Global residential property management group welcomes HomeRiver Group’s HOA division, which oversees more than 40,000 homes
STOCKHOLM, SWEDEN, MIAMI and TAMPA, FL – July 9, 2024 – Odevo, the rapidly expanding international leader in residential property management, continues its U.S. growth with the addition of the Tampa, Florida-based HOA division of HomeRiver Group. Led by President Brad van Rooyen, HomeRiver Group’s HOA division enhances the lives of more than 80,000 residents of more than 40,000 homes across the Tampa, Orlando, Fort Myers and Naples markets.
Operating since 2005, HomeRiver Group’s HOA division provides full-service association management, including facilities management, financial management and administrative services, for a wide range of condominium, townhome and single-family/HOA communities. It was previously affiliated with HomeRiver Group, but van Rooyen sought to join an organization that focused on the same services his division provides and can bolster its growth objectives.
Together with Miami-based KW PROPERTY MANAGEMENT & CONSULTING (KWPMC), the addition of HomeRiver Group’s HOA division gives Odevo more than 130,000 homes under management in Florida alone.
“We are excited to join forces with Odevo and its participating companies,” van Rooyen said. “In Florida, our division and KWPMC collectively provide service options for every association in the state and share strong corporate cultures and accounting and finance expertise. We are in the process of an exciting rebranding campaign that we will share more details about in the coming months.”
After debuting in the U.S. in 2022 with KWPMC, Odevo has successfully expanded its U.S. portfolio to include renowned property management firms Spectrum AM and William Douglas, now managing over 400,000 homes and generating $260 million USD in revenue in the U.S. This reflects the company's momentum to further pursue growth and provide industry-leading services to homeowner associations across Europe and the U.S. Since its foundation, Odevo has achieved a thirtyfold increase in revenue and maintained an average annual growth rate of 71% between 2019 and 2023, with the group's revenue now exceeding $630 million USD.
Odevo has a unique approach to creating a leading international group of complementary property management with top-tier local service offerings. It promotes a strong chain of individual brands to join an international group to drive an industry leading service product in the many communities served.
“Having Brad van Rooyen and his team join us positions our group to be the leader in Florida association management,” said Paul Kaplan, CEO of Odevo U.S. “The needs of Florida associations continue to evolve amid major state law changes and changes in the insurance landscape. We are uniquely suited to guide these associations through the ongoing shifts.”
Odevo plans to continue its growth journey, by increasing its portfolio of homes under management organically, attracting additional companies to join the group and expanding its service offerings beyond traditional property management. It is investing significantly in technology, expanding from four to 150 developers in just four years. This approach has secured leading positions in Sweden, Finland, the United Kingdom and the United States in just a few years.
“In less than two years since our U.S. arrival with KWPMC, we have created significant momentum through the addition of established local brands in Florida, the Carolinas, Texas and beyond,” said Daniel Larsson, Group CEO at Odevo. “Our ultimate goal is to enhance the lives of millions of residents across the U.S. and worldwide.”
About Odevo
Established in 2019, Odevo is a fast-growing international company challenging the property management industry, not least through its focus on technology innovation. The Odevo Group consists of 5,500 employees and has an annual revenue of nearly $630 million USD. The average growth between 2019 and 2023 was 71% per year, about 14% of which was organic. Odevo plans to continue its strong growth and invites more companies to join their journey to transform the homeowner experience all over the world.
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