Parking Clause

Parking

note risk

commercial lease

Allocation, cost, and reservation of parking spaces.

Tenant-friendly language

“Tenant receives a guaranteed ratio of free reserved spaces for the term.”

Landlord-friendly language

“Parking is unreserved, subject to availability, and may carry a monthly charge.”

What to watch out for

No guaranteed spaces, escalating parking charges, loss of spaces on redevelopment.

How to negotiate

Specify a guaranteed space count and cap any parking charge escalation.

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