The purpose of Rent Saver is to encourage households to save for a deposit, with QLCHT matching your savings (capped over five years) to help you save for a house deposit.
How it works
When you enter Rent Saver, there is an initial fixed term of five years during which a savings incentive is applied. Each year you will be asked to provide evidence of your savings and we will match it, up to the equivalent of $50 a week ($2,600 a year) for five years.
At the end of the five years (or sooner if you're ready), you can apply to purchase your home under the Secure Home programme and if successful (having met the Secure Home programme requirements), QLCHT will put the matched savings towards your purchase.
To be eligible for Rent Saver, you must first meet the general eligibility criteria. There is also an income threshold applied, calculated on the number of people in your household, and you can't have cash assets any greater than $10,000 (not including KiwiSaver).
Rent Saver Agreements
You can view our template Rent Saver Residential Tenancy Agreement and Rent Saver Agreement here. Please note that these are templates only and may be subject to change.