Renting Parking spot

[mrbleuu]

I have a secure underground car park within a strata complex in a popular location. I am looking to rent the parking spot. There are no visitor parking spots in the complex.

I am not concerned about lost rent but more damage by/to the tenant when using the space. Do I need to get insurance for this or does strata insurance cover this?

If I do need insurance, are there any companies that do insurance for this that you can recommend?

 

[Kinnon Bell]

Are you able to rent out your parking spot? Some body corps/buildings don't allow it.

 

[mrbleuu]

I emailed them this morning to check, but I understand others in the building are renting theres out based on ads stating "please let us know if there are more parking spots" in this building for rent.

 

[mrbleuu]

Anyone have any thoughts?

 

[DaveM]

Your LL & contents insurance should carry PL insurance so you are covered from that angle (you do have insurance yes?). Owners corporation will also carry insurance.

Tenants car, thats their own responsibility to insure.