A Parking Sublease Agreement is utilized when a tenant wishes to sublease their parking rights to another party. This document, governed by English and Welsh law, is essential for clearly defining the terms of the parking arrangement, ensuring compliance with the head lease, and protecting all parties' interests. The agreement typically includes specific details about the parking space location, access rights, payment terms, maintenance responsibilities, and termination provisions. It's particularly important in urban areas where parking is at a premium and requires careful consideration of property law, local regulations, and the original lease terms.
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1. Parties: Details of the head tenant (sublessor) and subtenant (sublessee)
2. Background: Context of the agreement, including reference to head lease and authority to sublease
3. Definitions: Key terms used throughout the agreement
4. Grant of Sublease: Formal grant of the parking space rights
5. Term and Payments: Duration of sublease and payment terms
6. Permitted Use: Specified uses of the parking space
7. Maintenance and Repairs: Responsibilities for upkeep
8. Insurance: Required insurance coverage
9. Termination: Conditions for ending the agreement
1. Security Deposits: Terms for security deposit if required - use when requesting upfront security
2. Access Control: Details of access cards, keys, or permits - use for controlled parking facilities
3. CCTV and Monitoring: Terms regarding surveillance - use when parking area has monitoring systems
4. Electric Vehicle Charging: Terms for EV charging facilities - use when EV charging is available
1. Plan: Drawing or plan showing exact location of parking space
2. Head Lease Extract: Relevant provisions from head lease affecting sublease
3. Parking Rules and Regulations: Specific rules governing use of the parking facility
4. Payment Schedule: Detailed breakdown of payments and due dates
5. Photo Schedule: Photos documenting condition of parking space at start of sublease
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