Key Clauses in a Parking Lease Agreement
When renting out a residential or commercial parking slot, signing a clear agreement prevents future misunderstandings regarding rent dates, vehicle damage, and duration.
- Identification of Property: Clearly state the exact parking bay/slot number (e.g. Stilt Bay #42 or Basement 1 #B-108) and building address.
- Vehicle Specification: Mention the registered Vehicle Make, Model, and Registration Number (e.g. KA-01-AB-1234).
- Rent & Deposit: Specify the monthly rental amount, due date (e.g. 5th of each month), and refundable security deposit (usually 1-2 months).
- Indemnity & Liability: Clearly state that the vehicle is parked at the owner's risk with active third-party/comprehensive motor insurance.
- Notice Period: Standard 30-day written notice by either party for termination.
Standard Parking Agreement Template
Want it filled in? Use the free parking rental agreement generator — type the details once and print a ready-to-sign agreement.
PARKING SPACE LEAVE AND LICENSE AGREEMENT
This Agreement is entered into on this ______ day of ____________, 20____, by and between:
LICENSOR (Space Owner / Flat Owner):
Name: ____________________________________________________
Flat / Property No: _________________________________________
Apartment / Society Name: __________________________________
Locality & City: ___________________________________________
Phone Number: _____________________________________________
AND
LICENSEE (Vehicle Owner / Renter):
Name: ____________________________________________________
Permanent Address: ________________________________________
Vehicle Make & Model: ______________________________________
Vehicle Registration Number: _______________________________
Phone Number: _____________________________________________
1. PREMISES:
The Licensor grants permission to the Licensee to park their designated vehicle in Parking Slot No. _______ located at ___________________________________________________.
2. TERM & RENT:
The license shall be effective for a period of ______ months commencing from _____________ to _____________.
The monthly rent is fixed at Rs. ____________/- (Rupees _________________________________ only) payable on or before the ______ day of each calendar month via UPI / Bank Transfer.
3. SECURITY DEPOSIT:
The Licensee has paid a refundable interest-free security deposit of Rs. ____________/- which shall be refunded upon expiration or termination of this agreement.
4. TERMS OF USE:
- The parking space shall be used strictly for parking the above-mentioned vehicle only.
- The Licensee shall adhere to all housing society security and parking rules.
- The vehicle is parked at the sole risk of the Licensee. The Licensor or Society shall not be liable for damage, loss, or theft.
5. TERMINATION:
Either party may terminate this agreement by providing ______ days prior written notice.
IN WITNESS WHEREOF, the parties hereto have set their hands on the day and year first written above.
___________________________ ___________________________
Licensor Signature Licensee Signature