Hosting a condo AGM is a crucial step to ensure proper building management and smooth communication between co-owners and the board. However, a poorly planned or managed meeting can lead to tensions or disputed decisions. Here are the best practices to guarantee the success of your next AGM in Quebec.
- Careful preparation in advance :
A successful AGM starts well before the actual meeting. Key elements to prepare include:
- Clear and detailed agenda: Draft a thorough agenda that includes essential topics like approving financial statements, electing board members, or discussing future projects.
- Early communication: Share the agenda, financial reports, and relevant documents at least 10 days prior to the meeting, allowing co-owners to prepare and ask questions.
- Accessibility and convenience: Consider virtual meetings to facilitate participation, encourage remote attendance, and ensure smooth discussions
- Encouraging active co-owner participation :
The success of an AGM depends on co-owner engagement. Here’s how to involve them more effectively:
- Highlight key topics: Emphasize critical issues like renovation projects or upcoming budgets to drive participation.
- Proxies: Encourage co-owners who cannot attend to delegate their voting rights via proxy.
- Questions and feedback: Dedicate time to addressing concerns and suggestions, fostering open and constructive dialogue.
- Efficient Meeting Management
The meeting’s execution is as vital as its preparation.
- Follow the agenda: An experienced chairperson should ensure the meeting stays on track, adheres to the agenda, and avoids digressions.
- Clarity in presentations: Simplify complex data, such as budgets or project details, making them accessible to all attendees.
- Structured decision-making: Use clear voting methods and record all decisions in a detailed meeting report.
- Ensuring follow-up after the meeting :
A successful AGM doesn’t end when the meeting is adjourned.
- Meeting minutes distribution: Share the minutes promptly with all co-owners, including those absent.
- Implementation of decisions: Execute the adopted resolutions and keep co-owners updated on the progress of discussed initiatives.
Conclusion : The AGM is a cornerstone of transparent and collaborative management. By implementing these best practices, you can build trust, strengthen co-owner cohesion, and contribute to the longevity of your building.
- Make your next AGM a success :
At CondoStratégis, we assist Quebec condos in achieving optimal management. Our experts guide you through the AGM process, from preparation to execution, ensuring smooth and effective meetings.
Contact us today to learn more about our services !