Parking Space Lease
Overview of this form
The parking space lease is a legal document that formalizes the rental of a parking space from a lessor to a lessee. This agreement outlines the responsibilities of both parties, making it clear that the lessor is not liable for any damage to the lessee's vehicle or personal items left inside. Unlike a standard rental agreement for a residential property, this form is specifically designed for parking arrangements.
What’s included in this form
- Identification of the parties: Names of the lessor and lessee.
- Property description: Location and number of the leased parking space.
- Liability clauses: States the lessor's non-responsibility for vehicle damage or items left in the vehicle.
- Payment terms: Specifies the amount and frequency of payments due from the lessee.
- Receipt provision: Outlines that the lessor will provide receipts for all payments made.
When this form is needed
This form is useful in various situations, such as when an individual or business needs to secure a dedicated parking space for their vehicle. It is particularly relevant for condominium residents, office staff needing parking in busy areas, or any scenario where parking facilities are rented independently of property rental agreements.
Who needs this form
- Individuals renting a parking space.
- Business owners looking for parking solutions for employees or clients.
- Property owners offering parking spaces for lease.
- Tenants of a residential or commercial property seeking parking arrangements.
How to prepare this document
- Identify the parties by entering the names of the lessor and lessee.
- Specify the property location and the exact parking space number.
- Enter the payment amount and the frequency of payments (e.g., weekly or monthly).
- Include the address where payments will be made.
- Document any additional terms, such as the presence of parking lot attendants.
Notarization guidance
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to clarify payment terms, such as due dates and method of payment.
- Not specifying the exact location and number of the parking space.
- Leaving out liability clauses that define the responsibilities of the lessor.
- Not obtaining receipts for payments made, which can lead to disputes.
Why complete this form online
- Convenience of downloading and completing the form at your own pace.
- Editability allows for easy customization to meet specific needs.
- Access to professionally drafted forms ensures legal compliance and reduces risks.
Summary of main points
- The parking space lease delineates responsibilities between the lessor and lessee.
- It is crucial to accurately fill in payment and location details.
- Understand local laws regarding temporary parking agreements for compliance.
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FAQ
As per CMDA regulations, the minimum size of a car parking space is 2.5 m (8'2) wide and 5 m (16'4) long.
Angle Parking: In this type of parking, cars are parked at an angle. Perpendicular Parking: This type of parking is common in parking lots, where people park their cars for a longer duration. Parallel Parking: Illegal Parking: Lot Parking: Bay Parking: Between two Vehicles:
There are three types of parking: perpendicular, angled, and parallel.
Leased Parking Spaces means parking spaces that are rented and paid for by the Department as opposed to State-owned lots.
The minimum size of a standard parking space shall be nine feet wide and eighteen feet long. Parking spaces within enclosed garages shall have an interior dimension of at least ten feet wide and twenty feet long. The minimum size of a compact parking space shall be eight feet wide and sixteen feet long.
A high cost of land will encourage smaller dimensions and the introduction of compact spaces. Many garages and parking lots have spaces designated for a Compact car only. These spaces are narrower than traditional spaces, thus allowing more cars to park.
The minimum size of a standard parking space shall be nine feet wide and eighteen feet long. Parking spaces within enclosed garages shall have an interior dimension of at least ten feet wide and twenty feet long. The minimum size of a compact parking space shall be eight feet wide and sixteen feet long.
While a parking space can potentially earn an attractive return on investment, an investor still needs to buy it for the right price. That's because expenses such as taxes, insurance, and maintenance will likely run several hundred dollars per year, eating into cash flow.
A parking bay next to a wall should be 0.35 m wider, however, to allow for the opening of doors. This results in a bay size of 5 m in length and 2.85 min width. When the standard parking bay width is known, the width parallel to the end-of-stall line can be de- termined for different angles.
