Have you attended an online Annual General Meeting (AGM), either as an owner, manager, or board member in the last year? If so, you’re among the majority, as this is the only way AGMs have been able to meet for the past year due to the COVID-19 pandemic. At Alwington, we believe that this method of holding AGMs is here to stay. Why?
Our managers, boards, and owners have told us that:
They appreciate being able to contribute to the governance of the condominium from home, while travelling, or while away on vacation.
They find that electronic voting is both more transparent and faster.
Owners find that filling out proxies ahead of time is easier (using the electronic system that often comes with online AGM software), while managers find that the burden of collecting and reconciling owner registers with ballots and proxies is much reduced.
They appreciate that the AGMs take up less time. There is less shuffling into and out of rooms.
Residents with limited mobility find that it is easier to attend online meetings.
The potential for one owner monopolizing questions and answer period by being the loudest is reduced, as the manager can rotate through all owners’ first questions before addressing second questions.
The potential for abuse of owners/staff members is reduced – as the moderator can remove owners who do not respect the other attendees.
Ultimately, what is the best measure of owner and board satisfaction? Attendance! Owners “vote with their feet” – they attend meetings that are convenient for them to attend. Across our firm we have noticed a 50% increase in AGM attendance at online vs. in-person meetings. In many cases this has pushed corporations from missing quorum to making quorum!
There are a few different software providers that offer online AGMs. Throughout 2020 and 2021 our firm has tested and used Condo Control Central’s online AGM offering to great effect.
We believe that due to convenience and helpfulness, online AGMs are not a fad that will pass when pandemic restrictions are lifted. We believe that online AGMs will remain an industry staple going into the future.
Written by Michael Trendota, MBA, CPM, RCM President
President of Alwington Communities
Michael is a condominium management professional with experience working closely with condominium corporations, board members, and residents. Using his experience building and operating small businesses, he focuses on creating high-performing teams delivering excellent results to owners, residents, and partners. He has experience operating multi-location properties with large and diverse teams. Michael holds a Masters of Business Administration from Queen’s University, is a Certified Property Manager, a Registered Condominium Manager, and is a CMRAO licensed Condominium Manager.
Michael serves the condominium management industry in several additional capacities. He teaches Physical Building Management and Financial Management at Mohawk College. These two courses form part of the mandatory curriculum for condominium managers in the Province of Ontario. Michael also sits on numerous boards and committees, such as the Association of Condominium Managers (ACMO) membership committee, is a frequent guest speaker and lecturer at the Canadian Condominium Institute (CCI), among a variety of other engagements.
* Though written by a qualified and experienced Condominium Manager, this article is not intended as legal advice. Please consult your own experts for advice
