Leasing Reviews For Parking Facilities

Many parking facility owners prefer to establish a lease agreement for management and operations. Optimum Parking Solutions can assist facility owners in drafting leasing agreements that provide favorable terms and generate maximum revenue. We also regularly conduct reviews and audits of existing or renewing leases to ensure that the terms are meeting the needs and requirements of owners.  

Many owners assume that under a lease, there is no need to do random audits of the revenue. OPS has found in those cases in which the revenue is based on a percentage of total revenue, that random audits should be performed yearly to ensure that the Owner’s interest in being met with the maximizing of revenue.

Tenant Lease Reviews

OPS has performed numerous tenant lease audits for Owners to ensure that the parking operator is properly billing the tenant for their parking rights. Over the years, OPS has seen many missed rate changes to a tenant because the lease provisions were not setup properly in the billing system or not tracked at all by the operator. Some of these missed rate changes have amounted to thousands of dollars in missed revenue.

In addition to the tenant lease reviews, OPS also works with the leasing team to ensure the correct parking language is used in the tenant parking agreements in order to allow for changes in how parking might be handled in the future.