What Is a Parking Space Lease Agreement?
A parking space lease agreement is a written contract that rents out a specific parking spot or assigned garage. It gives someone the right to park in a numbered space or private garage, without granting ownership.
This agreement works for residential or commercial use and typically applies outside a home or business lease unless parking is already included. It covers the price, how long parking is allowed, and the rules that come with using the space.
When to Use a Parking Space Rental Agreement
A parking space lease agreement makes sense when parking needs its own clear terms. It’s a good fit in a few common situations, including when you’re:
- Renting out a single parking spot or assigned garage on its own
- Charging separately for parking outside of an existing residential or commercial lease
- Assigning limited or shared parking and need to define who parks where
- Putting parking terms in writing because parking isn’t automatically included
If parking is part of an existing residential or commercial lease, you may not need a separate parking agreement. In that case, a lease addendum can be used to add parking terms to the original lease.
Home or Apartment Parking
Parking space leases are common for apartments, condos, and private driveways. The parking may come with a residential lease or be rented on its own. Many arrangements run month-to-month or for a short term and usually limit use to personal vehicles only.
Before renting out a space, check its size. Larger vehicles may not fit safely and can block access or cause damage.
Business or Commercial Parking
Commercial parking leases are often used for employee, tenant, or customer parking. The spaces usually relate to a business property, and might include multiple spots, assigned parking, or specific rules about who can park and when. Parking terms often follow the structure of a commercial lease, even when handled separately.
If a parking space is marked as accessible, special rules apply. These spaces are regulated by law and usually can’t be rented out or reassigned freely.
What to Include in a Parking Space Lease Agreement
A parking space rental agreement should clearly state who can park, where the space is, and how the arrangement works. To do that, start by answering the questions below.
- Who is renting out the space, and who can park there?
- Are any additional drivers allowed to use the space?
- Where is the parking space located?
- Is there an assigned space number, or more than one space?
- Is the parking available on a month-to-month basis or for a fixed term?
- When does parking access start?
- How often is rent due?
- How can rent be paid?
- Does a late fee apply if payment is late?
- How much notice is required to end the agreement?
- Where should payments and official notices be sent?
- Is liability insurance required for the vehicle, if applicable?
- Which state’s law applies to the agreement?
- When is the agreement signed or effective?
Legal Templates’ questionnaire walks you through each item, so nothing gets overlooked. By filling out each section, you help prevent issues like the wrong car using the space or extra drivers parking there, while also clearly setting the start and end dates for parking access.
If you need to rent storage space for items rather than vehicles, use Legal Templates’ storage space lease agreement.
Parking Lease Agreement Sample
Review a sample parking rental agreement to see how parking access and rent are handled. Then, customize the template and download it in Word or PDF.
