Annual Meeting of Condominium Owners

Annual Meeting of Condominium Owners

The annual meetings of the condominium owners are part of the routine of those who live or have an apartment or an independent unit in a building. However, few are those who know what the main purpose of these meetings is.

Considering the existing doubts, we have decided to describe all the important information about these types of meetings, so that the owner can carry out his duties in a conscious and responsibly way as a joint owner.

What are the purposes of this meeting?

The condominium meeting aims to bring together residents (condominium owners) to make decisions on various issues regarding the building (condominium), and it is imperative to hold it annually at least once.

list of subjects to be decided at the meeting

During the meetings of condominium owners, the Administration of the Condominium shall:

  • Present to the owners, so that they can approve, the accounts of all revenues and expenses incurred with the common parts of the building in the year that has ended;
  • present the budget for revenues and expenses for the following year;
  • Make a report with information of the year ended;
  • election or re-election of the administration for the following year;
  • Discuss other matters on the agenda sent in the notices;

Meeting Call Letter

At the beginning of each calendar year, it is necessary to hold an annual meeting of Condominium Owners to present the accounts of ended year and approve the budget for the current year. However, if the annual accounting year does not coincide with the calendar year, the meeting should be scheduled by that time (for example, an accounting year beginning on February 1, 2018 and ending on January 31, 2019, the meeting should be scheduled for February 2019).

The meeting must be scheduled by registered letter with notice of receipt sent to all the owners, at least ten days in advance or delivered personally, with a signature in a document proving the receipt of the letter. In the case of not being sent the convocation to one of the owners, the meeting of the Assembly is invalid.

If the letter of convocation for the meeting is sent to the address of the owner and he does not receive it, the meeting will remain valid, as well as the decisions taken.

What should appear on the notice of the meeting of the Assembly

The notice of the meeting of the Assembly shall include the day, time, place and specification of all matters to be appreciated by the joint owners.

Note: In legal terms, the generic mention of the subject (example: “other matters of the condominium”) has no legal value.

Meeting Day

Once on the day and time of the meeting, the joint owners must sign the list of joint owners in order to confirm the quorum of the Assembly (number of votes present), since each owner has as many votes as the percentage of his independent unit.

If there are not 50% of the votes present to start the meeting, a second call must be marked and sent, following the same process as the previous one, with the same subjects to be discussed. In this case, the Law allows the meeting to be started with only 25% of the total votes.

I can not be at the meeting, now what?

If the condominium owner can not be present, he may be represented by another person, provided that he has a letter identified and signed by the owner.

Report of the Condominium Meeting

During the meeting of the Joint Owners, a report must be written with all approved or disapproved resolutions, as well as all amounts in debt by the condominium owners, in order to be able to charge the amounts in debt at the Court. At the end, it must be signed by all those present, in order to make it valid.

Although it may seem like a simple meeting, the Annual Meeting of Owners is the way to make important decisions regarding the proper functioning of the condominium. Therefore, it is important that the owner is present and actively participates in these meetings, knowing how to use their rights and duties as an active part in the proper functioning of the condominium.