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Southbank Residents Group

12 Jun 2015

Have you ever attended an annual general meeting (AGM), or wondered who makes the decisions for your building?

Well, each development has its own owners’ corporation (OC) committee which is made up of owners from the development. These owners help to formulate the building policies and rules, set the budgets and authorise expenditure, amongst many other things. They generally meet about every quarter.

So if you ever wondered who decided the barbecue was no longer necessary, I would start there.

Sadly these committees are often lacking volunteers and, likewise, even attendance at AGMs. There is often not a lot of time required on these committees but, to have a good representation of owners ensures due consideration is given by a number of fellow owners and not just a select few.

Do your building, and in many cases yourself, a favour and become active with how it is operated.

At minimum, at least attend the AGM and voice your thoughts and concerns there but, hey, since you’re there, put your hand up and nominate to be on the committee too.

All owners should be taking a more active role in their buildings. It is easy to identify a building with a good committee! An astute buyer can also see this. So these committees are also contributing to preserving and improving the values of our investments.

On another note, the council budget for 2015/16 will be finalised this month. I will be watching closely to see the benefit/impact it will have on Southbank.

Until next month, enjoy winter!

Tony Penna - President

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