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A Parking Space Rental Agreement is a document that is used when an individual or organization, such as a partnership or corporation, wishes to rent out a parking space to another individual or organization. It contains the terms and conditions for the lease of the parking space.
A Parking Space Rental Agreement is important since the parties will have their expectations written down and agreed upon before the lease begins. It also serves to protect the parties from any unexpected surprises that may come along during the period of the lease.
The Parking Space Rental Agreement is a relatively simple document that includes a description of the parking space, the period of the lease and the amount and manner of payment of rent for the lease. The parties may also include other provisions such as a description of the vehicles that can be parked and schedule when the lessee may use the parking space.
How to use this document
The owner of a parking space should complete the information asked for in the document and print the same once it is completed. However, the document can also be filled up and printed by the person who will rent the parking space if the owner of the parking space does not have a parking space rental agreement that is readily available. The document should be signed by both parties.
The document also includes an Acknowledgment if the parties wish to acknowledge the parties the document before a notary public. An Acknowledgment is an act of a person before a notary public stating that the signature on a document was voluntarily affixed by him and he executed the document as his free and voluntary act. Acknowledging a document before a notary public turns document into a public document. Public documents are generally self-authenticating, meaning no other evidence will be needed to prove the execution of the document.
Laws on lease are generally governed by the Civil Code of the Philippines.
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