Board of Directors in a Homeowners Association
Worth knowing about general assemblies
The general assembly is the most important meeting for the homeowners association. Here, crucial decisions concerning the association are made. The following points are typically discussed at the general assembly:
Operating budget
Maintenance plan and operating budget
Annual financial statements, including ordinary and extraordinary expenses
The size of common expenses
Execution of any maintenance and improvement projects
Election of board members
Selection of administrator and auditor
A distinction is made between the ordinary general assembly and the extraordinary one.
Ordinary General Assembly
The ordinary general assembly is held every year and typically takes place 3-5 months after the end of the financial year.
Extraordinary General Assembly
Extraordinary general assemblies are held as needed, usually when decisions need to be made regarding maintenance and improvement projects or changes to the bylaws.
Additionally, extraordinary general assemblies are held if there were not enough attendees at a previous general assembly to make a binding decision.
Ensure Proper Notifications for General Assemblies
As a board, you should be aware of the deadlines and formal requirements for notifying members about general assemblies. The notice period for an ordinary general assembly is usually between one week and one month, while it is typically shorter for an extraordinary general assembly. It is essential to comply with the deadline for holding the ordinary general assembly, which should typically take place no later than 3-5 months after the end of the financial year. While there may not be any sanctions for exceeding this deadline, it should be respected. In the bylaws, you can find the minimum requirements for the content of the notification for both ordinary and extraordinary general assemblies. Usually, it is required to include the time and location as well as the agenda for the general assembly in the notification. Be aware that the bylaws may specify additional formal requirements.
Board of Directors in a Homeowners Association
We guide you, who are on your own
We have created guides with good advice for those of you who conduct general assemblies on your own in the homeowners association. You will find tips for before, during, and after the general assembly.
As the chairman at the general assembly, you must be able to act with calmness, self-control, and patience. Additionally, you need to be familiar with various tasks before and during the general assembly, as well as the rules for different types of voting.
We guide you
We have created a guide with tips and advice for you, who will be the chairman/conductor at the general assembly in the homeowners association.
