operational investigations, homeowner case studies, and the creation of the nation's first searchable HOA ratings and reviews platform, Bill McKay reveals:
• Why many HOA boards operate with limited visibility into the contracts and systems controlling their communities
• How management structures can separate authority from accountability
• Why homeowners often absorb rising costs without meaningful transparency
• How reserve failures, deferred maintenance, and insurance pressures quietly compound over time
• Why buyers, lenders, insurers, and real estate professionals have historically lacked a standardized governance signal
• How verified homeowner intelligence may fundamentally reshape accountability across the $11 trillion HOA system
At the center of the book is the introduction of the Community Trust Index™ (CTI™) - a new transparency framework designed to measure governance performance through verified homeowner participation across five pillars:
Governance, Financial Stewardship, Maintenance, Communication, and Emotional Trust.
Part investigation.
Part systems analysis.
Part homeowner awakening.
HOAs Unmasked challenges one of the largest yet least transparent systems in American housing - and introduces a new model built around visibility, accountability, and verified community trust.
If the HOA system manages $11 trillion in residential property value and collects $140 billion annually from homeowners...
why has nobody been measuring trust?
