Markup, counter-markup, agreed amendments. The actual back-and-forth on the document.
What happens at this step
The two lawyers exchange markups until both parties are aligned. Tenant amendments are accepted, modified, or rejected. Landlord counter-amendments are responded to. This usually takes two to three rounds across one to two weeks for a typical lease, longer for complex or high-value leases.
What NZ Legal does
We negotiate every round. We tell you what each clause is worth in real-money terms (for example, a CPI-only rent review pattern versus a CPI-or-market pattern can be worth tens of thousands over a long term). We recommend when to push and when to accept.
What you do
Stay reachable. Decisions during negotiation often need to be made within hours. Confirm where you are willing to compromise. Keep the agent and any other party (broker, accountant) in the loop where relevant.
Common pitfalls
- Treating each round as a fresh negotiation. Earlier rounds set the baseline.
- Letting the negotiation drag because nobody is making decisions. Time costs money for both sides.
- Forgetting to lock in business-specific items (custom fitout, exclusivity, specific signage).
