---
title: Money raised needed to replace four elevators
description: I don't believe a bank would lend money based on our finances at present and the amount required will be close to $1mm to replace our elevators.
image: https://www.condoassociation.com/hubfs/elevator-939515_1920.jpg
---

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# Money raised needed to replace four elevators

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## What do you think? Question:

This question is submitted by John S. out of New Jersey

Our Condo Association has large negative retained earnings despite having raised maintenance fees three times over the past two years. We need to raise money again to replace four elevators. 

I don't believe a bank would lend money based on our finances at present. The amount required will be close to $1mm to replace our elevators. We cannot raise maintenance fees further. Any suggestions?

 

 

Thoughts?

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## What do you think? Answers (8)

#### What are your thoughts on this topic?

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

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