Tips for Committees to Build a Thriving Owners’ Corporation
The most important role within an owners’ corporation (OC) is that of the committee of management. Working together with the OC manager, it is the committee’s role to ensure things are running smoothly. Without good governance, this can be an impossible task. We’ve rounded up some best-practice suggestions to help your committee and community thrive. Preparation for the AGM The annual general meeting (AGM) is an integral date in an OC’s calendar. It is the time for all members to come together, discuss issues, understand progress and vote upon the future direction of the OC. It also the best opportunity a committee has to highlight the hard work they do on behalf of all owners and celebrate achievements. An AGM must be held within 15 months of the previous one, and best-practice is to hold it within three months of the end of the OC’s financial year. To ensure the AGM is as productive as possible, committees should ensure they meet ahead of the AGM to review the financials, appr...