There is an annual general meeting where agenda items are discussed and voted on for that year. This includes appointing a slate of Directors to serve on the Commonhold Association. These lay directors will work with the managing agent to act on the adopted AGM minuted items, approving budgets, building improvements, appointing or changing a managing agent.
The resident-controlled Commonhold Association appoints a professional managing agent who organises the repairs and maintenance for the common areas.
It is good practice to prepare a long-term maintenance plan (5 to 10 years) detailing the yearly costs, that are transparent and feed into the building reserve fund.
The Commonhold owners can also self manage and organise their repairs and maintenance, although for bigger schemes, it is normal to have a professional managing agent.
Each commonhold has a standardised Commonhold Community Statement (CCS), which is the rulebook of rights and duties for community living. The CCS can be adapted to include your local rules for your block to keep up with change and these are voted in at an AGM.
If there is dispute between unit owners or the Commonhold Association, parties must follow the commonhold dispute resolution (as laid out in the CCS). This is highly effective as it encourages early communication and dispute resolution. Commonhold systems typically focus on mediation and eschew litigation.