Car Parking can be an integral consideration when searching for your next office space. Below we have provided answers to the most common questions we receive from businesses on the hunt for their next home.
It should be noted that the following information covers most commercial properties and parking providers within the Brisbane CBD, however, each provider/landlord has a different way of operating. It is recommended to get in touch with your agent if you wish for specific information regarding a properties parking terms and availability.
How do I pay for my Car park?
As the occupier of a commercial car parking space, you will receive an invoice once a month from either the landlord or your parking provider. In the instance your car park is included within the terms of your commercial lease, this cost will be added to your monthly invoice to be paid together. If you have organised a park through a separate entity parking provider, even in the instance that this car park is within your building, you can expect to receive a separate invoice from the provider themselves. These invoices are issued on the same day of every month, and it should be noted that costs are exclusive of GST.
Car Parking rates, generally, are at a fixed cost set by landlords with little room for negotiation. Parking is often included within the terms of the lease as an additional option rather than a point of negotiation. Rental rates may fluctuate as a result of rental increases therefore on a multiple year lease, the rate in which you are expected to pay for the space may be subject to growth at the rental increase rate established within the lease for the property itself.
For information regarding rental increases and all other commercial terms please see the following link to our Glossary; https://caden.com.au/insights/glossary-of-terms-heads-of-agreement/
If you have established a parking space through a separate entity parking provider, they will often reserve the right to raise the cost over time. This is often provided with a minimum of a months notice (subject to the agreement). If you do not agree to this increase, you will have the right to terminate the agreement through written notice. If you fail to respond to the increase notice, the parking provider may be within their right to assume you are agreeable to the new rate.
Parking providers will also often ask for a security deposit. This may be put toward any costs incurred by the provider if you breach the Agreement or toward any amount unpaid by yourself.
Are there any hidden costs or payments involved in securing a car park?
Outside of your monthly rate, fees and payments attached to occupying a car park can include (but not limited to);
- Service fees
- Establishment fees
- Security deposit
It is best to speak with your agent regarding these costs and they will be able to provide some clarity and point you in the right direction.
What do I do if the Car Park isn’t owned by the Landlord?
On occasion you will see commercial towers with car parks that are owned by a separate entity. In this instance, car parking is to be organised separately through the parking provider rather than the landlord you are dealing with for the formal lease. It is best to ask your agent on tips for proceeding on this and they, in most cases, will be able to provide you with information regarding available spaces and cost.
When can I utilise my car park?
In most instances, when occupying a parking space on a monthly basis, you can access your park 24 hours a day – 7 Days a week (Including public holidays)
Is there a limit on how many Car parks I can secure as part of my lease?
The number of parks your business is entitled to take within a CBD building may be dependent on the proportion of space you occupy within the building. When parking within a building is scarce, landlords will often limit tenants to a certain number of parks based on the overall size of their tenancy. This is less likely to be a factor in:
- Buildings with high vacancy profiles
- Buildings that feature a larger parking facility and can cater for more demand.
How secure and safe is my car park?
There are several rules and regulations that car parking facilities must follow to ensure they are above board. These are in place to protect both the vendor and the user. On top of this, regardless of regulations, it is in a landlord’s best interest to ensure that their car park is safe, secure and user friendly.
All CBD Car parking facilities utilise security systems or personnel to protect users’ vehicles and the users themselves.
Can I use a commercial car park space as visitor Parking?
There is nothing stopping a business from taking a space within a car park with the intentions of using this space for visitor/flexible parking. There are no systems in place to allow guests to enter the park without first providing their access pass. This may be a larger consideration for client facing businesses or businesses with daily visitors/patients.
Does the size of my vehicle matter?
Yes. It is important to establish with your agent/landlord prior to your agreement as to whether your vehicle is suitable for the park you intend to occupy.
For any questions please reach out to one of the Caden team.