Designated, reserved parking spaces appurtenant to office leases are highly valued by certain types of tenants, especially in the downtown, metropolitan markets. Thus, a tenant's counsel must carefully consider the parking provision when negotiating an office lease. Landlord-oriented form leases often give the landlord the right: 1) to expand or change any parking area, 2) to temporarily close off portions of the parking areas for purposes of expanding, repairing, restoring, constructing or reconstructing the parking decks, and 3) to change, from time-to-time, the rules and regulations with regard to the parking area. The tenant's counsel should always make sure that the lease properly limits these rights so that they cannot be used in a manner that will potentially, adversely affect the tenant's use of its parking rights. All new rules should be limited by a "reasonableness" qualifier, and the landlord should be required to enforce the rules and regulations in a "nondiscriminatory manner as against tenant."
Stacy E. SmithPart Two of a Two-Part Series
Essential Negotiation Considerations in Various Commercial Leases
Office Leases
Designated, reserved parking spaces appurtenant to office leases are highly valued by certain types of tenants, especially in the downtown, metropolitan markets. Thus, a tenant's counsel must carefully consider the parking provision when negotiating an office lease.
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