An independent Sydney real estate firm has introduced a flat-fee pricing model for property management, saying it takes as much time to manage a one-bedroom apartment rented for $500 a week as it does a two-bedroom apartment rented for $1500 a week. 

Operated through Laming Property in Potts Point, the Once property management model charges owners an annual flat management fee of $1100 incl GST regardless of the size of their property. The traditional model of property management calculates a monthly fee based on a percentage of rental income, usually between 5.5 and 8.8 percent.

"The current model is outdated and I intend on saving property investors thousands, if not tens of thousands, over the life of their investment," said Lynette Laming, director of Laming Property and Once property management. "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 Laming. 

Laming has been in the real estate business for 30 years, and wants to perfect the Once model locally with properties across Sydney’s eastern suburbs,  lower north shore and inner west before expanding digitally across the country.

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