Correct me if I'm wrong ...

[tenrec]

Sign seen today:
Residence Parking Only.
Am I right in thinking it should read "Residents Parking Only"

[atrollope]

you are correct

[NoMercy]

Yes you are right, Tenrec. The parking is for all the residents and not just for a residence.

[Old_Geezer]

No it means only your house can be parked there.
You might get away with a caravan.

[jno]

probably. It might just mean a given parking place belongs to a particular residence, though.

[Messi_Ten]

No one would make a mistake like that. "Residence" is correct.

[tenrec]

Thank you for all your responses.

[Hopkirk]

I can see the reasoning behind the statement 'Residence Parking Only', and can accept it is a possible way to describe the car park.

If one was being pedantic, I would say there should be an apostrophe if you phrase it your way:

Residents' Parking Only

[ladybirder]

Hopkirk. No apostrophe.

[Hopkirk]

Surely the parking belongs to a plural

[tenrec]

We don't kinow how many residents there are though, do we?