Cracking can occur in rendering but it generally occurs soon after it is done (if it is going to happen at all) or as the result of minor movement in the house. The mistake most householders make is not to deal with it right away which lets water into the cracks, which can then allow the render to lift from what it is attached to underneath.
Have a look at a surface and assess its general condition - many renders that have been maintained with occasional coat of paint last for tens of years.
Peeling is a surface issue.
Repairing cracks is simple but virtually impossible to do without it being visible on smooth finish renders. That may be why some people prefer heavily stippled finishes.