Lease Parking Space Agreement With Parking
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FAQ
For exclusive-use parking spaces, each parking space does not have its own separate legal title, and is part of the common elements. These parking spaces may be specifically allocated (to a particular unit) in the Declaration, or they may in some cases be allocated by the Board.
But make sure you have permission to rent out the parking space if you are renting the house. Legally, this is subletting. It's advisable to obtain formal authorisation from your landlord or agent as it can indicate a violation of your tenancy agreement.
Landlords are required to have a ?just cause? reason to remove or sever specified housing services from a tenancy, including parking and storage. If parking or storage is taken away by the landlord, the tenant is entitled to a corresponding rent reduction.
If you're the owner of a parking space, you can sublet it without stress. However, if you're a tenant, you should first get approval from your landlord or the owner of the space or building before subletting.
In some places, renting a private parking spot could be interpreted as running a commercial enterprise, and that may be illegal depending on local zoning, bylaws and even the type of dwelling. In Toronto, homeowners or renters can legally rent a single spot ? but they cannot rent out their driveway or yard.