Parking Space Lease Agreement

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Parking Space Rental Agreement is between a landlord that controls an area of space, designated for a vehicle, and allows a person to rent it in return for payment. Generally, there are limited State laws on this type of arrangement. The contract can either be set for a fixed term or on a month to month basis. The tenant shall only be able to store their vehicle (recreational vehicle, motorcycle, etc.) on the premises unless otherwise agreed to by the owner/manager.

Agreement Uses:

  • Needing a parking space near their residential unit in a crowded city with limited parking;
  • Someone who needs a parking spot in proximity to their work;
  • A couple with two cars that needs an additional parking space as they are living in a one-bedroom apartment that only allows one vehicle; or
  • For any other private parking space that

How to Use

An agreement for the sole purpose of renting a parking spot is much similar to renting a property but much simpler. The individual renting the space from the owner, known as the lessee, must agree to the terms of the lease (either fixed or monthly) and the rent amount which shall be due on a specific day of each month.

Much like a housing lease, the lessee may not sublease the parking space without the owner’s consent. The lessee is also responsible for the upkeep of the parking space and their vehicle including valid insurance and registration. No personal storage may be allowed in the premise of the parking space, the only object that shall contain the parking space is a vehicle or motorcycle in good repair.

How to Find a Monthly Parking Space

Use BestParking.com to find the monthly rates of and parking spaces in your area. The next best solution is to use Google Maps and contact the parking garages in your area.

When a Lessee Defaults

Most States have little to no laws regarding parking leases which makes it very easy to solve problems with regards to a tenant defaulting on a lease. If the lessee defaults, whether it’s due to unpaid rent or not keeping their vehicle in good repair, they can arguably be seen as trespassing on private property. That being said, all it takes is one simple call to a towing company and the lessee’s vehicle can be removed. However, it’s a good idea to warn the tenant prior to the removal of their vehicle by placing a note on their windshield detailing the offense and outcome if the default goes unfixed.

(Video) What is a Parking Space Rental Agreement?

How to Write a Parking Space Rental Agreement

Download: Adobe PDF, Microsoft Word (.docx), Open Document Text (.odt)

Section I. The Parties

(1) Parking Agreement Date. The formal date of this agreement is required in the introduction. This can be different from the effective date of signature but it is recommended that both are the same.

(2) Lessor Name. The full name of the Entity that owns the property where the parking space is found should be reported.

(3) Lessor Address. Continue identifying the Lessor by recording this Entity’s mailing address.

(4) Lessee Name. The full name of the Lessee is needed as well. This is the Party who intends to honor the conditions set by the Lessor to rent the parking space. The Lessee, in most cases, is the Owner of the Vehicle being parked but this can also be a Third-Party who will assume the responsibilities (including payment) set in this agreement.

(5) Lessee Mailing Address.

(6) Parking Space. The address required to find and physically park the Lessee’s vehicle is mandatory for this agreement to be valid.

Section II. Term

(7) Agreement Commencement. The time period when the agreement between Lessor and Lessee should be considered active or in effect requires documentation. First, dispense the first calendar date when the parking space is available to the Lessee’s use as a result of his or her successful rent payment and this agreement.

(8) Natural Termination. There are two ways this parking agreement may terminate naturally. If Lessor and Lessee have agreed this agreement should terminate upon a certain date, then the first checkbox statement must be selected and the end date recorded. Otherwise, if this agreement is a monthly arrangement that may be terminated with a number of days’ advance notice by either party then choose the second statement and produce this number of days.

Section III. Rent

(9) Parking Rent Due Date. The calendar day of the month that the Lessor expects payment for the parking space being leased should be established in this agreement after both Parties agree to this value.

(10) Parking Rent Amount. Produce the exact dollar amount the monthly parking space payment must consist of.

(11) Accepted Method(s) Of Payment.

Section VIII. Governing Law

(12) Applicable State Laws. Generally, the state where the parking space is located will govern this lease through its laws and its courts. Name the state where this agreement is governed and enforced through this document.

Signature Execution

(13) Signature Date. The exact date when this document is signed by both Parties is considered its effective date. This is when the Lessor and Lessee shall supply the proof of signature that each one will comply and benefit from the agreement above.

(14) Parking Lessor Signature. The Lessor behind this agreement must sign and print his or her name to enter it.

(15) Lessee Signature. The Lessee must sign this document and present his or her printed name to verify that he or she will comply with its provisions in exchange for access to the concerned parking space(s).