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Be mindful of upcoming AGM's


Blog by Ray Estrella | January 24th, 2025


If you're purchasing a townhouse or condo, you gotta be mindful of when the AGM and know if that meeting is happening before your completion date. 

So, if you set a completion 2 to 3 months out, and and the AGM happens in between, there may or may not be changes to your property prior to moving in.

So during an AGM, there may be 3 changes that may occur that may change some substantial information about your property.

1. Special levies:
An AGM is the most common time that the strata will vote for a special levy they've been talking about months before.  Now if a special levy is proposed, this is actually a very good case scenario as per the strata property act, the seller would be responsible for the entire amount of the special levy. 

2. Bylaw changes:
During the AGM, you may see some chnages to bylaws.  However, with the minutes that you should have reviewed, you should know what bylaws they would be addressing or altering.  And with age restrictions and rental restrictions now out of the picture, changes in bylaws at the agm are likely to be minor.

3.  Strata fees:

This is actually a common change that will occur during the agm.  So, if your completion date occurs after an AGM, you can be rest assured that your strata fees will be different, and very well could be more.  Now, there is nothing you can do about it, and its not in your control.  Budget changes are inevitiable, its just that it will feel like a shock if the the strata fees change without you knowing.  This change in strata fee is derived from the increase or decrease oif your budget, so your strata fees can go either way, just be prepared that it could be more the moment you own your property.