Annual General Meetings (AGMs) are a core part of residential block management, yet many leaseholders and residents often overlook their importance. Far from being a formality, AGMs are a key opportunity for residents and directors to stay informed, make decisions, and ensure that their building is being managed transparently and effectively.
Whether you’re a director of a Residents’ Management Company or a leaseholder in a block of flats, understanding the role of AGMs can help you make the most of these important meetings.
What Is an AGM?
An AGM is a yearly meeting typically held by management companies or resident-led associations (such as RMCs or RTMs) to review the past year’s management activity, discuss finances, and make decisions for the year ahead. It’s usually open to leaseholders and shareholders, depending on the structure of the building’s ownership.
Why AGMs Are Important
Transparency and Accountability
One of the main purposes of an AGM is to present and review the financial accounts for the previous year. This allows leaseholders to see how service charges have been spent, what costs were incurred, and what work has been done on the property.
This level of openness promotes trust between managing agents, directors, and residents.
Decision-Making
AGMs are also where formal decisions are made, such as:
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Approving the budget for the coming year
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Electing or re-electing directors
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Agreeing on major works or long-term maintenance plans
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Appointing contractors or external advisors
Votes are typically taken on key issues, and outcomes are recorded to ensure clear governance.
Resident Engagement
An AGM gives residents the opportunity to:
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Ask questions about how the building is managed
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Raise concerns or suggest improvements
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Receive updates on upcoming projects or legal matters
This helps residents feel more involved and informed, contributing to a stronger community.
Legal Compliance
In many cases, especially for limited companies managing residential blocks, holding an AGM is a legal requirement under company law or the lease. Failing to hold AGMs correctly can lead to disputes or complications with compliance.
Tips for a Successful AGM
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Plan Early – Ensure notices are sent out with sufficient notice, including the agenda and previous minutes.
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Keep It Clear – Financial reports and management summaries should be easy to understand for all attendees.
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Encourage Participation – Make space for open questions and discussions, not just formalities.
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Record Everything – Minutes should accurately reflect decisions and be shared afterwards.
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Follow Up – Actions agreed at the meeting should be tracked and reported on at the next meeting or via regular updates.
How Oakfield Can Help
Organising and running an AGM can feel like a daunting task — especially when balancing the legal requirements, resident expectations, and administrative duties. At Oakfield, we provide professional support to ensure AGMs are well-organised, clearly communicated, and productive.
Our block management team can assist with:
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Preparing and issuing formal notices and documentation
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Presenting clear and accessible reports at the meeting
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Facilitating discussion and recording decisions
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Actioning post-meeting outcomes promptly and effectively
Whether you’re looking to streamline your next AGM or need full management support for your building, we’re here to help.
Get in touch to learn more about how Oakfield can support your property’s management and resident engagement.