a parking space lease agreement is a document that is used when a company or individual would like to rent out a parking space to another company or individual. in a parking space lease agreement, the parties will have written down their expectations before the lease begins. generally, even while covering the unforeseeable situations, parking space lease agreements are relatively simple and need only contain the basics of the understanding between the parties. in a parking space lease agreement, although it’s important that both parties agree, it is normally the lessor, who is the person or company leasing out the space, establishing ground rules on liability for the lessee, who is the person renting the space.