When it comes to parking, things can get tricky. Whether you’re a landlord looking to lease out a parking space or a tenant in need of one, having a clear and detailed parking space agreement is essential. A parking space agreement outlines the terms and conditions of the parking lease, including the cost, duration, and rules regarding the use of the parking space. In this article, we will provide you with a sample parking space agreement to help you create a legally-binding and comprehensive agreement.
(Please note that this is just a sample agreement and should not be used as a substitute for seeking legal advice. The agreement may vary based on the specific needs and circumstances of each situation.)
[Parking Space Agreement]
This parking space agreement (“Agreement”) is entered into between [Landlord’s Name] (“Landlord”) and [Tenant’s Name] (“Tenant”) on [Date] for the lease of a parking space located at [Address].
Term
The term of this Agreement shall be for [Duration] starting on [Date] and terminating on [Date]. This Agreement shall automatically renew for additional periods of [Duration] (each a “Renewal Term”), unless either party gives written notice of non-renewal at least [Notice Period] days prior to the end of the then-current term.
Rent
The Tenant shall pay the Landlord [Rent Amount] per [Payment Period] for the use of the parking space. Rent payments shall be made to [Payment Method] on the [Payment Date] of each month.
Use of the Parking Space
The Tenant shall have the exclusive right to use the parking space for the parking of one [Type of Vehicle]. The Tenant shall not use the parking space for any other purpose, including but not limited to, storage of any kind, repair work, or commercial use.
Rules and Regulations
The Tenant shall comply with all rules and regulations applicable to the parking space, including any building or community parking regulations. The Tenant shall not park any other vehicle in the parking space other than the one described in this Agreement.
Damage and Liability
The Tenant shall be responsible for any damage caused to the parking space or any property in the immediate vicinity of the parking space by the Tenant, the Tenant’s vehicle, or any of the Tenant’s guests. The Tenant shall also be responsible for any personal injury or property damage caused by the Tenant, the Tenant’s vehicle, or any of the Tenant’s guests.
Termination
This Agreement may be terminated by either party upon [Termination Notice Period] days’ written notice to the other party. Upon termination of this Agreement, the Tenant shall remove all personal property from the parking space and leave it in a clean and tidy condition.
Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the [Governing Law State]. Any disputes arising under or in connection with this Agreement shall be resolved in accordance with the laws of the [Governing Law State].
Entire Agreement
This Agreement constitutes the entire understanding between the parties and supersedes all prior discussions, negotiations, and agreements made between them. This Agreement may not be amended, waived, or modified except in writing signed by both parties.
In conclusion, a parking space agreement is a critical document that can help to protect both the landlord and the tenant. By using the above sample agreement as a guide, both parties can rest assured that they are on the same page regarding the terms and conditions of the parking lease. It is always advisable to seek legal advice to ensure that any specific requirements or rules are included in the agreement.