Everything you need to know about the general meeting, explained by professional property manager Syncura.

When you own an apartment, you automatically become part of a co-ownership. This means that certain decisions regarding the building are not made individually, but together with the other co-owners. The most important moment when this happens is the General Meeting (GM).

During this meeting, important topics are discussed, such as the co-ownership's budget, maintenance work on the building, the approval of the accounts, or the appointment of a property manager. In this article, property manager Syncura explains exactly what the GM is, how it proceeds, and why your participation as a co-owner is important for a good outcome.

The General Meeting as the governing body of the co-ownership

The General Meeting is the official gathering of all co-owners of a building. It is the most important governing body in which decisions are made regarding the management and future of the VME.

According to Belgian law, an ordinary GM must take place at least once a year. This is usually organized at a fixed location and during a fixed period specified in the internal regulations. In certain situations, an extraordinary meeting may also be organized, for example when urgent work is required or when important decisions cannot wait until the next annual general meeting.

The rules regarding the organization and operation of the General Meeting are laid down in the Belgian Civil Code (Book 3 – Title IV).

Preparation and notice of the meeting

The property manager is responsible for organizing the General Meeting. He sends out the invitation, draws up the agenda, and gathers the accounts and all documents necessary to discuss the various items.

Co-owners receive the notice at least fifteen calendar days before the date of the meeting. This includes a clear agenda listing all topics to be put to a vote. As a co-owner, you can also propose placing an item on the agenda yourself, for example regarding an appointment or a significant change, provided that this is done within the statutory time limits.

Attending or being represented at the vote

As a co-owner, you can participate in the General Meeting yourself, but you can also authorize someone else to represent you. This could be, for example, another co-owner or a trusted person.

Decisions are not made based on the number of persons present, but according to the number of shares each owner holds in the co-ownership. Therefore, it is important that sufficient shares are represented during the meeting.

A co-owner may hold a maximum of three proxies. An exception applies when the total of the represented shares, including the proxy holder's own shares, does not exceed 10% of the total shares of the co-ownership. Additionally, voting rights are limited to 50% when one person, alone or via proxies, represents more than 50% of the shares present or represented at the General Meeting.

• To vote validly, the meeting must meet certain quorum requirements: 50% + 1 of the co-owners must be present or represented, and they must represent at least 50% of the building's shares. If this quorum is not reached, the meeting may still take place validly if at least 75% of the building's total shares are present or represented.

How is a vote taken on an amendment or approval?

Each agenda item submitted for voting is adopted by a specific majority, in accordance with the provisions of the Belgian Civil Code.

• For ordinary management decisions, such as the approval of the accounts or the budget, a simple majority of votes is usually sufficient. This means that more than half of the co-owners present or represented must vote in favor of the proposal. A decision is also made at this stage regarding the discharge of the syndic and the auditor for the management conducted within the financial year.

• For major decisions, such as significant renovation works, a broader majority is required. In some cases, the law requires a two-thirds majority or even a four-fifths majority. In exceptional cases, for example regarding an amendment to the articles of association or an adjustment to the share distribution, unanimity may even be required.

However, if unanimity is legally required but cannot be achieved due to the absence of one or more co-owners, a new general meeting must be convened at least thirty days later. During this second meeting, the decision can be validly taken with the unanimous consent of the co-owners present or represented.

The role of the board and the property manager

The property manager plays a central role during the meeting. He prepares the session, leads the discussion of the agenda items, and ensures that legal rules are applied correctly. A good property manager ensures the efficient running of the evening and supports the board.

In addition, the property manager presents, among other things, the financial overview and the profit and loss figures of the co-ownership, any quotations for works, and other documents. In any case, after the meeting, he also ensures that all decisions taken are implemented. If necessary, a vote will be held on the dismissal of the current property manager.

What happens after the General Meeting: minutes and newsletter

After the General Meeting, the minutes are drawn up by the meeting bureau, consisting of the chairperson, the secretary, and the vote counters. This report contains all decisions that were taken, along with the voting results.

The minutes are delivered to all co-owners within one month of the General Meeting, often via a digital newsletter or by post. This ensures everyone stays informed, even if you were unable to attend yourself. The property manager is subsequently responsible for implementation, such as determining the new allocation of funds or initiating works.

Your rights, questions, and obligations as a co-owner during the year

As a co-owner, you have the right to participate in the General Meeting, ask questions, and vote on the proposed decisions. This is the moment to put the principle of transparency into practice. Exercising your voting rights is an essential part of your ownership.

At the same time, you also have a number of obligations. For instance, you must respect the formality of contributions to common costs and accept the decisions approved during the General Meeting. If you believe a decision is irregular, you can legally challenge it within a certain period.

Why the General Meeting holds great importance

The General Meeting is a crucial moment for the management of a co-ownership. Decisions are made here that have a direct impact on the maintenance, safety, and value of the building.

By actively participating in this meeting, you not only gain more insight into the management of your building, but you can also help determine the choices made for the future of the co-ownership.

In conclusion

The General Meeting forms the heart of the co-ownership. It ensures that decisions are made in a transparent manner. With good preparation and guidance from an experienced property manager like Syncura, a General Meeting usually proceeds much more efficiently.