Understanding what happens at this compulsory annual meeting is key to contributing to important discussions and decisions during your body corporate AGM.
An unit owners must meet at least once each year at its annual general meeting (AGM) to discuss matters of the body corporate. The body corporate AGM is the main opportunity for owners to discuss issues relating to their property and elect the committee representatives for the year ahead.
These are some of the most important things your owners corporation should do during a body corporate AGM:
1. Review last year’s AGM minutes
2. Discuss last year’s body corporate financials
3. Review the body corporate arrears policy
4. Review the body corporate insurance policies
5. Decide on the number of committee members required and elect the representatives
6. Appoint or reappoint the strata manager, building manager and other service providers
7. Agree on any major expenditure items such as building painting
8. If time permits allow owners to raise matters in General Business