Shared Parking Agreement

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Shared Parking Agreement

A Brief Introduction of Shared Parking Agreement

Generally, shared Parking suggests that the parking spaces are used by one or more users with a mutual understanding, which ultimately allows the user to use the parking facilities and area in an efficient and effective manner. For the aforesaid use, legally, there is a document that has to be signed between the users called Shared Parking Agreement. It provides an advantage to each of the parties to avoid any sort of dispute in the future, or in case of any dispute, they can go the legal way to sort out the same.

Shared Parking provides the advantage for most of the parking areas to be used on a part-time basis by some groups. Most of the parking facilities have a wider portion for the unused parking spaces for the utilization of the patterns which follows mostly weekly, daily of annual cycles.

Who Takes the Shared Parking Agreement?

This agreement is also known as a memorandum of the lease or a reciprocal easement agreement. It is a mutual agreement between two or more users of a parking space to help them use it in an amicable and shared manner as provided by the landlord of the parking area. This is an agreement between the owner of the parking space and the shared user of the parking space, also known as seller and buyer.

It provides an advantage to each of the parties to avoid any sort of dispute in the future, or in case of any dispute, they can go the legal way to sort out the same. In case of a severe dispute between the parties, the lease agreement works as an evidence to resolve such type of dispute and helps to settle the dispute amicably, ensuring the right conduct of both the parties during the entire contract tenure.

Purpose of the Shared Parking Agreement

The main purpose of this agreement is to avoid any sort of dispute between the users of the parking space. It provides a legal identification to the agreement that has been decided by the owner of the land of parking space and the users of the parking spaces for amicable settlement in case any disputes in the future and the same can be tackled legally.

Contents of the Shared Parking Agreement

If you’re not sure about the clauses that go into a shared parking agreement, you can always get a shared parking agreement sample . Our shared parking agreement template will give you an idea of how to draft your agreement. That being said, the following are the main aspects and details that have to be included in a shared parking lease agreement;

  • Name and address of the owner of the land for parking space and users of the parking space
  • Address of the property for which share of Parking is required
  • Total Sale Amount or rent amount if any
  • Amount of Security Deposit if any
  • Duration of the Agreement
  • Fees of Attorney
  • Fees for Renewal if any
  • Facilities and Amenities details
  • Termination methods and process of Agreement

How to Draft the Shared Parking Agreement

The following are the details of the process of drafting a lease agreement in Massachusetts:

  • The names and address of the owner of the land of the parking space and users of the parking space with their permanent and present address and telephone numbers
  • A brief description regarding the share parking property along with the description of the geographical area
  • Amount of rent, late fee charges, due date, grace period and penalties applicable if any
  • Description and details of the facilities and amenities provided in the property
  • Details of the Rules and Regulations regarding the conduct of the tenant during his/her stay in the property
  • Details of maintenance charges
  • Details of restrictions and prohibition
  • Rules and regulation related to Parking

Negotiation Strategy

When a business or agreement is done, it is basically the choice of the parties to negotiate or not and most importantly how the negotiation will be made. Likewise, in case of a shared parking agreement as well the negotiation strategy depends on the parties involved in the contract. It is the choice of the parties for negotiation whether it may be terms of timelines, finances or terms and conditions of the agreements.

Benefits of the Shared Parking Agreement

Shared parking services provide a lot of tangible and intangible benefits. One of the major advantages is to the businesses by cutting the cost of developing and maintaining parking spaces by participating in shared parking activities. Shared parking also reduces the land devoted to parking. In high-density urban areas, this can help in providing more amenities. A properly managed shared parking activity can encourage pedestrian access and bike commute while reducing reliance on private vehicles.

It provides an advantage to each of the parties to avoid any sort of dispute in the future, or in case of any dispute, they can go the legal way to sort out the same. Shared Parking provides the advantage for most of the parking area that it is used on a part-time basis by some groups. However, some times the users can face issues in parking facilities, and they cannot make an individual decision, and they have to make a mutual decision on everything.

[ Also Read: Parking Space Rental Agreement ]

What Happens in Case of Violation?

There are different rules and regulations that are there for the violation of a parking agreement, which also based on the current scenario. In most of the cases, when a user violates the terms and conditions of an agreement, he/she can be evicted from the property as per the discretion of the other landlord/owner of the parking space. Apart from that, the contract can be terminated based on the violation of Agreement, which is otherwise known as breach of contract(1). The user can be sued by the other users for not performing the promise made by him as agreed in the contract or Agreement.

Moreover, in case the violation of the Agreement on the part of the landowner of the parking spaces, the users can sue the landlord for forceful eviction of himself/ herself from the property without providing any justified explanation. However, there are so many ways to tackle the disputes between the parties in an agreement, which completely depended upon the landlord and tenant and the scenarios.

Shared Parking contract these days is considered as a legal document for providing parking facilities in the property, which ensures that both landlord and users have their part of rights and obligations on the property during the tenure of Agreement. As discussed, it has its own benefits and limitations but provides a secure and safe way to resolve any sort of dispute between the parties legally without any hassle.