A Strata Meeting, more specifically an Annual General Meeting (AGM) is a key event for any strata property, held once a year to discuss important matters regarding the management of the strata company. The AGM provides owners with the opportunity to review the financial performance of the strata company, make decisions about upcoming budgets, vote on major repairs, and elect the council of the strata company. Attendance at the AGM is not mandatory, but it is highly recommended for owners who want to stay informed and have a say in how their property is managed.
What Happens at an AGM?
The AGM covers a range of essential topics, including:
- Reviewing Financial Statements
Owners will be presented with the strata company’s financial statements, including the balance sheet and income/expenditure report, to assess the financial health of the property. - Setting Strata Levies
Strata levies for the next financial year are discussed and approved based on the upcoming budget and anticipated expenses for repairs, maintenance, and insurance. - Electing the Council of Owners
The Council of the Strata Company is elected at the AGM. This council is responsible for making decisions on behalf of all owners throughout the year. - Maintenance and Repair Decisions
Major repairs, upgrades, or maintenance projects for the common property are typically discussed and voted on. - Reviewing By-laws
The AGM may also include discussions about updating or amending the strata scheme’s by-laws.
Do You Have to Attend the AGM?
While attendance at an AGM is not compulsory, it is highly encouraged. As an owner, your voice and vote can influence important decisions about how the property is managed. However, if you cannot attend the meeting, you can still participate by proxy voting. You can appoint another owner or a trusted representative to vote on your behalf, ensuring your interests are represented.
For more information on how to vote outside of an AGM.
What if You Miss the AGM?
If you miss the AGM, the decisions made during the meeting will still apply to you. These could include levy increases, new by-laws, or important maintenance work. The minutes of the meeting, which summarize the key decisions, will be made available after the AGM, so you can stay informed even if you were unable to attend.
Why Should You Attend?
Attending the AGM gives you the opportunity to:
- Have a say in key decisions
Your vote counts on important issues like setting levies and approving major repairs. - Stay informed
You’ll receive updates on the financial status of your strata company, planned maintenance projects, and any changes to by-laws. - Ensure transparency
By attending, you can ask questions, raise concerns, and ensure that the strata company is being managed in the best interests of all owners.
For more information on how strata meetings are conducted, visit our meeting guidelines.
How often are AGMs held?
AGM’s are typically held once a year, and the timing is determined by the individual strata company based on its own schedule and financial year. The Strata Titles Act 1985 (WA) requires that an AGM be held within a certain period, typically 15 months after the previous AGM, but the exact date is decided by the council of the strata company.
Owners will receive a notice of the AGM, usually at least 14 days in advance, which specifies the date, time, and location of the meeting. It’s important to attend or participate via proxy as key decisions about the property are made during the AGM.
What Happens After the AGM?
After the AGM, the council members elected during the meeting will be responsible for managing the property on behalf of all owners. The minutes of the meeting, which record the decisions made, will be distributed to all owners. It’s important to review these minutes to stay informed, especially if you were unable to attend.
If you need more information on AGMs or how to participate in proxy voting, don’t hesitate to reach out to your Strata Manager.
