Why Lock-In Real Estate Contracts Are Outdated—and What Every Landlord Should Know

Alicia McCulloch
Jun 13
3 min read

Updated: Jul 26

If you’re a landlord or rental property owner in Perth, Bunbury, or anywhere in between, chances are you've come across a property management agreement with a 12-month lock-in period—or worse. These outdated contracts are still being used by some real estate agencies to tie clients into long-term relationships, regardless of the service they deliver.

At Thryve Property, we’re doing things differently. We offer no lock-in property management contracts—because we believe great service shouldn’t need a clause to keep you around.

The Hidden Trap: 2+ Year Lock-In Contracts

What many landlords don’t realise is that most big-brand real estate agencies are still using 2-year (or longer) lock-in contracts for property management. These long-term agreements are marketed as “standard practice”—but that doesn’t mean they’re in your best interest.

Here’s the problem:

Your property manager might leave halfway through the year (or sooner)
The level of service often drops once you're signed in
You have no easy way out if the agency underdelivers
You're often hit with termination fees just to switch providers

In short, you’re left stuck—paying for poor service while your investment suffers.

At Thryve Property, we don’t believe in that kind of pressure. We believe if we’re doing our job right, you’ll want to stay. Not feel obligated to.

Why You Should Never Sign a Long-Term Property Management Contract

In today’s real estate landscape, flexibility, transparency, and trust are everything. Yet every week, we speak to landlords who are frustrated with:

Poor communication from their current property manager
Constant staff turnover and lack of continuity
Unresolved maintenance issues or tenant complaints
A sense of being ignored once the contract is signed

Then comes the final straw: they realise they’re locked into a contract and must pay a termination fee just to switch agencies.

This approach benefits the agency—not you.

The Risks of Lock-In Agreements

Here’s why long-term property management contracts are risky:

You lose control over your investment
You’re locked into poor service
You may be forced to pay early termination fees
Switching agencies becomes complicated—even when it's clearly the best move

If you're asking, “How can I change property managers in WA without paying a fee?” — you're not alone. It's one of the most common questions we receive.

At Thryve Property: No Lock-In Contracts. Ever.

We offer zero lock-in property management agreements. That means:

No fixed-term contracts
No minimum management periods
No exit penalties

You’re free to leave at any time—though we’re confident you’ll want to stay.

We believe in earning your trust month by month, through consistent communication, proactive management, and genuine client care.

We manage residential rental properties across Perth, Mandurah, Bunbury, and all the suburbs in between—including Rockingham, Baldivis, Secret Harbour, Meadow Springs, Lakelands, and Australind—with a hands-on, personalised approach that larger agencies just can't match.

Why More Landlords Are Switching to Thryve Property

We’re seeing an increase in clients reaching out because they’re:

Stuck in a poor-performing property management contract
Paying high fees with minimal communication
Feeling like just another number in a large rent roll

In many cases, these clients are paying to exit a contract just to get away from a bad agency—and that shouldn’t happen.

How to Protect Yourself When Choosing a Property Manager

Before you sign with any agency, ask these key questions:

Is there a lock-in period or minimum contract term?
Are there any early termination fees?
How easy is it to change property managers if I'm not happy?
Will I get a dedicated property manager—or be passed around?

If the answers aren’t clear or make you uncomfortable, trust your gut.

Ready to Take Back Control of Your Investment?

At Thryve Property, we’re committed to modern, flexible, and client-first property management.

Whether you're managing your first investment or an entire portfolio, you deserve a property manager who’s easy to reach, acts quickly, and values your business enough to let you leave if they’re not delivering.

📞 Alicia – 0488 779 146📧 alicia@thryveproperty.com.au🌐 www.thryveproperty.com .au#ThryveProperty | Powered by passion. Backed by experience.