A ‘Parking Space Rental Agreement’ is a contract that is entered into between a property owner and a car owner. It basically gives a car owner the leeway to use a designated parking lot to station his vehicle for a predefined amount of time in return for some money.
This contract generally runs for a month. Under some unusual circumstances, it may be charged on an hourly or daily basis. It is mainly employed by those vehicle owners who ply a fixed route on a regular basis and for a prolonged length of time.
When to use this agreement?
Cut down Costs
Long-term leases are cheaper than their short-term counterparts. You not only pay less if you opt for a long-term lease but also qualify for discounts and other forms of incentives.
Parking your vehicle, the ‘normal way’ predisposes you to the risks of forgetfulness. You generally are more likely to forget that you had an obligation to fulfill. The case is, however, totally different from the agreement in place.
Expedite the Parking Processes
Entering such a long-term lease definitely expedites the parking processes. That is because it cuts down the time you would naturally take to park your car.
Ward off Unnecessary Disputes
Upon entering such an agreement, you will generally be designated a slot permanently. No one else will be allowed to park his car at that slot. This contributes to warding off unnecessary disputes later on.
Aids with Litigation
In the unlikely event that the disputes regarding the use of the designated parking spills over to the courtrooms, the agreement yet again comes in handy. It may be used as an exhibitor affidavit to vouch for the claim to park in that area.
How to lease a parking space?
Before the ‘parking rental lease agreement’ comes to effect, it has to be filled out appropriately. This entails following some procedures. We devote this segment of the discussions to just that. Read through them here below:
Step I: Advertise the Vacancy
If you have some spare space to lease out, you will first and foremost have to advertise its availability. This something you do via the local dailies, websites, yellow pages, and billboards. The advert should showcase the location of the property, size, and the costs involved.
Step II: Receive and vet the Applicants
You will receive numerous expressions of interest from persons with cars. Take your time to vet these applicants and ascertain their suitability for the rental space. Check their backgrounds, criminal records, and any other issue of interest which might matter with regards to the use of your space.
Step III: Draft and sign the Lease Agreement
Draft and sign the lease agreement. To do this, you will first and foremost have to download a template or take a step-by-step wizard to create an agreement.
The core of the agreement ought to include:
- The entire duration of the lease
- Terms of the lease
- Rental amounts and due dates
- Rules of subletting
- Current Registration & Insurance
- Maintenance procedures and requirements
- Use of space & damages
- Governing laws
Step IV: Append Signatures
After filling the form, you have to append the signatures. Both the lesser and the lesser have to not only append their signatures but also print their names in the block. That way, they will make the agreement gain the official character.
Step V: Moving In
Lastly, the lessee has to move into the facility. This simply means utilizing the parking space for the purpose of stationing the vehicle, loading and offloading luggage from cars, and so on.
Parking space rental agreement templates
It is impossible for you to do a good job without invoking the assistance of an appropriate ‘Parking space Rental Lease Agreement template.’ This is a template or wizard that basically takes you through some step-by-step procedures to fill out the form.
In doing so, it irons out any ambiguities and the associated confusion that arise. That makes you do the best job, on the whole. This undoubtedly is the best solution to write the agreement.
Possible violations from the lessee
There are no universal rules that define the violations of the ‘parking space rental lease agreement.’ However, the following are some of the common mistakes which the signees of this agreement may make when the agreement is in force:
- Sub-letting the space to another party
- Transferring the slot to a third party without the consent of the property owner
- Parking for longer than the agreed-upon number of hours
- Engaging in unlawful activities while parking the vehicle
How to remove lessee?
If your lessee engages in one of the afore-listed activities, you have to remove him from your property. It is important to notify the lessee privately and individually. Explain to him why the activity is unlawful and serves an eviction. Then, give him time to comply and reform. If there is no real change of heart within the ultimatum period, ask him to leave voluntarily. You will, thereafter, bring in law enforcers.