Fed up with the extortionate prices being charged by property managers, Once, recently announced it will be the first in Sydney to offer investors a flat-fee pricing model for property management.
“The current model is out-dated and I intend on saving property investors thousands, if not tens of thousands, over the life of their investment,” said Lynette Laming (pictured), of Once, whose 30 years in the industry has brought her to this exciting juncture.
“Once will charge property owners the same annual flat-fee of $1100 incl GST to manage their property, no matter what the size, unlike the traditional and inequitable model which calculates a monthly management fee, based on a percentage of rental income (approx. 5.5-8.8 per cent).”
Once upon a time, the time was ripe
The launch couldn’t have come at a better time, with the recent announcement that the major banks will lift their variable rate for residential investment property loans.
“With the banks now set to increase interest rates for property investors, the last thing they need is to pay exorbitant fees to have their property managed,” said Lynette.
“A 1 bedroom apartment that rents out at $500 a week is just as time consuming to manage as a 2 bedroom apartment that rakes in $1500 a week. With Once, they would both pay a flat management fee of $1100 incl GST. Enough is enough, the cash cow has left the barn,” she explained.
Operated through Laming Property, Once guarantees the same reliable and thorough service property investors have been enjoying from Laming Property for years.
Laming will perfect the Once model locally, servicing properties across Sydney’s Eastern Suburbs, Lower Northern Suburbs and Inner West.
Simultaneously, capital-raising will allow Laming to evolve the digital platform and expand to Greater Sydney and interstate, with the aim to be a nationwide service by 2017.
