If you have recently purchased a unit in a strata scheme, you’re likely to be invited to attend a strata meeting. While you aren’t legally required to attend a strata meeting, it’s in your best interest to attend to make sure you are kept up to date with any decisions made regarding your property.
As a consequence of the Covid pandemic, many owners corporations have pivoted to holding their meetings online, thereby eliminating the need to hold evening meetings at the strata manager’s office. At Fresh Strata we use Zoom which is widely available online. There are three types of strata meetings, so read on to learn more about their differences and what you need to know about each one.
Annual General Meetings (AGMs)
AGMs are probably the most critical strata meetings for owners to attend. All kinds of residential strata properties (apartment buildings, caravan parks, multi-dwelling development, and retirement villages) and commercial or retail properties, are required to hold an annual general meeting.
AGMs, as their name implies, occur yearly. Legislation dictates that all owners must receive a minimum of 7 days written notice of a forthcoming AGM.
During an annual general meeting, property owners come together to discuss and vote on important issues such as:
- common area by-laws
- legislative changes
- financial decisions
- the appointment of committee members to oversee the running of the complex.
Typically, the format of a strata AGM follows that of any organisation, where attendees are allowed to ask questions, vote, and raise their concerns in a formal setting.
There are certain agenda motions which are prescribed by legislation, but individual owners or the strata committee can propose additional motions. Only motions included on the agenda can be voted on. If an owner wants a motion placed on the agenda, they must contact the secretary in writing, providing the motion and an explanation as to why it is being proposed.
Typically, the annual general meeting agenda will include:
- A copy of last year’s AGM minutes and a motion adopting those minutes
- A copy of that year’s financial statement and a motion accepting those financial statements
- Motions to set the quarterly levies for the next financial year
- Information and motions concerning any insurance policies currently held
- A motion to decide what may be agreed by the strata committee
- Motions to determine the number of members of the strata committee and their election
- An item reviewing any capital works or maintenance plans
- Anything else owners want to be raised at the meeting.
Extraordinary General Meetings (EGMs)
EGMs are meetings held as and when they are needed. They are often called to discuss a specific agenda item, such as major repairs or deal with an owner’s renovation application that can’t wait until the next AGM.
There are two ways to arrange an extraordinary general meeting:
- Either the secretary or strata committee can call one.
- Owners who are entitled to vote and who together hold at least a quarter of the total unit entitlements can also ask for a meeting.
Strata Committee Meetings
Strata committee meetings can be held as frequently or infrequently as needed. These meetings usually discuss and vote on day-to-day administration matters of the owner’s corporation. Some committees meet monthly, some quarterly and some annually. The frequency of these meetings is often a reflection of the standard of the strata management and at Fresh Strata we try to relieve the committee of frequent meetings. Generally, the secretary will call a meeting. If one-third of the committee members desire, they can ask the secretary to convene a meeting.
The secretary must post a notice of the meeting on the strata noticeboard at least three days before a committee meeting is set down to be held. If your owner’s corporation doesn’t have a noticeboard, or if your owner’s corporation is large, the meeting notice must be given or sent to each owner and committee member and must include a detailed agenda.
Lot owners not on the committee may attend these meetings but have no voting rights. Owners also have no right to speak at the meeting without the committee’s approval.
Choose Fresh Strata to Manage Your Strata Property
Fresh Strata has a unique approach to strata management. We are committed to constantly integrating new procedures and we welcome new ideas to enhance our exceptional customer service standards.
At Fresh Strata we are passionate about delivering excellent strata management services, with complete transparency and a core focus on managing strata properties in a friendly and efficient way.
With over 20 years in the industry as an Australian family-owned company, Fresh Strata is your go-to Northern Beaches strata management company in Sydney. Contact us today.