An AGM (annual general meeting) is a mandatory meeting held between a condo corporation and its owners/shareholders. According to the condominium act, at least 25% of owners need to attend their AGM, either physically or by proxy, to reach quorum. If quorum isn’t reached, AGMs are delayed until enough people can attend.
Here are 4 ways to surpass quorum.
Plan and distribute an engaging agenda. The agenda is where owners will evaluate whether they think the AGM would be worth attending. The agenda should include everything that is legally required, in addition to other topics that owners within the community have expressed interest in. Set time to review the minutes from the previous year’s meeting. If there had been any significant changes, take the opportunity and allot time in the agenda to address them. By including matters that resonate with owners, you are more inclined to incentivize their attendance.
Giving appropriate notice is essential to boosting AGM attendance. Depending on where you live, there are laws that outline how much notice is mandatory to give before an AGM. The general rule is that notice should be given at least 21 days prior to the day of the meeting. However, it’s better to give more than the minimum notice, so everyone has enough time to plan, decreasing the chance of conflicting commitments.
While AGM’s shouldn’t drag on for hours, it’s beneficial to use open discussions to encourage owners to ask questions or clarify concerns in your meeting. Giving owners the opportunity to participate will center the AGM around community. Open discussions create an inclusive environment that will make AGMs more appealing to owners. Schedule “Questions and Answer” periods in the agenda so everyone can clearly see that there is an opportunity to discuss matters they find meaningful.
Access to Information
Whether they’ve attended the meeting or not, all owners are entitled to access the AGM minutes so, distribute meeting notes before they ask for a copy. By giving owners access to the meeting notes and the AGM package, owners can review the notes from the previous meeting to determine whether they should attend the next meeting.
To get owners to attend the AGM, ensure they have easy access to this information. 40% of people prefer electronic documents to paper documents because downloadable pdfs are easier to read and can be accessed online from anywhere. An association management software portal can give owners direct access to electronic versions of the AGM package or meeting minutes. Online accessibility increases the likelihood that owners will read documents and find information they deem meaningful enough to encourage AGM attendance.
Reaching quorum is important for many reasons. Surpassing the minimum requirement of attendees ensures that meetings are conducted on time and efficiently. More importantly, when more owners attend the AGM, voting decisions more accurately represent what the owners of the condo or HOA want which creates a more cohesive sense of community.