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Old 28th July 2008, 13:46   #1
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Default Renting out a Car Parking Spot

Hello all,

Does anyone here have experience renting out a car park in your apartment?

* How can one calculate the rent to be quoted? (Any sample quotes available from experience?)
* Is it necessary to make a rental contract?
* What are the other things to be taken care?

Thanks

Nirmal
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Old 28th July 2008, 13:52   #2
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I have let out my car park for rent when i was away. Yes, I did insist on a contract & collected one year's rent in advance (meaning i don't have to wait every month for a bank transfer of Rs.500).
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Old 28th July 2008, 14:01   #3
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You could also go through the 'association' of your apartment to rent it out.
I have taken an additional parking for rent and have taken it through the 'association' so no hassles.

I pay 300/- p.m. for the additional parking.
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Old 28th July 2008, 15:00   #4
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Quote:
Originally Posted by khan_sultan View Post
You could also go through the 'association' of your apartment to rent it out.
I have taken an additional parking for rent and have taken it through the 'association' so no hassles.

I pay 300/- p.m. for the additional parking.
Quote:
Originally Posted by esteem_lover View Post
I have let out my car park for rent when i was away. Yes, I did insist on a contract & collected one year's rent in advance (meaning i don't have to wait every month for a bank transfer of Rs.500).
Wow you lucky guys in B'lore. My additional office parking costs Rs 5,000 (officially) and Rs 8,000 (unofficially) for a month.

In residential buildings, especially the new ones that are coming up, parking space has to be purchased separately, and the cost can be as high as Rs 5 lacs for 1 parking.
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Old 28th July 2008, 17:01   #5
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A garage in cuffe parade went for 1.3 crores!
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Old 28th July 2008, 17:19   #6
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Covered car park costs Rs.800 per month now. Open car park costs Rs.300 per month. I am sure it is much more in other areas of chennai
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Old 28th July 2008, 17:28   #7
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Quote:
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A garage in cuffe parade went for 1.3 crores!
.. just Curious: what would be parked there? Imagine a m800 parked in that Garage .
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Old 28th July 2008, 17:41   #8
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Some owners lease out thier parking lots for around 1200 at my apartment complex in bangalore. Not sure of the modalities though.

I guess it should be similar to renting out a house.


regards
m800
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Old 28th July 2008, 18:24   #9
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Quote:
Originally Posted by nishantgandhi View Post
Wow you lucky guys in B'lore. My additional office parking costs Rs 5,000 (officially) and Rs 8,000 (unofficially) for a month.

In residential buildings, especially the new ones that are coming up, parking space has to be purchased separately, and the cost can be as high as Rs 5 lacs for 1 parking.
Quote:
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A garage in cuffe parade went for 1.3 crores!
No wonder Mumbai is ranked as the 48th most expensive city in the world!

Mumbai most expensive in India, 48th in the world
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Old 28th July 2008, 18:24   #10
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Quote:
Originally Posted by khan_sultan View Post
.. just Curious: what would be parked there? Imagine a m800 parked in that Garage .
It can be anything my friend. Its real estate in Mumbai, which is equivalent of buying a piece of moon in money terms. Although I strongly suspect in Cuffe Parade, there would be any 800s!
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Old 28th July 2008, 19:34   #11
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we pay Rs 2000/- as rent every month. break up is as follows:

1. Padmini - Covered Single Car Park with 24x7 security guard: Rs 1000/-
2. Palio - Open Air Comm. Car Parking (only Night): Rs 500/-
3. M800 - Open Air Comm. Car Parking (only Night): Rs 500/-

PS: we haven't rented out any car park.

i guess Rs 800/- per month is OK.
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Old 27th April 2012, 18:41   #12
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Default Re: Renting out a car park

I am planing to rent a covered car parking in an apartment near sarjapur road, Bangalore. What could a reasonable rate ?.
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Old 27th April 2012, 20:28   #13
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Default Re: Renting out a car park

Quote:
Originally Posted by swageo View Post
I am planing to rent a covered car parking in an apartment near sarjapur road, Bangalore. What could a reasonable rate ?.
Can you share which Apartment this is? May be PM me separately.

I have the insights of car parking rentals in this area for apartment societies that you can use.
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Old 27th April 2012, 21:26   #14
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Default Re: Renting out a car park

Quote:
Originally Posted by swageo View Post
I am planing to rent a covered car parking in an apartment near sarjapur road, Bangalore. What could a reasonable rate ?.
Have you rented the apartment?, or you are holding the apartment and renting the car park only? In this area the going rate is anywhere between 800-1500 per month, this depends on the apartment complex as well.
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Old 30th April 2012, 20:13   #15
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Default Re: Renting out a car park

Quote:
Originally Posted by mayankjha1806 View Post
Have you rented the apartment?, or you are holding the apartment and renting the car park only? In this area the going rate is anywhere between 800-1500 per month, this depends on the apartment complex as well.
Yes, got the apt but need additional parking. I found on guy with empty slot, but he is asking 2k.. which is on higher side.. This is in Kasavanahally main road. SJR Verity or HM Symphony. I too was expecting around 800 - 1000 range.
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