Quinovic property management says one of its franchisees has been "censured in the strongest possible way" for controversial adverts that it posted online.
Quinovic's Te Ao franchisee posted three ads on Facebook, one of them asking landlords, "Are you subsidising your tenant's social life?"
The company's head office ordered the adverts to be deleted after they drew criticism.
Activist group Renter's United, which has 1500 followers, shared screenshots of the adverts on its Facebook page.
"At first I thought they were a joke. They are unusually honest about what property management companies often promise to do which is maximise investment for the landlord," Renters United spokesperson Kate Day told Newshub.
Ms Day said the advert about the tenants' social lives was "particularly brazen" and "implies if your tenant has a social life you should be charging them more".
Prime Minister Jacinda Ardern said she hadn't seen the adverts, but "anyone who is renting particularly in the Auckland market would find that pretty laughable."
Quinovic chief operating officer Paul Chapman distanced the company from the franchisee.
"The Facebook campaign was a local office initiative. It was not a national initiative. The Facebook campaign was not endorsed by Quinovic Group Office nor does it conform to our brand standards," he said in a statement.
"Quinovic Group office do not support the imagery and messaging in the ads and we have censured the franchisee in the strongest possible way."
Mr Chapman said the company recognises tenants as the customers of its clients.
"We recognise the need to look after the tenant because the happier the tenant, the longer they will stay and the more they will look after the property."
In a statement Quinovic Te Aro said it wanted to apologise "wholeheartedly".
"The message was not at all intended to be offensive towards tenants. Quinovic Te Aro highly values its tenants and once again we offer our sincere apologies for any offence this may have caused."
Ms Day said the attitudes displayed in the adverts link to a wider problem of a lack of regulation in the property sector, and the group is calling for the Government to "fix the broken renting system".
"Everyone has the right to have a home, our right to that shouldn't be undermined by profiteering off the shortage of the housing supply."
Renter's United plans to hold a protest outside Quinovic's Lambton Quay office on Monday evening.
"We're just going to get some tenants together to have a toast to the capitalist spirit of the property management sector that is shown in these advertisements," Ms Day said.
She says they'll be toasting using Budget raspberry cola.