Why You Should Never Miss Your BC's AGM (And What You Should Look Out For)

As an owner, you're part of a community. And like any good community, it thrives on participation. That's where the Annual General Meeting (AGM) comes in. It's your chance to have a say in the decisions that affect your building and your fellow owners. Come well prepared to the AGM after having scrutinized all documents attached to the agenda.

While it might seem tempting to skip the AGM, especially if you're busy, it's a crucial event you shouldn't miss. Here's why:

a. It's Your Right and Responsibility:

The AGM is the foundation of democracy in your BC. As an owner, you have the right to vote on important matters like the budget, maintenance plans, and even the election of the Board of Trustees. Skipping the AGM means giving up your voice in shaping your community's future.

b. Staying Informed:

The AGM is a goldmine of information about your BC. You'll hear about the financial health of the building, any upcoming repairs or renovations, and the committee's plans for the year. This information can help you understand the direction your community is heading and ensure your concerns are addressed.

c. Identifying Potential Issues:

The AGM is an opportunity to spot potential problems early. Listen carefully to the reports and discussions. You might pick up on issues that haven't been formally raised yet, giving you a chance to raise them and contribute to finding solutions before they escalate.

d. Building Connections:

The AGM is a chance to connect with your fellow owners, the Board members, and the management team. You can ask questions, build relationships, and foster a sense of community within your scheme.

e. Ensuring Accountability:

The AGM and legislation allow owners to hold the Board accountable for their decisions and actions. By attending and asking questions, you can ensure that the committee is transparent and working in the best interests of all owners.

What To Look Out For During The AGM:

The Budget: Carefully analyze the proposed budget and understand how your levies are being used.

Maintenance Plans (MRRP): Review the planned maintenance schedule and ensure it addresses any urgent issues or long-term needs.

Board Performance: Assess the committee's performance based on their reports and responses to questions.

Financial Reports: Scrutinize the financial reports and ensure that they are accurate and transparent.

In Conclusion: Attending the AGM is essential for every owner. It empowers you to participate in decisions, stay informed, and contribute to a thriving and well-managed scheme. Don't let your voice go unheard – make sure you attend the next AGM and be a part of shaping your building's future