The Annual General Meeting (AGM) is the sole decision-making body of any co-ownership. Convening all co-owners at least once a year, it approves the accounts for the previous financial year and adopts the projected budget for the upcoming year.

It also decides on the execution and financing of various works, whether large-scale (roofing, facades, boiler room, elevators, green spaces) or more minor, the renewal of the “syndic”’s (Property Management Company) contract, the appointment of members to the co-ownership council, the termination or signing of new maintenance and service contracts, and various authorisations requiring special powers.

As you can see, the AGM is of utmost importance, and decisions taken can have significant legal and financial consequences for you. However, the complexity and length of the meeting agendas often discourage co-owners. Many don’t even look at the extensive documents until the day of the AGM, or at all.

Taking the time to prepare, understanding the intricacies of co-ownership, adopting the right strategy, and being persuasive and skilled with fellow co-owners will positively impact your financial interests.

Exercising your right to voice your opinion is one of your most important co-ownership prerogatives. Make the most of it, and rely on our expertise!