We’re all familiar with scoring methods for neighborhoods that prospective buyers see when looking for a new home, such as walkability, school districts, and crime rates. But there’s a new condo and homeowner association scoring system that you may be less familiar with – Financial, Physical and Operational Health (FiPHO).
FiPHO scores an association on their financial, physical and operational details. This scoring system was developed by Association Reserves and utilizes a database that has identified over 400,000 associations across the country. You can check out that database, called Associations Insights & Marketplace (AIM).
How Does FiPHO Work?
The boards of directors of the applicable associations can upload their financial, physical, and operation details and documents to generate their FiPHO score. The higher, the better. The documents are uploaded to a profile on the AIM website and reviewed to determine the score. Right now, generating that FiPHO score report is free but after Labor Day it will cost $49.99.
Those that purchase a property that is a part of one of these associations are provided with the same documents for free after purchase. However, that doesn’t do much good when prospective buyers want to be sure the association, they’re buying into is financially and operationally sound. This is where AIM and it’s FiPHO score come in handy.
If you’re looking to do your own housing association research, you’ll definitely want to check out The Warren Group’s HOA data. In fact, HOAs are growing in popularity, and we have the data to back that up. In the past, HOA data had a reputation for being difficult to find in one reliable location, but not anymore. Sourced from title research and insurance databases our HOA intelligence spans 351,000 HOA communities across over 2,700 counties nationwide. It also yields 170+ fields of information such as property location, owners mailing address, HOA name, and more. If you’re ready to add our comprehensive homeowner’s association data to your toolkit, just reach out to a data specialist to find a plan that works best for you.