It surprises us at times that people don’t consider themselves an owner of property when they own a parking space and rent it out.
We hear nightmare stories time and time again of people who rent out a parking space and then there are issues. Then we find out that they didn’t have any sort of agreement set.
Look if you own a parking space or are letting someone use it – get a parking space contract written up. It’ll save you no end of hassles down the road.
As part of our landlord forms package, we offer a parking space agreement. This can be used simply if you are renting out a parking space to someone. It can also be used if you are a property owner but wish to set up a separate parking space as well.
Parking space agreements also need quite a few details. We’ve seen agreements where it’s just a few sentences stating Joe is renting the space from John for $150 a month. Then they both sign it. No no no no no.
Where’s the end date? How long is the agreement? Where’s the requirements as to what the tenant must adhere to? What about unlicensed vehicles? What happens in an emergency situation? What if there’s a late payment penalty? What if they park something there that you didn’t want them to?
That’s why it’s best not to do something up on the fly – use our professional but simple parking space agreement and put your mind at ease.
Parking Space Agreement Template:
Our parking space agreement is set up essentially as a blank template, and then you fill in all of the pertinent details.
Our system prompts you for what is needed however and then does the rest for you.
So let’s take you through the step by step process so you understand what is needed from you. And don’t worry it really is only a few minute process.
First of all it asks for the landlords name and address, and then the tenants name and address. We also offer the option for multiple landlords if the parking space is co-owned, or multiple tenants if there is going to be say a family using the parking space. If there are multiple parking spaces used by people you could also just use this form once and that will accommodate that request.
Then we get into the parking space. We leave it open for you rather than asking a huge amount of questions to quickly write in the details about the space. Then we request you provide an address as to where the parking space is located.
Next are the contract details – is it a lease agreement or a rental agreement? When does it begin? When does it end?
Then we’ve got the rent section. When is the rent paid? How often is it paid? What is the rent amount and how can they pay?
Finally we’ve got a section for late payments and additional customization details. If there’s a penalty for late payments or bounced checks. Want to add termination notice details for either a breach in lease, or the landlord or the tenant able to give certain days notice prior to terminating the agreement? We’ve got you covered there.
Is there going to be a security deposit? If so then we’ve got a section for that and if there won’t be a security deposit, just leave it default as “No”. Finally if there is restrictions on vehicles that can be parked there there is a section for that.
Our system then takes all the data you submitted and turns it into a complete parking space agreement, just waiting to be signed.
There’s a lot more to a parking space agreement than just the data you put in of course. However our system does all the work for you then lays it out nice and simple for you. We provide headers and bullet points and it lists it section by section so that you don’t need a law degree to basically understand everything.
First up in the output is the details about the space. Then the rent details fueled by the data you entered as well as the contract details in regard to the agreement. What type it is, the length etc.
Then there are the details about termination if you chose that. It explains what the tenant is responsible for for example and what must be done when they are vacating the premises.
Then there is sections in regard to towing, and inoperable unlicensed vehicles. This is the type of thing that makes it important to get a parking space agreement – even if you are renting to a friend, you need to be covered as sometimes you just don’t know someone that well.
Next there is a section in emergencies and what happens in the event of an emergency – that the tenant must immediately clear any parking facility etc and that the landlord shall not be obligated to make compensation for any expenses. You don’t want to tell someone they have to move for 5 days due to an emergency, then have them trying to get you to pay for their parking elsewhere. This is where a parking space agreement is handy as it protects you.
Parking Space Lease Agreement vs Parking Space Rental Agreement:
So a parking space lease agreement is an agreement between two parties there are specific start and end dates. When you are creating a parking space lease agreement, you will state when the lease starts and when it ends.
If you are creating a parking space rental agreement, that is a rolling agreement. You need to state when the agreement starts, and then the renewal period which is normally weekly, monthly or annually.
Our system is set up to handle BOTH parking space rental agreements and parking space lease agreements. So no matter which one you are looking for – our system will ask you which type it is and then create the form based on which agreement you chose.
How to include a Parking Space on a Lease Agreement:
We have a rental & lease agreement within our package of course, and we have a section within it for parking.
However we only advise providing details within the lease agreement if the parking space rules are easy. Something simple like “Shared driveway – can park one vehicle on the left”. Something like that? Yep that’s fine – throw that into the lease agreement and move on with your life.
However if there are more details or it is more complicated or you just want to protect your space, we advise getting a parking space agreement created separately.
When you create the lease agreement with our system for the property, you would choose the option to provide parking details but just state “parking space agreement attached” and then all of the details would be within this section.
Parking Space Agreement Download Formats:
We offer our parking space agreement in multiple formats.
Parking Space Agreement in PDF: Commonly opened by Adobe Acrobat, you will be able to download and print your parking space agreement in PDF format.
Parking Space Agreement in DOC / RTF: We also offer our parking space agreement in doc or rtf format to download. This can be convenient if you want to edit it further beyond our systems capabilities. We offer a lot of options but it’s possible you’re that 1 in 1 million person that it doesn’t fully accommodate. No problem! Simply download it in this format, and open it in MS Word or another Word Processing Software.
Parking Space Agreement in HTML: You can also download our parking space agreement in HTML format. This means you can open it with any web browser. Need to go to the library computer to print and not sure if they have Adobe or MS Word on their computers? Or are there security restrictions? Not a problem at all. You can open it with any web browser in this format.
Sample Parking Space Agreement:
Unfortunately we don’t offer a sample parking space agreement. The reason is that a lot of work has went into the parking space agreement we have for you PLUS there are so many variables and we just wouldn’t be able to include them all in one big sample.
Even if it we did, it would be a huge job for you having to go through and edit it – cutting out unnecessary options etc. That’s why we have a simple parking space agreement form for you to create – our system essentially holds your hand for you.
Also there are different rules and requirements at time depending on the State so there may be additional details needing to be thrown in there. We don’t want to be sitting here listing the parking space agreement details for California, or the parking space agreement regulations and citations for Nebraska, if you live in Nevada right?
Create your parking space agreement with us – there is a 30 day no questions asked refund policy too.
Parking Space Agreement Q&A:
How do I cancel a parking space in a lease agreement?
If you are making a modification to an existing lease agreement – such as canceling or removing a parking space – you would need a lease modification agreement.
Within that lease modification agreement, you would then state data in regard to the original lease, and what modifications you are making to it such as canceling the parking space.
You would have to be clear and concise in regard to this, then both you and the tenant must sign it.
Luckily we make it easy for you as one of the forms within our landlord forms package is a Lease Agreement Modification.
How to include a parking space on a lease agreement?
This specific agreement is set up purely for a parking space. If you are looking to set up a parking space within an existing lease agreement – ie they are renting from you a house and also a parking space – you would do that via our lease and rental agreement.