Blog PostJune 10, 2021 - Educational
Annual General Meetings
Annual General Meetings
Before the pandemic, Annual General Meetings were typically held in-person. With restrictions on gatherings, the
industry was required to find a new way to have AGM meetings… the solution was virtual! Overall, virtual meetings
have been very successful as they have resulted in higher attendance, more control over the meeting, and unit owners can attend the meeting from the comfort of their own home.
To adhere to the Condominium Act, a corporation must hold its annual general meeting within 6 months of their year end and the notice for the meeting must go out to the owners 15 days prior to the AGM date. For all those that have December year ends, that time is fast approaching, and this can be a particularly busy time of year for property managers, auditors, and lawyers.
Be sure to notify your guests
As soon as the date is finalized, please let the auditor, lawyer, or any other guests you may want to have at the meeting know as soon as possible. Ideally, they should be notified at the same time as the unit owners. Last minute notice for professionals exposes you to the risk that they might not be available.
Many service providers, including engineers and landscapers, welcome being invited to discuss upcoming projects and address any questions.
There are a few options for holding your AGM, when in-person is not possible. With these alternatives, you're sure to find the right fit for your condominium community.
- Virtual. There are various platforms to hold virtual meetings, such as Zoom or Microsoft Teams. Several third-party hosts are available and can provide a live moderator to communicate, participate and manage the technical aspects of the AGM. These are particularly helpful when the corporation needs to hold an election or vote on passing a bylaw. The downside is that a third-party host can be costly.
- Teleconference. Having all the unit owners call in by using a teleconference number. This option can be helpful for those unit owners who may not be tech savvy or have internet in their homes. It can be trickier to use this platform, as not all phones have a mute option and it can create a lot of background noise that can make it harder to hear the speaker.
- By proxy. This is when you receive proxies from the unit owners, and an AGM is held with only the property manager and the board of directors along with the proxies. This is a good alternative when the corporation is small and there are no major items to discuss. It can be helpful when the corporation only wants to hold an AGM to adhere to the Condominium Act until in-person AGMs can be held.
You may not realize that some service providers may offer alternatives to their virtual presence. If a guest cannot make the meeting due to a scheduling conflict, a pre-recorded video or a written report may be an option. However, this may not be available if the guest was not notified in enough time to prepare these alternatives. These options allow the guest to convey their message without attending the meeting. Any questions that arise can be forwarded to the guest by the property manager after the meeting.
To hold a successful AGM, it is important to ensure all guests and owners have:
- Link to the meeting. It can be helpful to know what platform is being used (Zoom, Microsoft Teams, etc.)
- AGM package. This allows everyone to confirm the details of the meeting and review the previous meeting’s minutes.
- If you have guests, make sure they are aware of any contentious issues related to the material they are presenting so they can be prepared. The last thing you want is for them to be caught off guard.
If your corporation consistently has low attendance and quorum is rarely met, it is crucial to get as many proxies as possible to avoid second and third attempts. Having a successful AGM the first time can save the corporation money as subsequent attendance of guests, third party hosting fees, and mailout costs can add up quickly!
Supervisor at RLB LLP