The Parking Space Rental Agreement is essential for formalizing the lease of parking spaces in Hong Kong's densely populated urban environment, where parking facilities are valuable assets. This document is commonly used by property owners, management companies, and tenants seeking to establish clear terms for parking space rentals in residential buildings, commercial complexes, or dedicated parking facilities. The agreement addresses key aspects such as rental terms, security deposits, access arrangements, and liability allocation, while ensuring compliance with Hong Kong property laws and regulations. It can be customized for various scenarios, from individual car park spaces to multiple parking spots for commercial use, and includes necessary provisions for both short-term and long-term arrangements.
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1. Parties: Identifies and provides full details of the landlord and tenant, including Hong Kong ID numbers/Business Registration numbers
2. Background: Brief context explaining the purpose of the agreement and confirming the landlord's authority to rent the parking space
3. Definitions: Defines key terms used throughout the agreement including 'Parking Space', 'Common Areas', 'Building', 'Management Company'
4. Grant of Lease: Specifies the grant of right to use the parking space and its exact location
5. Term and Renewal: Details the duration of the lease and any renewal options
6. Rent and Payment Terms: Specifies the rental amount, payment schedule, and payment methods
7. Security Deposit: Details the amount, payment, and conditions for return of the security deposit
8. Use of Parking Space: Specifies permitted uses and restrictions for the parking space
9. Access and Security: Details access arrangements, security cards/devices, and related procedures
10. Maintenance and Repairs: Outlines responsibilities for maintenance and repairs of the parking space
11. Insurance and Liability: Specifies insurance requirements and allocation of liability
12. Termination: Sets out circumstances and procedures for early termination
13. Governing Law: Confirms Hong Kong law as governing law and jurisdiction
14. Entire Agreement: Standard entire agreement clause
1. Management Rules: Include when the parking space is subject to specific building or facility management rules
2. Assignment and Subletting: Include if the landlord wishes to explicitly prohibit or allow assignment or subletting
3. Force Majeure: Include for longer-term agreements or where specific risks need to be addressed
4. Environmental Compliance: Include if the parking space is for commercial vehicles or where specific environmental concerns exist
5. Alterations: Include if modifications to the parking space might be needed (e.g., for electric vehicle charging)
6. Notices: Include for longer-term agreements where formal communication procedures are needed
1. Schedule 1 - Parking Space Details: Detailed description of the parking space including location, dimensions, and any specific features
2. Schedule 2 - Building Rules and Regulations: Relevant building management rules affecting the parking space
3. Schedule 3 - Payment Schedule: Detailed breakdown of rent, deposits, and other charges if complex payment structure exists
4. Appendix A - Plan: Floor plan or layout showing the exact location of the parking space
5. Appendix B - Access Card/Device Procedures: Details of security access procedures and device handling
6. Appendix C - Handover Form: Condition checklist and handover documentation for the parking space
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Residential Property
Commercial Property
Retail
Hospitality
Corporate Services
Facilities Management
Automotive
Transportation
Parking Management
Relevant Teams
Legal
Property Management
Facilities Management
Real Estate
Operations
Administration
Asset Management
Contract Management
Building Services
Leasing
Relevant Roles
Property Manager
Facilities Manager
Real Estate Agent
Building Manager
Legal Counsel
Property Administrator
Leasing Manager
Operations Manager
Asset Manager
Parking Operations Supervisor
Contract Administrator
Property Services Director
Real Estate Transaction Manager
Building Operations Manager
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