Understanding your share value
A share value of a property determines the voting rights assigned to each unit in the same estate and it represents the following:
- The amount of contribution that you pay to the Management Corporation for running and maintaining the common areas of the estate.
- The higher your share value, the more voting rights you have.
Your rights:
Right to attend a meeting
As a unit owner, you have a right to participate in the decision-making process during general meetings. Even if you are not a council member, you may still raise issues during meetings with the permission of the council beforehand.
Right to ask for a motion to be included on the agenda of a general meeting
Through a written notice to the secretary of the council, you have a right to ask for a motion to be included on the agenda for the next general meeting.
Right to appoint a proxy and a proxy’s rights
In the event that you are unable to attend a general meeting, you may appoint a person to act as a proxy by providing them with written permission using the proxy form.
This form, with a power of attorney, must be sent to the registered address of the Management Corporation (MC) at least 48 hours before the time of the next general meeting.
