The parking space rental agreement template is the document needed when anyone wants parking space from any other person or company. This agreement is also named as parking agreement, garage agreement or parking contract.

Participants:

In parking space lease agreement, there are two main parties.

  • Lessor: The company or individual who want space for parking.
  • Lessee: The person or company who has space or property and who is owned for renting the space is called Lessee.

Areas to cover:

In parking space rental agreement template, these areas are important to include:

  • Basic Information: It is important to add all basic information, including full name, address, and other important detail of parties.
  • Contact information: The contact information, including cell number and email should be added in agreement.
  • Parking space detail: Exact space which is selected for parking should also be added in the agreement with its condition.
  • Rent detail: Duration for parking rent should include in parking space lease agreement to avoid confusions. Moreover, rent amount, payment methods and exact due date should also be included.
  • Signatures: Signature of both parties with date should also be added in agreement. Due dates should also be mentioned. You should also check Rental Receipt Template.

Importance of Parking Space Rental Agreement

There is a lot of the importance of this agreement discussed below.

  1. It shows proper dealing between owner and lessor.
  2. It shows proper duration, space and time for rent.
  3. Both parties know the terms and conditions clearly.
  4. It helps to protect from conflict and confusions.
  5. It also provides security and peace of mind to both owner and lessor.

Uses of Parking Space Rental Agreement

This agreement is used in the following situations.

  1. This agreement is widely used in bigger cities where there is much traffic.
  2. This agreement in commercial areas where it is difficult to find a better place for parking spots.
  3. When someone needs a parking space near their working place where there is limited parking space.
  4. When someone needs a parking spot near residents place in a big crowded city.
  5. When a family having more than one car and having less space for parking all cars so they need additional space for parking.
  6. This agreement is required in small towns or small cities where there is an issue of parking cars, vehicles etc. for drivers

Terms and conditions

  • It is important to read parking space rental agreement carefully by both parties, before signature.
  • After signature, both parties should take a copy of the document.
  • If one party is a company instead of an individual, then the document should have signed twice by two directors or any two commanded persons by the company unless the company is run by only one person.
  • The place given for parking will not be used for any other purpose.
  • It is important to follow all rules and regulations properly.
  • The agreement of both parties for every condition is important.
  • Lessor take care of the parking space and pay rent properly in time. You may also like Truck Lease Agreement Template.

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Violations with solutions

There are many common violations related to parking space rental agreement happen every day. These violations are serious, so it is important to take steps for handling them properly. Here we discuss parking rental lease violations and learn how to resolve them. You may also see Car Accident Demand Letter.

  1. Unpaid rent: One of the most common violation which is faced by owner is unpaid rent. Due date is mentioned in the agreement so if anyone crosses that that, its include in violation.
    To resolve this problem, owner clearly mentioned the late payment free for late payment in your agreement. Good understanding between both parties is also a good remedy to resolve that issue if anyone clearly explain the reason and take time from the owner. But if the lessor fails to pay rent, you can send them notice and then force them out from your parking spot.
  2. Property damage: It is also a serious violation in parking spots. It’s an expensive loss of the owner. When a lessee allows someone to park their cars, etc., they should also document the condition of the space from any professional written form. You can also take photographs of your given space. In case of any damage, the owner can take the cost from the lessor.
  3. Unfair use: It is also including in violation to use the parking area for other purposes like to live with family or catch animals there. These things should be added in agreement clearly. The owner should visit the parking area properly for checking.

Conclusion

The parking space rental agreement template is the type of agreement which demonstrates dealing between leaser and lessee in a legal way. This show all dealing in a legal way and remove misconceptions. It is important to clearly mention all important things to protect yourself from any violation. Who wants space for parking.

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