The Annual General Meeting: Why it’s Worth Your Time
Every Owners Corporation (OC) holds an Annual General Meeting (AGM) once a year. For many owners, it’s easy to let the invitation sit unopened, thinking that the meeting doesn’t directly involve you. But it does. Here’s what the AGM does, and why showing up (or providing a proxy) is one of the most useful things you can do as an owner. It’s where your levies get approved. What’s happening: The AGM is where the annual budget is presented and approved. The budget determines your levy contributions for the coming year. What it means for you: This is the best time to see, in detail, where your money is going – maintenance, insurance, administration costs, and any planned works. If levies are increasing, this is where you’ll hear why. Why it’s worth attending: Once the budget is passed, it’s locked in for the year. If you have questions about costs or want to understand a levy increase, the AGM is your window to ask before it’s finalised, not after your fee notic...