For some last Saturday, Jan. 7 passed like any other, but for the dozens of individuals who work for Cadden Community Management (CCM), that day marked an impressive milestone as the company celebrated its 30th year in business.
Originally named Cadden Parfrey Services after current president and CEO F. Michael Cadden – a Navy veteran – and founding partner Scott Parfrey, the business got its current name after Cadden bought out his partner after the turn of the century. Originally managing just two homeowners associations in the Tucson region back in 1987, CCM now manages more than 220 associations across Tucson, Green Valley and Sierra Vista – which represent more than 40,000 individual lots.
At the frontline of the decades-long service to the Tucson community are the company’s portfolio managers, who in simple terms work with homeowners associations to make sure rules and policies are followed by residents, collect and handle association-related financials for each household and make sure all other functions are carried out.
“Our perception is that we protect the value of the homes in the neighborhood,” Cadden said. “We provide a service to the home owners association and the people living there by protecting their investments. … It is an interesting business in that you need to know something about a lot of things, but you don’t really need to be an expert in anything.”
While CCM expends a majority of its efforts working with home owners associations, that was not always the case over the company’s long history. In the early days, Cadden said that much of business was comprised of working with the development community; handling budgets and other development paperwork for the state department of real estate. Over time, and especially as a result of the 2008 financial crisis, the company moved more towards handling homeowners associations as developers left the region.
Once a company handling two associations, CCM has grown exponentially since its founding and more than three times in size since Cadden bought out his former partner in 2001. Now managing between $20 and $25 million in assets a month, Cadden attributes the company’s success and ability to adapt over the years to hiring “good people,” and always setting a goal to grow at a reasonable, sustainable rate.
“It’s about hiring the right people, good people, and then retaining them,” he said.
Rodriguez agreed, saying that by hiring good people and taking care of their employees, they will in turn take good care of their associations and other clients. Aside from benefits packages and salary structure, Rodriguez said that CCM shows its employees love with holiday parties, a day off every month, trips to baseball games, the zoo and more.
“I think that from an employee perspective … Mike Cadden has done a fantastic job in foster a family atmosphere; everybody cares about everybody and we all have each other’s back,” she said. “There is always someone who is willing to help out.”