Nowadays, before owning a car or any sort of vehicle, one must consider looking for a residential space where a parking lot will be available to safely park the owned car. By having a ready parking lot, a car owner will have an assurance that his property will not be played or be vandalized and even be stolen by those who have criminal interests to his car. However, searching for a house or a residential property with an allotted parking slot is not an easy piece of cake since there are some properties which do not have enough spaces in their lots as well as garages. This is why there are agencies, companies, and business enterprises who open their vacant lot areas for those who will need parking spaces, but with a price to pay resulting in a parking space rental. For this intent, a parking space rental agreement form must be constructed and negotiated by the car owner and the property owner.

Parking Space Rental Agreement Form Sample

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What Is a Parking Space Rental Agreement Form?

A parking space rental agreement form is a document which is used for listing down the terms and conditions of a parking lot property owner and a tenant who will be using the parking space for a certain rental period. In this agreement form, the tenant will be able to know what the property owner expects from him including the rental payment for the parking space, the expected date of when he must provide the payments, as well as the rules and regulations which should be observed by him when he uses the parking space.

Types of Parking Space Rental Agreement Forms

The types of parking space rental agreement forms below differ on the type of lot areas and the amenities or inclusions, that the property owner offers to his tenant who will be using his parking space:

Parking Garage Rental Agreement Form – For individuals who have more than parking lots to offer to a prospective tenant such as a developed garage, a parking garage rental agreement form is the right type of document to use. This form is also ready to be filled out directly after it is downloaded since it has functions that permit the user to click each blank underline to fill it in with data and information. In the form, the identities of the lessor and the lessee will first be stated along with the location of the parking space. The succeeding sections focus on detailing the rental amount, the terms and conditions, and the agreement termination clauses. And just like other agreement and contract forms, a signature block is placed as the last portion of the form to gather the date of when the form was fulfilled and the signatures of the lessor and the lessee.

Parking Garage Rental Agreement Form

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Parking Spot Rental Agreement Form – This type of agreement form is suitable to be used by property owners who will lease out their parking spots to a tenant. The form highlights three items; the rent information, the length of the lease, and the terms mandated by the property owner for the parking tenants. Compared to the aforementioned form, this agreement is preferable to be used for plain parking slots and not those which are located inside a garage which means that the vehicle of the tenant will not have a shelter unless negotiated and approved by the property owner.

Parking Spot Rental Agreement Form

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Surface Parking Lot Lease Contract Agreement Form – Some properties have more than one parking areas, such as condominium properties, apartments, and even business company establishments wherein there are surface, underground, and floor-level parking lots. With this, if a tenant will prefer to rent a parking space in the surface parking area of an establishment then he must be presented with a surface parking lot lease contract agreement form. This form is accompanied by another type of document which is known as an exhibit that contains a diagram or an illustration of the whole parking area and an indication of where the allotted parking space for the renter or the tenant will be.

Surface Parking Lot Lease Contract Agreement Form

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Essential Terms and Conditions to Include in a Parking Space Agreement Form

  • The term of the lease – This refers to the start and date of the agreement or the lease which were negotiated and finalized by both the tenant and the property owner. By identifying the term or the period of the lease, the owner will be able to know when he must begin opening the lease to another probable tenant unless the current tenant wanted to remain in the lease for another term or for another period.
  • Loss and damage – It is important to include statements regarding the responsibility of the vehicle owner for the items and the damages that his vehicle may have during his use in the property or parking space in order to both protect the property owner and mandate accountability to the tenant.
  • Breach of contract – A breach of contract refers an incident caused by one of the involved parties during the period of the contract agreement which is not favorable or does not meet the standards and the requirements in the agreement. The types of actions that can result in a breach must be listed and explained well in the agreement for both parties to acknowledge it.
  • Insurance requirement – if a property owner aims to protect, not only himself but also the tenant, then he must ask and require his tenant to have insurance coverage for his vehicle. On the other hand, if there is an included insurance upon signing the agreement, then the details must be stated in the form as well.

Steps In Creating a Parking Space Agreement Form

Although most parking space rental terms are included in residential rental agreements, making a separate document for the full discussion of the terms and conditions is more beneficial. To begin creating this form, the steps below must be followed:

Step 1: Make a header. This is where the title of the form which is “Parking Space Rental Agreement” along with an area for indicating the date of when the form is to be used.

Step 2: Add a section for the details of the property owner and the tenant. This should be able to state the name of the owner with his phone number and residential address. On the side of the owner’s general information should be the tenant’s, which must have the tenant’s name, address, and phone number as well.

Step 3: State parking space information. This includes the exact location of the parking space and the vehicle registration information of the tenant.

Step 4: Create an introduction statement. An introduction statement about the lease and the intents of both parties involved should be made to start the terms of the agreement. This statement should indicate the intent of the owner to have his property or his parking space be rented out to the tenant, while the tenant intends to be the client who will rent the space. In addition, the location of the term or the rental period for the rental should also be stated and defined whether it is for a fixed term or not along with the start and termination date of the rental.

Step 5: Disclose the rental amount. This section of the form is one of the most important sections since it is where the details of the rental payment will be enlisted. The amount to be paid for the reservation of the parking space and the deposit to be required by the property owner are some of the information to be stated in this section of the form as well as the statement when the owner will provide an agreement receipt form to the tenant upon sending the rental payment amount.

Step 6: Assign obligations and responsibilities. This is where the tenant and the property owner will be able to know what their individual obligations and responsibilities are throughout the rental period. Some of the responsibilities to be discussed are those in relation to the possible damages, which will be evident during the tenant’s rental period in the parking space. Additionally, the permitted parking time and the number of hours that the tenant will be allowed to park his car in the rented parking space will also be included.

Step 7: Indicate a signature area. Allotted signature blocks for both the tenant and the property owner will be the focus of this section of the form. Areas for indicating the date of when the agreement form is filled out completely and signed by the parties involved should also be placed in order to properly document the negotiation and the finalized agreement for the parking space rental.

After the signing of the agreement, both parties must have a copy of it which is why it is important to have the document duplicated immediately along with all the other legal forms and documents connected to the lease or the properties involved. This is to make sure that both parties will be able to review the agreement whenever they wanted to and if there are any clarifications about the agreement.

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