Crockers’ Rent Debt Guarantee is an optional add-on for eligible Auckland landlords that pays up to $6,000 over and above the tenant’s bond, once there is a Tenancy Tribunal order confirming what the landlord is legally entitled to receive.
In our work managing Auckland rentals, we see tenancy debt is rarely planned by the tenant. It is more often triggered by a sudden change, job loss, separation, or illness. That’s why we’ve built a simple, clearly defined guarantee that supports landlords when the bond and normal recovery processes do not cover the full shortfall.
Tribunal order first, bond applied, then we pay up to $6,000 over the bond.
What our Rent Debt Guarantee is and what it is not
Our Rent Debt Guarantee is designed to remove the financial shock that can follow an arrears event. It is:
- A defined level of cover over the bond, capped at $6,000.
- Paid once the Tenancy Tribunal has issued an order, which confirms the landlord’s legal entitlement.
- Focused on the end debt outcome, not topping up rent week to week.
It is not the same thing as a “rent guarantee” product that only maintains cashflow during the tenancy. Those products can help with short-term income, but they may still leave landlords exposed to a final debt shortfall once the tenancy ends.
Who is eligible in Auckland
Our Rent Debt Guarantee is only available for properties where we have screened and placed the tenant. This matters because the guarantee is tied to the way we manage risk from the start, including tenant selection, documentation, arrears action, and the evidence required for a Tenancy Tribunal process.
What it costs and what it covers
Pricing
The guarantee costs $4.90 per week ($254.80 per year). There’s no fixed contract, you can opt in or out at any time.
The cover amount
It provides up to $6,000 extra cover on top of the bond. In New Zealand, the maximum general bond is 4 weeks’ rent. In Auckland, where weekly rents can be higher, it does not take long for arrears and other costs to exceed what the bond can cover.
What costs are covered
Our Rent and Debt Guarantee covers more than unpaid rent. It can also cover Tribunal-awarded costs like property damage, cleaning, lock changes, rubbish removal, and unpaid utilities, up to $6,000 over the bond.
When cover starts and ends
The guarantee covers the property for the term of the tenancy, for eligible tenancies where we placed the tenant. Payment is made after the Tenancy Tribunal order is issued, because the order sets out what the landlord is legally entitled to recover.
How the payout works in real numbers
The easiest way to understand the guarantee is to look at bond plus the “over bond” cover.
Worked example
If the rent is $750 per week, the maximum general bond (4 weeks) is $3,000. Our guarantee provides up to $6,000 over the bond. That means where a Tenancy Tribunal order awards amounts above the bond, the landlord can have access to up to $9,000 total towards Tribunal-awarded debt (bond first, then up to $6,000 more).
Our step by step process from arrears to payout
We specialise in property management, it’s the only thing we do. The guarantee is built to work alongside a proactive arrears system, so the process is clear for owners and predictable in timing.
Step 1, Early contact starts immediately
When rent is missed, our team begins contact early to resolve it quickly. Our internal approach is:
- Day 1 and Day 2: call, email, and text the tenant
- Day 3: issue a 14 day notice to remedy (if not brought up to date)
- Day 5: apply to the Tenancy Tribunal (where appropriate)
Step 2, Evidence is prepared for a Tribunal application
If the arrears are not remedied, the next step is building the documentation required to support the application and the amounts being claimed.
Step 3, The Tenancy Tribunal issues an order
The Tenancy Tribunal can make orders for rent arrears and other tenancy-related costs. The guarantee responds after the order, because it confirms the landlord’s legal entitlement.
Step 4, Bond is applied first
The bond is typically the first pool of money applied to any Tribunal-awarded amounts.
Step 5, We pay up to $6,000 over the bond
Once the Tenancy Tribunal order is received and the bond has been applied, we pay the landlord up to $6,000 over the bond, subject to the cap and eligibility rules.
Step 6, We pursue recovery from the tenant
After paying the landlord, we continue the recovery process with the tenant. If a Tribunal order exceeds $6,000, we pursue the outstanding amount on the owner’s behalf.
What this means for landlords and property investors
For Auckland landlords and investors, the value is certainty.
When a property manager calls to say a tenant has fallen into arrears, most owners don’t just worry about the missed rent. They worry about the unknowns:
- How far will the arrears go?
- Will I lose money, even if we do everything right?
- Do I need to cover the mortgage from my own pocket?
This is where the guarantee often changes the experience. It does not mean funds are never delayed, because the Tenancy Tribunal process still needs to run. But it does mean owners can plan with more confidence, including having a calmer conversation with their bank if short-term mortgage relief is needed, knowing there is defined protection once the legal entitlement is confirmed.
It also protects the investment outcome. One tenancy debt event can wipe out months of rental yield, particularly when arrears are paired with vacancy and re-letting costs. This ties directly into the topics landlords and investors track over time, including rental yield, vacancy rates, property management fees, and long term maintenance planning.
Request a free rental appraisal in Auckland or learn more about our Property management services.
What we typically see in practice
Tenancy debt is often caused by sudden life change
Many arrears cases begin with a tenant who has been consistent for years. A job loss, separation, or illness can push a household into arrears within one or two pay cycles.
The bond does not cover the full picture
Because the maximum general bond is capped at 4 weeks’ rent, it may not stretch far once rent arrears and other costs stack up.
Tenancy debt is rarely only rent In real outcomes, Tribunal-awarded amounts often include a bundle of costs.
That is why our guarantee is designed to cover more than unpaid rent, up to the cap.
The biggest stress point is uncertainty
Owners can move from “How bad will this get?” to “We have a clear process, and defined protection once the Tenancy Tribunal order is made.”
Tenancy Services New Zealand provides official guidance on types of bonds and how the bond process works, as well as practical information on rent arrears and what landlords should do when rent becomes overdue under current tenancy law.
Conclusion
Our Rent Debt Guarantee is designed to be straightforward for Auckland landlords. It costs $4.90 per week, it is available where we placed the tenant, and it pays up to $6,000 over the bond after a Tenancy Tribunal order confirms what the landlord is legally entitled to receive.
If you want your investment to stay an investment, not a property you have to keep topping up, it helps to build in protection for the scenarios tenants cannot always control.
Book a free rental appraisal to see how your property stacks up in today’s Auckland market, or talk to a property manager about whether a rent debt guarantee fits your risk profile.
