Parking Lease Agreement Template

How to Write a Parking Lease Agreement?

Follow these steps to draft a Parking Rental Agreement:

1. Identify two parties to the contract - the lessor (owner of the parking unit or landlord in control of the residential space) and the lessee (an individual or company that requires a parking spot near their residence or workplace).
2. Confirm the intention of the lessor to provide a specified parking space to the lessee. You need to indicate the location of the spot and mention other characteristics that will allow you and other concerned parties to distinguish this place from all others.
3. You may list the vehicles to be parked in the location indicated in the contract - describe their main characteristics. While it is a good idea for safety purposes, especially if the access to the parking lot is not restricted and the vehicle operator expects someone else to take their parking spot, it may not be necessary to specify the cars, if you often welcome family members and guests who will use the parking spot in accordance with the existing agreement.
4. Specify the rental amount and the rental schedule - typically, the lessee is expected to pay a set sum of money each month in advance on the first day of every month.
5. Set rights and responsibilities of both parties - for instance, the lessor may demand that the lessee keeps their vehicle clean in order not to leave any stains in the parking lot, while the lessee may ask the parking space owner to guarantee safety. Note that the purpose of the agreement must be clearly stated - the lessee may only store their vehicle in the parking space and not put other things in there or perform other activities whether commercial or not, including subletting.
6. Negotiate potential termination of the agreement - either party may notify the other about their decision to cancel the contract thirty days before the arrangement ends.
7. Sign and date the agreement. There is no need to notarize it; however, if you are planning to store a valuable vehicle in the parking lot for a long period of time or there is a substantial advance payment involved, you may present the document to a notary public to add extra protection to your deal.

Not what you were looking for? Check out these related topics:

• Warehouse Lease Agreement
• Office Space Lease Agreement;
• Billboard Lease Agreement.