Parking Space Lease Agreement

What is a parking space lease agreement?

A parking lease agreement is a legally binding agreement between the parking owner and a person willing to rent out a designated parking space in compliance with the Landlord and Tenant Act 1954.

This document outlines key terms and conditions of the licence to occupy, including parking space description, details of the parties, details of the lease, etc.

This parking rental agreement is ideal for renting out residential or commercial parking space in England, ales or Northern Ireland. For renting out parking space in Scotland, another document should be used instead.

What should be included in the car park lease agreement template​?

A standard parking rental agreement template must include:

Identification details of parties

The parties to this agreement are the owner and the licensee. An owner is a landlord or letting agent who rents out a parking space. A licensee can be a single tenant, family or any other third party who needs a parking lot for their vehicle.

The text of the document must outline their full legal names, registered mailing addresses, and contact information such as phone number or email.

Parking Lot Description

A typical lease agreement parking space​ should include address of the property here parking lot is located, as ell as description of the lot, including:

• size;
• specific features (for example, additional storage space);
• access details (for example, keys, access code); and
• list of vehicles that can or cannot be parked.

Rental Payments

A car park lease agreement should outline rental payment details, including:

• rent amount in pounds, excluding VAT;
• acceptable payment method; and
• frequency of payments (every week or every month)

Difference between a lease and a licence for parking spaces

Before entering this parking space rental agreement, it is important to understand the difference between a lease and a licence to occupy.

A lease is more broader concept that allows tenants not only to occupy property, but all possess it. In simple words it means that that landlord cannot enter the leased premises, unless a prior written notice is sent to the tenant. On top of that, upon termination of the lease the landlord cannot evict the tenant without a respective court order.

Contrary to that, a licence to occupy is a limited concept, allowing the tenant or licensee to use the rental property on the terms and conditions defined by the owner. The licence to occupy can be terminated by either party at any time by sending a respective prior written notice. No eviction rule shall apply in case of termination of licence to occupy.

Who can use this parking rental agreement?

Having a solid and well-drafted parking rental agreement template can be suitable for:

• private landlords willing to rent out parking slot for a short period of time;
• property investors looking for long-term occupation of a parking space;
• UK businesses searching to rent out extra parking spaces for their employees or staff;
• tenants with vehicles willing to get a licence to occupy for their cars;
• anyone looking for a reliable template for parking space rental.

This template cannot be used by landlords or lettings agents willing to rent out residential property in the UK. For residential properties located in England and Wales, an assured tenancy agreement should be used. For a residential property located in Scotland, a private residential tenancy agreement should be used. For a property located in Northern Ireland, a private tenancy agreement should be used instead.

Benefits of using a written parking space rental agreement

There is no single law in the UK obliging parties to enter a formal written parking space rental agreement template. That means that parties can agree on most important provisions of the rental verbally or informally by exchanging emails or messages.

However, most landlords in the UK choose to have a written document for the following reasons:

Protection During Dispute

In case there is a dispute between the parties, a written lease agreement for car parking space serves as a proof of parties’ initial arrangement. This is something they can be used by either party in the court as a written proof for existence of rental relations, or confirming certain rental terms and conditions.

Failure to have a written document does not exclude either party’s right to submit a dispute to the court. However, absence of a written record makes it harder and longer for courts across the UK to establish real parties’ intentions.

Lack of Ambiguity

A solid lease agreement parking space helps to clarify expectations for both parties involved. It helps to establish the key terms and conditions of the lease, including:

• details of the parking space;
• amount and frequency of rental payments; and
• duration of lease.

Roadmap

A written parking space lease agreement helps to guide both parties regarding proper execution of the lease. The document ensures a proper legal balance between landlord’s rights and licensee’s obligations, and vice versa.

How to customise this parking space lease agreement with FasterDraft?

To get a fully customisable agreement template, follow a few easy steps below:

1. Click the “Create Document” button.
2. Answer simple questions in the form.
3. Select a template’s format – parking space rental agreement PDF or word.
4. E-sign the document, if you are an owner.
5. Make a payment.

A fully customisable agreement is ready for instant download immediately after the purchase.