When it comes to leasing a parking space, having a proper lease agreement in place is crucial to ensure both parties are aware of their responsibilities. A well-drafted lease agreement can prevent misunderstandings and disputes in the future.
To help you get started, we’ve put together a sample lease agreement for parking space that you can use as a template.
Sample Lease Agreement for Parking Space
This Parking Space Lease Agreement (“Agreement”) is entered into on [Date] by and between [Landlord Name] (“Landlord”) and [Tenant Name] (“Tenant”). Landlord is the owner of the property located at [Address], and Tenant desires to lease a parking space within that property.
This lease shall be in effect from [Start Date] to [End Date]. This lease may be extended upon mutual written agreement of both parties.
2. Parking Space
Landlord agrees to lease the parking space located at [Location] (“Parking Space”) to Tenant. Tenant shall be the only party permitted to park in the Parking Space.
Tenant shall pay [Amount] per month for the use of the Parking Space. Rent shall be due on the [Due Date] of each month.
Tenant shall make payment to Landlord by [Payment Method]. Tenant shall address the payment to [Landlord Name] at the following address: [Address].
5. Late Payment
If Tenant fails to pay rent by the due date, Tenant shall pay a late fee of [Fee] per day until the rent is paid in full.
Either party may terminate this Agreement upon [Notice Period] written notice to the other party.
The Parking Space shall be used solely for the parking of a single passenger vehicle, and Tenant shall not use the Parking Space for any other purposes. Tenant shall not use the Parking Space for the storage of any hazardous or dangerous materials.
Tenant assumes all risk and liability for any damage to the vehicle parked in the Parking Space and shall hold Landlord harmless from any claims arising from such damage.
If Tenant fails to comply with any provision of this Agreement, Landlord may terminate this Agreement upon [Notice Period] written notice to Tenant.
10. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [State], and any legal action arising out of or in connection with this Agreement shall be brought in the courts of [State].
This lease agreement for parking space is a basic template that can be customized to meet the specific needs of the landlord and tenant. It is important to include all necessary provisions to ensure that both parties are protected and that the lease agreement is legally binding.
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