A Paddocks Sectional Title Lifestyle Blog
AGMs are notorious for being poorly attended.
In my experience working as a managing agent I found that poor attendance was often for one of the following reasons:
I’m here to give you a Monday shoulder shaking to tell you why you really SHOULD go.
The decisions made at the AGM directly affect your money!
If you need more here goes:
1. This is where the budget that determines your levies is accepted
Meaning that if you attend you can influence how high or low your monthly levy will be.
2. This is where major proposed common property works are discussed
If the lift needs replacing or the building needs repainting you can bet that it’ll be on the agenda at the AGM and the next steps may well be decided upon in your absence if you choose not to attend.
3. This is where the trustees are elected
The trustees are the owners’ representatives and they are allowed to make the day-to-day management decisions on behalf of all owners in the scheme. They control the purse strings and can raise special levies without consulting you (additional levies over and above the general levy). I blogged about that here.
4. The owners can impose restrictions or directions on the trustees
This is a great opportunity for you in conjunction with the other owners to put spending limits on the trustees or to direct them to a take a particular course of action.
5. You can find out how the body corporate’s finances have worked over the past year
The AGM is the perfect opportunity for you to ask the outgoing trustees and the managing agent about how the body corporate’s funds were spent over the last year and to clarify any grey areas around the management of the body corporate’s money.
Just remember that if you choose not to attend the AGM, you might not like some of the outcomes from the meeting. You may complain about these afterwards but your complaints will most likely fall upon deaf ears. Why? Because you had the opportunity to attend and chose not to.
Do you attend your AGM? Is it worth it? Comment below.
Image source: http://www.livingforimprovement.com
Totally agree and if you cannot attend the least you can do it give your proxy to a trustee for quorum purposes.- how many AGMs have to be reconvened because of a lack of a quorum? Too many!
i have been at meeting where the only person present was a lady that did the rentals for one of the owners! An item of the agenda stated there would have to be a special levy of R450,000 to replace the elevator – even that didn’t get owners to attend!
At the reconvened meeting there were two people, one being the rental agent (again with a proxy) and the other her client who had 4 units in the 19 unit block – i have no pity for owners that do not attend AGMs – they must have so much money that they just don’t care what happens with their investments.
I received a fine 2days before my BC AGM. I was accused under the ST Act, of driving a nail into the wall, as I have had an electric fence for the past 41/2 years, and the HOA has declared 2yrs after I put mine up, that they must all come down. So i’m accused under ST but fined under HOA. as I had been fined, I was told at the AGM, i’m not allowed to speak ,so when I was giving directions and placing restrictions, the MA said the meeting was closed, and they were not going to hear me. Again a month later at our estates AGM, I was not allowed to vote. I’m not paying the fine which I dispute, but am paying my levies, and always have. In our estate, one doesnt get a hearing and one is not allowed to dispute anything, just pay up and shut up.