Should a top up for a management rights agreement be listed as an ordinary motion? I thought this would be a Special Resolution and thus require a more positive vote from the owners.
I have been looking at past AGM minutes and noticed a top up for a management rights agreement motion listed as an ordinary motion. The motion was a top up not an option from the contract. I would have thought that granting a 5 year extension that costs 5 x annual payment would equal $400,000. Should this have been a Special Resolution and thus require a more positive vote from the owners.
No, ordinary resolution is the correct resolution threshold for this scenario.
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Chris is a strata unicorn: he is not a strata lawyer, manager or caretaker. He was Queensland’s Commissioner for Body Corporate and Community Management for over 5 years. That is the only role of its type in the world. Chris is also an owner in one strata scheme, and a tenant in another.
As Director of Strata Solve, Chris focuses on communications and strategic advice, rather than legal action, to solving strata problems. Strata Solve works with owners, committees, strata managers and caretakers to tailor practical solutions to stressful strata situations. Chris holds an Honours degree in Communications and is a nationally accredited mediator.
Chris is a regular contributor to LookUpStrata.
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