[Timothy Myres]

The Covid-19 pandemic has forced many Condominium Corporations to adjust how they conduct governance procedures, including their Annual General and Owner Meetings. Over the past year, we have seen many corporations transition from in-person to virtual meetings.

Word about the benefits of conducting these meetings virtually has since quickly spread, with many Property Managers and Board Members now viewing virtual Annual General Meetings (AGM) as a viable, effective, efficient, and arguably better experience than traditional in-person AGMs. However, some Property Managers and Board Members who have not used GetQuorum to conduct a virtual AGM often ask if they’d be able to host their corporation’s virtual AGM on their own, in the hope of reducing the cost associated with conducting the meeting.

This is completely understandable, as responsible boards will always seek to minimize costs to their corporation, so naturally, when considering a new service, like virtual AGM hosting, they will closely review the service and compare alternatives to determine whether it’s the right fit for their corporation.

While small corporations are able to execute a successfully virtual AGM independently, larger corporations have more complex and sophisticated meeting procedures that can’t be executed by simply inviting their owners to attend a virtual meeting hosted using a web-conferencing platform like Zoom, Google Meet, Webex, or GoToMeeting. Yet, many boards cannot fully understand why using their own webinar software may be an insufficient solution for their upcoming AGM.

Many Property Managers and Board Members also underestimate the potential drawbacks and challenges of independently hosting their corporations meeting virtually.

So what are some of the drawbacks and challenges you should consider before planning to conduct a virtual AGM independently?

[Author]

Posts