Service guarantees - Terms and Conditions

No rent arrears, or we’ll pay! If:

1. The rental property was initially let by Property Brokers; and

2. The rental property has a 4-week bond lodged with the Bond Centre; then

3. The arrears guarantee ensures that each month, the owner will receive the monthly expected transfer based on the weekly rental rate if the tenant is in rental arrears.

4. The arrears guarantee is for rental payments only. This does not include arrears for utilities, remedial work or any other scheduled payment as outlined within the Tenancy Agreement.

5. During a tenancy, when Guaranteed Rent payments have been made by Property Brokers and rent is recouped from the tenants, this rent money will be refunded back to Property Brokers in the first instance.

6. Property Brokers must be able to conduct the rental arrears process using our normal rent arrears procedures; and

7. This Service Guarantee relates only to rent arrears and does not include compensation for property damage or loss in property value.

8. At the end of the tenancy and when Guaranteed Rent payments have been made by Property Brokers any monies paid by the tenant either by direct payment or a bond refund will be refunded back to Property Brokers in the first instance. A bond refund in any form will have the rent paid before any other property expenses.

9. Property Brokers reserve the right to utilise the services of a debt collection agency, and any amount collected will initially be paid to Property Brokers where, if applicable, Guaranteed Rent is refunded.

Great service, or we’ll pay! If:

1. If our services disappoint you, simply tell us, and if we cannot resolve the service issue, we will refund your last month’s management fee as follows:

2. The owner must advise us in writing that they have a problem; and

3. Property Brokers expects to be able to resolve the problem within 14 days; and

4. If Property Brokers does not resolve the problem within the 28 days: then

5. Property Brokers will refund the last month’s management fee.

Working days and continuity of service:

For the purpose of these Service Guarantees, a Working Day means any day other than

• a Saturday or Sunday
• Waitangi Day
• Anzac Day
• the Sovereign’s Birthday
• Te Rā Aro ki a Matariki / Matariki Observance Day
• Labour Day
• any day in the period commencing 24 December and expiring 3 January (inclusive).

While Property Brokers observes an annual two-week shutdown period over the Christmas and New Year holiday period, skeleton staff remain on hand to ensure essential property management functions continue, including rent processing, arrears management, and urgent tenancy matters. This ensures continuity of service and does not affect the operation or intent of the Rent and Service Guarantees.

Additional terms:

• The Rent Guarantees are included within both the exclusive and inclusive management packages from 1 November 2019 onwards.
• Clients on management authorities entered into before this date that did not include the Service Guarantees will continue under the original terms of their Management Authority.
• Rent Guarantees are offered only to clients who opt for full management of a residential property.
• Existing clients without Rent Guarantees may opt into the service by moving to a new management package.
• Rent Guarantees are available across Property Brokers branches.