Parking Space Lease Agreement
A parking space lease agreement is a written contract between a landlord of parking space and a lessee or renter, who will use the space for parking their vehicle.
It is a legal document and is prepared by keeping the laws of government in check. Most of the parking spaces are owned by landlords and they lease this space to vehicle owners in exchange for periodic payments which can be done weekly or monthly. Complete authority of the space stays with the landlord and they are entitled to use it any time they want.
Template of parking space lease agreement is provided below,
This agreement is drafted on a date (__/__/__) among the following individuals,
Name: Eric Dane
Address: 59 Moon Street, New York, USA.
Contact: 234 567-8044
Name: Chris Legend
Address: 35 Main boulevards, XYZ.
Contact: 345 677-8933
Terms and conditions of parking space lease agreement are given below,
- This agreement shall commence from date (__/__/__) and should be followed strictly.
- Agreement shall continue for a time period of 2 years.
- After the completion of 2 years, lessee shall renew the agreement based on their requirement.
- Lessee shall inform lessor about the renewal 30 days before its happening.
- Rent shall be paid in cash and no online transfer or cheques shall be accepted by lessor.
- Lessor shall take serious actions against lessee if the rent is not paid on time.
- Rent shall increase by 5% after every 6 months.
- Lessee shall be given the parking space for one motor vehicle.
- Lessee shall only use 45 B parking space in the whole area.
- Lessee shall not park the vehicle anywhere else than 45 B.
- Lessor shall be paid with rent within a week of every month.
- Lessee shall make sure that no other individual is disturbed in any manner because of their vehicle.
- Lessee shall not allow any other individual to use their parking space.
- Lessor shall terminate this agreement if they find anything suspicious or immoral.
- Lessee shall not engage in any illegal or inappropriate activity.
- Lessee shall make sure that parking space always remains clean and tidy.
- Lessee shall be held accountable if lessor observes any other vehicle parked.
- Lessee shall inform lessor about changing vehicle or parking space.
- Lessor shall terminate the agreement earlier than its due time due to any reason.
- In case of earlier termination, lessee shall not use the parking space at any cost.
- Lessee shall not rent the space to any other individual.
- A new agreement shall be drafted if lessee buyer a bigger vehicle and need more parking space.
- If the space is not uniform or face any other issue, lessee shall immediately inform lessor.
- Legal counsels of both parties shall witness the process to ensure the awareness of rights by both parties.
- Witnesses shall co-sign the agreement to ensure a smooth process down the lane.
Lessor: Eric Dane
Lessee: Chris Legend
Witness #1: Derek Hugh