For a small 4 unit strata scheme, are we legislated to hold AGMs or carry out any other activities in terms of the owners corporation?
We've bought a unit in a 4 unit strata complex in Northern Melbourne. The only common property is the driveway and the only expense is the strata insurance policy covering all 4 units.
Are we legislated to hold AGMs or carry out any other activities in terms of the owners corporation?
We recommend that your Owners Corporation at least hold an annual general meeting resolving to raise a budget to cover the common driveway and strata insurance expenses.
The Owners Corporations Act 2006 (Act) requires that the Owners Corporation pass resolutions when it takes actions. Passing resolutions and recording them through meeting minutes or ballot results record the decision of your Owners Corporation when it raises funds for expenses each year.
Further, an Owners Corporation is only capable of making legal decisions and validate its actions when it passes resolutions.
Therefore, at a minimum we recommend that your Owners Corporation at least hold an annual general meeting resolving to raise a budget to cover the common driveway and strata insurance expenses.
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Rochelle Castro is the Principal Lawyer of RC & Co Lawyers, a national boutique firm with offices in Victoria, New South Wales and Western Australia. A large part of her practice includes strata, subdivision, general property, building & construction. She has been serving the strata law industry for the past 12 years. She regularly appears in Tribunals and various Court jurisdictions for various strata stakeholders. She annually presents papers on strata and construction law in international research forums. She is also a volunteer trainer of Strata Community Australia’s introduction to strata education program. Rochelle believes that practice of law must be effective, resourceful and clear. Rochelle is a regular contributor to LookUpStrata. You can take a look at Rochelle’s articles here .
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