The AGM is an annual meeting of all apartment owners to discuss the budget for the forthcoming year, outstanding issues such as non-payers, voting in new committee members and so forth. All apartment owners are legally given 15 days notification, and if they cannot attend, they can appoint someone as power of attorney (by proxy) to vote and speak on their behalf. Each apartment gets one vote, regardless of how many people live in that apartment.

Meeting minutes are taken, notarized and made available for inspection by apartment owners at any time at our accountant’s office.

In our case we have many owners being of foreign nationality (which is often the case in complexes in the holiday resorts of the Aegean and Mediterranean coasts), a translator should attend, and the fee is taken out of the annual budget. Tenants do not have rights and cannot vote unless the apartment owner gives them power of attorney to do so.

According to our management plan the AGM should be held during the month of October. A minimum of 50 % of the owners need to be present, or represented by proxy, for the general assembly to be legally set. A second date should always be announced in case less than 50 % of the owners attend in person or by proxy. The second date is set one week after the original date for the AGM.