This is a slightly random one but I'm looking for clarity on my thinking if possible.
For background I own an apartment in a leaseback, the leaseback is run by a co-owners society due to the previous failure of companies used to run the site. I have no mortgage on the apartment. When the site was granted planning around 2007 the licence for the site only allowed it to be used for tourism purposes so no option for just having as a holiday home even at the end of 20 years as this would breach criminal law in France. In order for this the site licensing to be changed it needs 100% of co-owners to agree and then a request to the local council who may or may not approve it. As a rental property the return on investment is poor and would not be of interest to a buyer in my view even at a low price due to the fact after all expenses there would be a net cost each year.
Cutting to the chase my question is I'm resigned to the fact my apartment is pretty much worthless and have written off this cost in my mind. What I now want to do is avoid paying out around 2k per year in net costs for somewhere I don't use and see no option to dispose of as I've tried this at a 75% discount to the purchase price for a number of years. My intention is to advise the co-owner association and the management company I intend to stop paying the mgt fees and do what ever I can to enable them to quickly force a sale at an auction to finally get rid of this nuisance. I understand the management company need to go to court and it might take time, given I'm supportive of it going to auction is there anyway I can help facilitate this process smoothly that people are aware of or anything I need to be careful about?
thanks In advance.