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Requirements To Make It Legally Valid Create the deed with the names of the vehicle owner and parking space owner clearly mentioned. Ensure that the registration number of the vehicle intended to be parked and the address of the parking space is included as well. Clearly indicate details of rent and deposit.
If you're renting the property itself, you need to make sure you're actually allowed to rent out the parking space. This is technically subletting (which could be a breach of your tenancy agreement), so get some written consent from your landlord or agent.
Can I charge the existing tenants for parking? A landlord cannot charge a parking fee if the tenants have had free use of the parking facilities since the beginning of their tenancy, even if it was not specified in the rental agreement.
In Toronto, homeowners or renters can legally rent a single spot \u2013 but they cannot rent out their driveway or yard.
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