For some new owners within a strata scheme, the idea of attending your first Annual General Meeting can seem about as appealing as pulling teeth. However, these meetings are as constructive as they are vitally important. This is your chance to have your say on how your strata property is managed, serviced and maintained. If you’re new to the world of strata, let us take you through what to expect.
The first you’ll likely hear of your Annual General Meeting is through a notice from your strata secretary or manager at least 7 days before the meeting is to be held. This notice will include a detailed agenda including the topics of discussion for the meeting and any other relevant information to the meeting. If you have an issue for the agenda, you will need to write to the secretary or manager prior to this notice.
Attending the meeting
The AGM will go ahead if a quorum is in attendance – that is, at least a quarter of the people who are eligible to vote. Annual General Meetings are required to cover a range of set topics, including:
If you cannot attend you may be able to nominate a proxy to vote on your behalf, or depending on your strata scheme’s by-laws you may be able to vote on matters through teleconference calls, email or other electronic means. While most decisions can be determined by a general resolution or minimum 50% vote, particular motions may require a:
New NSW changes to the strata scheme AGM
The Strata Schemes Management Act 2015 sees a number of changes to the AGM process. One is the encouraged adoption of electronic means to be able to vote at the AGM. Another is improved representation of tenants within the strata property through a tenant representative, if over half of the residents of the property are renting. Strata managers also now have maximum contract lengths of 3 years and are required to provide three insurance quotes from separate providers. These new measures are all designed to improve impartiality and clearer communication at your Annual General Meeting.