It’s been an exciting 2016, we launched GetQuorum officially in March, joined the Legal Innovation Zone at Ryerson University and got to collaborate with amazing leaders in the condominium industry. We wanted to share with you the top five things we’ve learned over the past year.
The Standard Unit Bylaw is the most common Proposed Bylaw
Approximately 60% of the meetings we’ve served involved voting on a Standard Unit Bylaw. We’ve learned that an educational campaign and Q&A emails are effective at engaging owners in an active dialogue. (You can read our thoughts on Standard Unit Bylaws here.)
Owners like to wait until the last minute
Even though quorum is usually reached before an AGM even starts, we’ve noticed that the majority of proxies are still submitted in the last few days leading up to the AGM. I guess it’s the inner student within all of us that waits until the last minute to submit our assignment.
Your owners prefer short emails
Our most effective email campaigns are concise and include a call to action. With the influx of messages we all receive every day, it makes sense to keep things short and sweet.
60% of owners want their AGM package electronically (on average)
Electronic notices can save corporations a lot of money and paper. The largest AGM package we had to send out this year was over 130 pages long — our printer joked that they “struggled to put a staple through it.” You can imagine just how expensive it would be to print and mail out a package of this size to over 500 units.
Offsite owners still want to be involved in the management of their investment.
Depending on a condo’s demographics, online proxies from off-site owners make up anywhere from 30% to 60% of the total online proxies we collect.
These are only some of the things we’ve learned this year and we’re looking forward to see what 2017 brings. We’d love to hear what you’ve learned in 2016, contact us today at: email@example.com.