Almost all housing companies will have a general meeting at some point in the spring. All too often, attendance at company meetings is far too low. Although in a way it is to some extent a bun, ignoring it is relatively stupid. Because a general meeting has a quorum when it has been duly convened and at least one shareholder is present. One. However, the Annual General Meeting deals with quite important matters, such as
- financial statements
- activity report
- auditor’s report
- activity audit report
In addition, reports on maintenance needs and plans for the next five years and on maintenance and alteration work carried out in the last financial year must be submitted.
At the Annual General Meeting, decisions are taken on matters that are legally incumbent on it, such as.
- adopt the financial statements
- decide on the discharge to be granted to the Board of Directors
- elect the board of directors
- decide on the amount of the contributions
Quite important things. So important that you would think every shareholder would be interested in them.
So what can we expect from this spring’s AGMs? Not necessarily the most exhilarating things.
Everyone has noticed that the cost of living has risen quite rapidly in recent times. Housing companies are not immune to this development, as can be seen, for example, from the development of the cost index of real estate management for apartment buildings produced by Statistics Finland:
It is very difficult to see how such a development would not put clear upward pressure on the cost of care. If the company has a loan, you should also be prepared for an increase in the cost of servicing it.
So what does all this mean for the home buyer? In addition to being aware of the prevailing circumstances, it is also a good idea to ask the seller or estate agent for the minutes of a recent AGM, in addition to the normal documents for the previous financial year. This is not typically provided with the documentation, but in the current situation it is well justified to ask for it. Because that’s when you get the latest information on which direction.