Unlocking Value in the Super's Apartment

So you're basically saying that the price of the apt is stupidly high compared to its rental value, and that it's a no-brainer to sell that sucker and rent instead.

The problem here is that you're pissing against the wind. The condo board is full of owners, typically gung-ho owners. Many (but not all) of them think that the financials of owning a condo are superior to those of renting a condo. Convincing them that renting rather than owning on behalf of the super is a no-brainer is tantamount to calling them financial idiots who should be renting themselves. Sure, they'll be a few intelligent ones who understand the financial advantages of renting but don't care about the differences on their own pocketbook. However, I can assure you that many think renting is flushing money down the toilet, and that holding the condo will allow it to appreciate in value so that it can be sold later, or whatever else they have convinced themselves on personally.

That said, if you do have the conversation, I'd like to be a fly on the wall in that room.

Selling the apt, distributing the proceeds to shareholers and renting may not be that smart. You get the money today, but have a longer term rent expense. Boards are typically longer-term focused - Why do you want the cash right now?

lol a distribution to unit owners. I dont think that would be in the best interest of the condo.

Sort of a new and odd twist on "taking equity "out with a new mortgage (with escalating, unsupportable rates) - e.g. this version means then renting an super's apartment at some rip-off rates. And possibly not being able to hire a good super, because "even" supers like to have some stability in their living arrangements.

Or did that not occur to you?

There are also all kinds of legal complications if the super's apartment is not already assigned shares.

A variation on that theme, depending on what neighborhood etc. you live in, is to rent the super's apartment out at market rate, then rent/buy an apartment for the super's use somewhere cheaper in the neighborhood.

I believe for oil-burning heating, the super must live within one block of the building, though.

But building on inonada's point, you probably don't have the strength to deal with your fellow shareholders who are in the cult of The Super as Superdeity.

See ph41's first comment.

Here's a suggestion: try to convince ph41 that it's a good idea, see how she reacts. That is how the board will react.