FREE Newsletter
Enter your details to receive our Quarterly Newsletter and Weekly Client Alerts

Free Services
Express Enquiry
    All fields are required
Testimonials

First Annual General Meeting (AGM)

 

It is imperative that the original owner organise an AGM within 2 months of the end of the initial period. Fines of up to $1,100 are applicable for non compliance. All Strata Solutions can assist you with this process. Notification is an essential element in calling the first AGM, Notices must be received by those on the Strata Roll including:

  • Each owner
  • Each first Mortgagee, and
  • Covenant charge 

The original owner must provide the following at the first AGM, A breech by not providing the following can result in a fine or penalty of up to $11,000.

  • Maintenance and service manuals, specification diagrams, all plans, depreciation schedules, occupation certificates and any other documents or plans that relate to the new Strata Scheme; 
  • Fire safety certificates, any warranties relating to the scheme building or equipment, copies of development consents, and compliance certificates, and sewer diagrams; 
  • Certificates of title for common property plus the Strata Roll and other relevant documents; and The latest financial statements and audited accounting records. 

Please note that this list is not exhaustive and should be used for reference only. Please [click here to submit an enquiry] if you would like All Strata Solutions to assist you in preparations for your first AGM.

Conduct of the First AGM

Normally the first AGM will follow a set agenda, which will include the following:

  • Insurance cover, accounting records, and levies; 
  • The election of an executive committee, appointment of office bearers, preparation of a 10 year sinking fund, By-laws; and 
  • Appointment of Strata Management Agents and appointment of caretakers. 

If the original owner does not hold the first AGM within 2 months of the end of the initial period then an Adjudicator may appoint someone to hold the meeting. An Adjudicator may be appointed on application of a lot owner, the Owners Corporation or a mortgagee of a lot.

Our expert team can provide you with more information or assistance with a Strata management issue. Complete and submit the Express Enquiry form on the top right hand side of this page and we will contact you to discuss your enquiry or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment.