Sunday

South Africa - Advice on parking leases for commercial tenants - by Willem Tait


This note is aimed at parking leases

Traditionally you would lease useable space from your landlord i.e. for office use, warehousing etc and assigned to this space is a number of parking bays, dedicated for your use.

-Firstly, the parking bay relationship to your space should be in a separate lease or in an annexure to your lease agreement. The reason behind this is that during the length of your lease your parking requirements will or could change as your staff contingency changes. If the parking lease is in a separate document, it makes it very easy to re-sign a parking lease only and not the whole lease agreement.

-If you are leasing space in a multi tenanted building, it is imperative that your lease reflects the number and actual location of the bays that you are leasing. It is advantageous to attach an addendum to the lease with the parking bay layout and clearly marking your bays. As new and old tenants come and go, parking becomes available and are taken up and most landlords do not keep one single record of the movement of the bays.

-Most landlords will tell you that it does not make a difference, but believe me; you need a crystal clear record of parking if you need to resolve a dispute or uncertainty surrounding the allocation, usage, cost and access to parking bays.

-While you have a look at your lease, do a quick calculation of your real cost associated to parking rentals and the number of staff that you have. If needed, secure more bays now, while they are still available, or reduce your parking cost exposure if possible.

In closure, if you want to avoid problems with parking, spend a small amount and have your parking bays clearly marked with your company name or logo. It looks professional and if done correctly, will give you a bit of branding.

If you are in the market to lease, purchase or sell commercial property, kindly give me a call or join me for a cup of coffee at our Nelson Mandela Sandton Square offices.

Click Here and email us to be contacted.

Regards Willem Tait - Director, PropX Invesco (Pty) Ltd Cell: 084 491 1123 Tel: (011) 881-5797 willem@propx.co.za


More about me

I am a property broker and CEO of PropX, a commercial property consultancy. I’ve been in the game for the past 15 years, leasing and selling commercial space and can assist corporate tenants, buyers and sellers in finding, leasing and selling commercial property.

-also enjoy working with other property brokers and property professionals on a commission split basis in concluding transactions. Welcome to visit www.willemtait.com for more info on my company or email me willem@propx.co.za