---
title: Can a condo association or HOA go bankrupt?
description: Is it possible for a condo development or HOA to go bankrupt? I don't understand the situation.
---

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# Can a condo association or HOA go bankrupt?

| [Budgets & Finance](https://www.condoassociation.com/blog/topic/budgets-finance) |   [Fees, Foreclosures, Delinquencies & Collections](https://www.condoassociation.com/blog/topic/fees-foreclosures-delinquencies-collections) |  

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## What do you think? Question:

Is it possible for a condo development to go bankrupt? I don't understand the situation. I live in an over 55 condo development with a few hundred units. We are getting more and more [assessments](https://www.condoassociation.com/blog/tabid/19257/bid/8267/About-Condo-Association-Special-Assessments.aspx) because the units are being vacated and not sold. What happens if the owners cannot afford to keep paying the increased fees, etc. because of all the empties, or the [condo association](https://www.condoassociation.com/blog/tabid/19257/bid/8267/About-Condo-Association-Special-Assessments.aspx) no longer has enough money to pay for water & electric? I honestly mean this next question, even if it sounds silly: what happens if there are only 20 owners left out of 200 and they cannot afford to keep up the payments to carry the development? (Boy am I sorry I fell for the condo hype, should have stayed a renter)

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## What do you think? Answers (4)

#### 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. *  
  

## Related Posts

### [Can a FL condo board charge $100 for financial info on renters?](https://www.condoassociation.com/blog/can-a-fl-condo-board-charge-100-for-financial-info-on-renters)

### [How can condo associations keep property managers in check?](https://www.condoassociation.com/blog/tabid/19257/bid/22697/How-can-condo-associations-keep-property-managers-in-check.aspx)

### [Property management claims back condo fees I dont owe](https://www.condoassociation.com/blog/tabid/19257/bid/69138/Property-management-claims-back-condo-fees-I-dont-owe.aspx)

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