Why Your Scheme’s AGM Matters More Than You Think

The Annual General Meeting (AGM) is more than just a yearly update – it’s a legal requirement and a vital part of running a successful, financially sound, and transparent community scheme.

Here’s what’s at stake when AGMs are neglected or poorly attended:

• No Quorum = No Decisions: Without enough owners present, critical votes on budgets, trustee elections, and maintenance cannot proceed. This delays progress and leaves your scheme vulnerable.Financial
• Risk: Without AGM approval, budgets, levy increases, and financial statements may be left in limbo. This can result in mismanagement, unapproved projects, or even legal disputes.
• Loss of Owner Oversight: AGMs are the main platform for holding trustees accountable, approving the 10-year maintenance plan, and ensuring fair governance.
• Legal Non-Compliance: Failing to hold an AGM is a breach of the Sectional Titles Schemes Management Act (STSMA), which could expose the scheme to legal and regulatory consequences.
• Declining Property Values: Poor governance and unchecked financials deter buyers and can reduce your property’s value.

At the AGM, owners:

• Elect trustees
• Approve budgets and levies
• Review audited financials
• Vote on resolutions
• Discuss issues and plans for the year ahead

At ANGOR, we professionally facilitate AGMs in compliance with the STSMA, empowering scheme executives to lead effectively and ensuring owners can make informed decisions.

Your attendance protects your property investment and your voice in how your community is run.