PARKING SPACE LEASE AGREEMENT
THIS PARKING SPACE LEASE AGREEMENT ("Agreement") is made and entered into as of [Date] ("Effective Date"),
BETWEEN:
[Lessor Name], located at [Address] ("Lessor"),
AND:
[Lessee Name], residing at [Address] ("Lessee").
WHEREAS, Lessor owns or manages parking facilities; and WHEREAS, Lessee desires to lease a parking space;
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Parties agree as follows:
1. DEFINITIONS
1.1 "Parking Space" means the designated parking space numbered [Space Number] located at [Facility Name/Address] ("Parking Facility").
1.2 "Vehicle" means the motor vehicle registered to Lessee: Make: [Make], Model: [Model], Year: [Year], Color: [Color], License Plate: [Plate Number], VIN: [VIN].
1.3 "Monthly Fee" means $[Amount] due on the [1st] of each month.
2. LEASE TERM
2.1 Term. This lease commences on [Start Date] and continues for [Number] months, ending on [End Date], unless terminated earlier in accordance with this Agreement.
2.2 Renewal. After the initial term, this Agreement shall automatically renew on a month-to-month basis unless either Party provides [30] days written notice of termination.
3. FEES AND PAYMENT
3.1 Monthly Fee. Lessee shall pay the Monthly Fee of $[Amount] in advance on the [1st] day of each month by [check/electronic transfer/credit card].
3.2 Security Deposit. Lessee shall pay a security deposit of $[Amount] upon execution of this Agreement. The deposit shall be returned within [30] days after termination, less any amounts owed.
3.3 Late Fee. A late fee of $[Amount] shall be assessed if payment is not received within [5] days of the due date.
3.4 Fee Adjustments. Lessor may adjust the Monthly Fee with [30] days written notice, effective at the start of the next billing period.
4. USE AND RESTRICTIONS
4.1 Permitted Use. The Parking Space shall be used exclusively for parking the Vehicle identified in Section 1.2. No other vehicles may use the space without prior written consent.
4.2 Vehicle Condition. The Vehicle must be currently registered, insured, and in operable condition. Inoperable vehicles, vehicles leaking fluids, or vehicles without valid registration may be towed at Lessee's expense.
4.3 Prohibited Activities. Lessee shall NOT: (a) perform vehicle repairs or maintenance in the Parking Space; (b) wash vehicles in the Facility; (c) store hazardous materials, flammable liquids, or extra tires/parts; (d) use the space for storage of non-vehicle items; (e) assign or sublease the space without written consent; (f) park recreational vehicles, boats, or trailers without authorization; (g) exceed posted speed limits within the Facility; (h) block other spaces, driveways, or fire lanes.
4.4 Access. Lessee shall have access to the Parking Space [24 hours/7 days per week] / [during hours of: Start-End].
4.5 Access Devices. Lessee shall be issued [key card/remote/access code] for Facility entry. Lost or damaged access devices shall be replaced at a cost of $[Amount].
5. VEHICLE CHANGES
5.1 Lessee must notify Lessor in writing within [5] business days of any change in the Vehicle using the Parking Space, including new license plate numbers or replacement vehicles.
6. INSURANCE AND LIABILITY
6.1 Insurance. Lessee shall maintain valid automobile insurance with minimum coverage of $[Amount] liability and $[Amount] comprehensive/collision.
6.2 Limitation of Liability. LESSOR SHALL NOT BE LIABLE FOR ANY LOSS, DAMAGE, OR THEFT OF THE VEHICLE OR ITS CONTENTS, except where caused by Lessor's gross negligence or willful misconduct. Parking is at Lessee's sole risk.
6.3 Indemnification. Lessee shall indemnify and hold harmless Lessor from any claims, damages, or liabilities arising from Lessee's use of the Parking Space or Facility, including damage to other vehicles or property.
7. MAINTENANCE AND CONDITION
7.1 Lessor shall maintain the Parking Facility in reasonably clean and safe condition, including lighting, striping, and structural maintenance.
7.2 Lessee shall keep the Parking Space clean and free of debris and shall promptly report any damage or safety concerns.
8. TOWING AND ENFORCEMENT
8.1 Lessor reserves the right to tow any unauthorized vehicle or any vehicle in violation of this Agreement at the vehicle owner's expense.
8.2 Lessee acknowledges that repeated violations may result in termination of this Agreement.
9. TERMINATION
9.1 By Either Party. Either Party may terminate this Agreement with [30] days written notice.
9.2 Immediate Termination. Lessor may terminate immediately if Lessee: (a) fails to pay rent for [15] consecutive days; (b) uses the space for illegal purposes; (c) creates a safety hazard; (d) materially breaches this Agreement.
9.3 Upon Termination. Lessee shall vacate the Parking Space and return all access devices. Any vehicle remaining after termination may be towed at Lessee's expense.
10. GOVERNING LAW
10.1 This Agreement shall be governed by and construed in accordance with the laws of the State of [State/Jurisdiction], without regard to its conflict of law provisions.
10.2 Any disputes arising under or in connection with this Agreement shall be resolved in the courts of [County/City], [State], and each Party consents to the exclusive jurisdiction thereof.
11. SEVERABILITY
11.1 If any provision of this Agreement is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect.
11.2 Any invalid provision shall be modified to the minimum extent necessary to make it valid while preserving the Parties' original intent.
12. ENTIRE AGREEMENT
12.1 This Agreement constitutes the entire agreement between the Parties concerning its subject matter and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written.
12.2 No amendment or modification of this Agreement shall be valid unless made in writing and signed by both Parties.
13. NOTICES
13.1 All notices required under this Agreement shall be in writing and delivered by: (a) personal delivery; (b) certified mail, return receipt requested; or (c) nationally recognized overnight courier, addressed to the respective Party at the address set forth above.
13.2 Notices shall be deemed received upon: (a) personal delivery; (b) three (3) business days after mailing; or (c) one (1) business day after deposit with overnight courier.
14. FORCE MAJEURE
14.1 Neither Party shall be liable for failure to perform its obligations if such failure results from circumstances beyond its reasonable control, including but not limited to acts of God, natural disasters, war, terrorism, pandemics, government actions, or failures of third-party telecommunications or power supply.
DISCLAIMER: This template is provided for informational purposes only and does not constitute legal advice. Parties should consult with qualified legal counsel before executing this agreement.
SIGNATURES
[PARTY A / FIRST PARTY]:
Signature: _________________________
Name: [Full Name]
Title: [Title]
Date: __________
[PARTY B / SECOND PARTY]:
Signature: _________________________
Name: [Full Name]
Title: [Title]
Date: __________
