Running Your First Strata AGM Under the New NSW Rules

Your First Strata AGM: A Practical Guide Under the New NSW Compliance Rules

For developers, strata managers and newly formed strata committees, the first Annual General Meeting (AGM) of a strata scheme is a pivotal milestone. It marks the transition from developer control to owner governance and sets the operational framework for the building moving forward.

Recent reforms to NSW strata legislation have introduced stronger compliance obligations, clearer documentation requirements, and stricter timelines. For those managing or establishing a new scheme, understanding these rules is essential to avoid penalties and ensure a smooth transition.

This guide outlines the key requirements for running a compliant first AGM and how managed voting platforms such as Vero Voting can make the process significantly easier.

When Must the First AGM Be Held?

Under NSW strata legislation, the original owner (usually the developer) must convene the first AGM within two months after the end of the initial period.

The initial period ends once the developer sells more than one-third of the unit entitlements in the scheme. Once this threshold is reached, the clock begins ticking for the developer to organise the first meeting of the owners corporation.

Failure to hold the AGM within the required timeframe can expose the developer to financial penalties, making early planning essential.

Documents That Must Be Provided 14 Days Before the AGM

Before the first AGM takes place, the developer must provide the owners corporation with key documents about the building and its operation.

These documents must be supplied at least 14 days before the meeting to allow owners to review the information and prepare for decisions about budgets, maintenance and governance.

The documentation generally includes:

Providing these documents helps ensure transparency and allows the owners corporation to begin operating with full knowledge of the building’s structure and systems.

The Initial Maintenance Schedule (IMS)

One of the most important documents presented at the first AGM is the Initial Maintenance Schedule (IMS).

The IMS outlines the expected maintenance requirements for the building’s major components. These may include:

Under recent reforms, the IMS must be prepared using a prescribed standard form, improving clarity and consistency for owners corporations across NSW.

The schedule helps the new strata committee understand the building’s maintenance needs and supports more accurate budgeting for both short-term upkeep and long-term capital works.

Independent Surveyor Certification for Multi-Storey Schemes

For multi-storey strata schemes, additional compliance requirements apply to ensure maintenance and levy forecasts are realistic.

Developers must engage an independent quantity surveyor to review and certify:

The certification provides an independent professional assessment of whether the maintenance schedule and proposed levies are adequate for the building’s needs.

This certification must be provided to the owners corporation at least 14 days before the first AGM.

The certification provides an independent professional assessment of whether the maintenance schedule and proposed levies are adequate for the building’s needs.

This certification must be provided to the owners corporation at least 14 days before the first AGM.

Penalty Risks for Non-Compliance

Strata reforms have strengthened enforcement mechanisms to ensure developers meet their obligations during the establishment of a scheme.

Developers may face significant fines if they fail to:

These penalties are intended to ensure that owners corporations begin operating with the correct information and governance structures in place.

How Vero Voting Helps Run Stress-Free First AGMs

For new strata schemes, coordinating the first AGM often involves developers, strata managers and a large group of first-time owners.

Managing notices, proxies, votes and compliance requirements can quickly become complex.

Vero Voting provides a managed service designed specifically to simplify the AGM process.

Key benefits include:

Secure online voting
Owners can vote electronically before or during the meeting, improving participation rates.

Compliance-friendly meeting setup
Meeting notices, voting forms and deadlines can be configured to align with NSW strata requirements.

Proxy management
The system tracks proxy limits and ensures votes are correctly allocated.

Clear audit trails
Voting records and reports provide transparency and reliable documentation for the owners corporation.

Reduced administrative stress
Strata managers and committees can focus on running the meeting rather than managing paperwork and vote counting.

Planning to onboard a new scheme? Contact us to ensure your first AGM runs smoothly with a compliant, fully managed voting platform.