Los Angeles Parking Lot License Bond Guide
If you’re opening a parking lot or garage in Los Angeles, California, you’ll need a surety bond.
Bond Overview
- Purpose: To guarantee payment of parking taxes and compliance with city regulations
- Who Needs It: Parking lot and garage owners
- Regulating Body: The City of Los Angeles
- Required Coverage: $10,000 for 1 lot, $50,000 for multiple lots
- Premium Rate: $100 or $500, respectively
Learn all about the bond requirements and process in this guide.
What Is a Los Angeles Parking Lot License Bond?
A Los Angeles, CA parking lot license bond, also known as a Parking Occupancy Tax Bond, ensures lot owners comply with city regulations. It also acts as financial security if owners fail to remit Parking Occupancy Tax payments.
The City of Los Angeles requires this bond for all parking lot license applicants.
How Much Do Parking Lot Bonds Cost in Los Angeles?
A City of Los Angeles parking lot license bond costs a flat rate of $5 per $1,000 in coverage. Your bond amount will depend on if you purchase a bond for a single lot or a blanket bond covering multiple lots:
- $10,000 Individual Lot Bond: $100 Premium
- $50,000 Blanket Bond for All Lots: $500 Premium
Click below to buy your bond in minutes!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Parking Lot License Bond?
The City of Los Angeles, CA requires this bond for any business or individual operating a fee-based parking lot.
A parking lot includes any lots, contiguous lots, or parcels of land where eight or more motor vehicles are parked at any time.
If you have five or more lots, you can choose to get a $50,000 blanket bond to cover all lots under your ownership instead of $1,000 individual bonds per lot.
Other California Parking Bonds
Building owners, managers or small property owners who rent at least one parking space to non-residents in Los Angeles or San Francisco, California need a separate California Parking Tax Collection Bond.
If you operate a valet service in Los Angeles, you’ll need the Los Angeles County Valet Parking License Bond.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your City of Los Angeles parking lot license bond instantly online. Just enter your information and checkout in minutes.
We’ll email you the bond shortly after purchase. Be sure to file the bond with the address below:
City of Los Angeles
Office of the City Administrative Officer
Risk Management
200 N Main St
Room 1240 CHE
Los Angeles, CA 90012
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a City of Los Angeles Parking Lot License Bond Work?
As with all surety bonds, a parking lot license bond creates a legal contract between three parties:
- Principal: You, the parking lot owner filing the bond
- Obligee: The City of Los Angeles requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding Los Angeles Municipal Code § 103.202 and paying all parking occupancy taxes.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
To renew your parking lot license bond, simply pay your renewal invoice when prompted. We’ll begin contacting you by phone and email 90 days before the expiration date.
