Parking Space Lease Agreement Template for Malaysia

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Key Requirements PROMPT example:

Parking Space Lease Agreement

"I need a Parking Space Lease Agreement for a shopping mall in Kuala Lumpur, where I'll be leasing out 50 parking spaces to a corporate tenant for their employees starting March 1, 2025, with specific provisions for access card systems and EV charging stations."

Document background
The Parking Space Lease Agreement is essential for formalizing arrangements between parking space owners and users in Malaysia. This document is commonly used in various contexts, from commercial buildings to residential complexes, where dedicated parking spaces are leased separately from primary property leases. It ensures compliance with Malaysian legal requirements, including the Contracts Act 1950, National Land Code 1965, and local authority regulations. The agreement covers crucial aspects such as identification of the specific parking space, rental terms, duration, access rights, maintenance responsibilities, and security measures. It's particularly relevant in urban areas where parking space is premium and requires clear legal documentation to prevent disputes and ensure proper management of parking facilities.
Suggested Sections

1. Parties: Identifies and provides full details of the lessor and lessee, including names, identification numbers, and addresses

2. Background: Brief context about the parking space lease arrangement and the parties' intention to enter into this agreement

3. Definitions: Defines key terms used throughout the agreement including 'Parking Space', 'Common Areas', 'Building', 'Term', and 'Rental Fee'

4. Grant of Lease: Specifies the exact parking space being leased and confirms the lessor's right to lease it

5. Term and Renewal: States the duration of the lease and any renewal options

6. Rental Fee and Payment Terms: Details the monthly/annual rent, payment method, due dates, and late payment consequences

7. Security Deposit: Specifies the security deposit amount, terms of holding, and conditions for refund

8. Use of Parking Space: Defines permitted uses, restrictions, and rules for using the parking space

9. Maintenance and Repairs: Outlines responsibilities for maintaining the parking space

10. Insurance and Liability: Addresses insurance requirements and allocation of risks

11. Default and Termination: Lists events of default and termination procedures

12. Governing Law: Specifies that Malaysian law governs the agreement

13. Execution: Signature blocks and execution formalities

Optional Sections

1. Access Cards and Security: Include when the parking facility uses electronic access systems or security passes

2. Subletting and Assignment: Include when the lessor wants to explicitly prohibit or allow subletting of the parking space

3. Electric Vehicle Charging: Include when the parking space includes or may include EV charging facilities

4. Common Area Rights: Include for parking spaces within larger facilities where access through common areas is needed

5. Building Rules: Include when the parking space is part of a larger building or complex with specific rules

6. Force Majeure: Include to address unforeseeable circumstances preventing performance

7. Notices: Include when formal communication procedures need to be established

Suggested Schedules

1. Schedule 1 - Parking Space Plan: Detailed plan or drawing showing the exact location and dimensions of the parking space

2. Schedule 2 - Building Rules and Regulations: Specific rules and regulations governing the use of the parking facility

3. Schedule 3 - Payment Schedule: Detailed breakdown of rental payments, deposits, and other applicable fees

4. Schedule 4 - Access Card Procedures: Procedures for obtaining, using, and returning access cards or passes

5. Schedule 5 - Condition Report: Documentation of the parking space condition at the start of the lease

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Real Estate

Property Management

Retail

Commercial Property

Residential Property

Facility Management

Parking Services

Shopping Centers

Office Buildings

Transportation

Relevant Teams

Legal

Operations

Facility Management

Property Management

Asset Management

Leasing

Administrative

Real Estate

Compliance

Contract Management

Relevant Roles

Property Manager

Facility Manager

Legal Counsel

Real Estate Manager

Building Administrator

Operations Manager

Leasing Manager

Property Administrator

Contract Administrator

Parking Operations Supervisor

Asset Manager

Property Owner

Building Manager

Real Estate Agent

Compliance Officer

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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