Governance
April 18, 2024 Published by Grand River Chapter - By Annie Bailey
Why Attend Your Condo’s AGM
Many condominiums hold their annual general meeting (“AGM”) in the spring, so you may be receiving your preliminary notice of meeting and your notice of meeting soon.
Many condominiums hold their annual general meeting (“AGM”) in the spring, so you may be receiving your preliminary notice of meeting and your notice of meeting soon.
If your reaction is “oh no, a boring meeting that doesn’t impact me anyway,” or if you’re a board member looking to convince your neighbours to attend, read on as I explain why your AGM is worth your time.
- Learn about your condominium’s financial health. Your condominium’s audited financial statements and auditor’s report will be presented at the AGM. This is your opportunity to hear how your money was used over the last year and if you have a surplus or deficit budget.
- Vote! The election for any open positions on your condominium’s board of directors will be held at the AGM. This is your chance to hear from candidates and vote for you who want to act on your behalf when making decisions for your condominium.
- Join the board. Even better than voting, put your name forward for election to the board! This is your chance take an active role in your community.
- Help your condominium get quorum. Twenty-five percent (25%) of owners must attend the AGM in-person (including electronically, in accordance with your condominium’s rules for electronic meetings) or by proxy to hold the meeting. Help your condominium meet this quorum requirement by showing up and doing your part.
- Can’t attend your AGM? Make sure you complete and submit your proxy form ahead of time so that you can cast your vote(s) and count towards quorum without attending the meeting. You should receive the proxy form with your meeting notice. If you don’t, contact your property manager or board of directors and ask for your proxy form.
- Many condominiums switched to virtual meetings during the pandemic, but some are starting to return to in-person meetings, which is an excellent way to meet your neighbours and foster a sense of community.
In summary, your AGM is your annual guaranteed opportunity to hear what is going on in your community. You don’t want to miss it.
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