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a garage lease agreement is a contract that is used specifically to address renting out a space for the purpose of parking or storing a vehicle garage lease agreements often come up in situations in which parking is at a premium such as crowded major cities or housing developments where parking is not included or when a business or organization has a vehicle fleet but doesnt own a space to store them how do garage lease agreements work think of a garage lease agreement like you would an agreement to rent a home or apartment in both cases one party the tenant is paying money to use a space owned by another party a landlord but while residential landlord-tenant matters tend to be highly regulated by state law garage agreements are less likely to have state statutes regulations or court cases to settle every question and there are fewer duties that are automatically imputed to the parties this means that in the event of a dispute or disagreement whats in the garage lease agreement will