How To Draw Up a Parking Lease Agreement

Standardized Legal Documents How To Draw Up a Parking Lease Agreement

Parking Lease Agreement in a Nutshell

Finding a good parking spot near your workplace or other places you frequent is often demanding, especially if you live in a big city. 

Whether you own a parking lot you don’t use or are in dire need of a parking space, a parking lease is the best solution. The less exciting news is that it usually requires a specific legal document you must sign with the other party.

If you aren’t familiar with parking lease agreements, this article will solve all your dilemmas. We will share great advice on what parts every good parking lease agreement template should have and how to write your future contracts within minutes!


How Does a Parking Lease Agreement Work?

A parking lease contract is a written agreement that fortifies the verbal deal between the parking lot owner and the person who wants to rent the particular parking space. The signing parties can be individuals or companies, opting for one of the two available contract forms:

  1. Fixed-term contract—Signing entities determine the lease period in advance
  2. Month-to-month lease contract—The agreement lasts for 30 days and renews every month until the parties decide to terminate it

While both signing entities must agree upon the conditions stated in the contract, the lessor should determine the liability rules. To be legally binding, parking lease agreements must be signed by both parties. They usually don’t need notarization, but if you want additional security, you can have your signatures validated by a notary at any time.

Can I Make a Parking Space Rental Agreement Myself?

Writing a parking space rental agreement requires specific terms and sections. Here’s a table showing a suggested structure to use for your contract:

Sections

Details

Information about the signees and lease
  • Full names and signatures of the lessor and lessee
  • Physical addresses of the lessor and lessee
  • Optional contact details—phone numbers or email addresses
  • Lease duration—a start and end date of the lease
  • Lease term
  • Vehicle description—age, make, mileage, etc.
Parking space information
  • Location
  • Stall number
  • Specific period during which the parking spot is available (if applicable)
Payment
  • Rent amount
  • Rent payment method
  • Due date
  • Monthly installments option
  • Deposit information (if applicable)
Terms and conditions
  • Limitations
  • Liability details—use of space and damages
  • Service and maintenance requirements
  • Registration and insurance details
  • Governing laws
  • Termination policy

Each state has laws regulating mandatory lease-related terms and conditions. The best way to learn more about them is to revise the rules from the manuals of your local jurisdiction. 

What Are the Main Benefits of a Parking Lease Agreement?

Signing a parking agreement brings perks for both parties. It can help you:

  • Clarify the verbal agreement details—Outlining your expectations in person is recommendable, but it isn’t enough. Having all the conditions you agree upon in writing will allow you to remind yourself of your duties and check whether the other party complies with the rules
  • Reduce costs—Leasing a parking spot and paying a monthly fee is more affordable than paying for public parking every day
  • Provide admissible evidence in court—If something goes wrong and you end up in court, you can use the agreement to prove the rule violation

How Can DoNotPay Help Me Create Legal Documents?

Whether you need a parking lease agreement or any other legal document, creating contracts is a serious endeavor. If you don’t know much about the law, there’s a big chance your draft will turn into an invalid document. 

If you need assistance but don’t want to spend loads of money on lawyers, DoNotPay has your back! Our award-winning app allows you to pick a legal document and customize it to get a fully personalized contract.

To use our help, proceed as follows:

  1. Open DoNotPay in any preferred web browser
  2. Search for the document you need
  3. Respond to several questions to help us create a perfect contract for you

As soon as you complete this short procedure, we will generate your agreement right away. Once you print it out, all you need to do to make it valid is sign it or get it notarized.

Our database offers the following adaptable legal documents:

Can I Get Information About Other Contracts From DoNotPay?

You can visit our learning base from any web browser and study other types of agreements in our knowledge base. Below is the table with articles you may find useful:

State-Specific Lease-Related Guides Miscellaneous Contract-Related Guides

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