Co-op or condo meetings: Are they mandatory in Argentina?

Co-op or condo meetings are used in Argentina to discuss about issues regarding the correct maintenance of a building. During these meetings, the owners of each unit can talk about their relationships with their neighbors, organize to fix some areas of the building, discuss administrative issues, or anything that needs to be discussed.

Co-op or condo meetings work like companies, and these meetings are like the shareholder’s meetings, and they can be ordinary or extraordinary.

The ordinary meetings are done at least once a year. During these ordinary meetings, property owners discuss the building’s expenses during the year, the annual balance, next year’s budget, etc. That is to say, during the ordinary meetings, the co-op unit owners get together to discuss administrative and accounting issues, once the fiscal year is over. The person in charge of calling the meeting is the administrative agency.
On the other hand, the extraordinary meetings take place whenever the administrator or a number of owners deem it necessary. According to each condo’s rules the minimum of owner needed to call a meeting will vary. During the extraordinary meetings different issues are discussed, like the approval of a budget to do some repairs, or something that could affect all owners.
The co-op or condo meetings, both ordinary and extraordinary, should be called in advance so that all owners can attend. When calling the meeting the issues to be discussed should be pointed out as well. It is recommended that all owners attend the meeting so they can vote and give their opinions on each matter.
To conclude, it is mandatory to have at least one co-op or condo meeting a year, in order to discuss the administrative and accounting matters of the building. The person in charge of the administration of the building should call this meeting, and all owners should attend, since the decisions made there could affect them.