In his last column out of home leasing and development expert Andy Goodman talked about billboard leasing trends.  Today Andy talks about what to do when you get a condemnation letter.

What do you do when you get a condemnation letter?

The first thing I would do is contact my attorney.  Billboard attorneys here in Los Angeles know exactly what to do with these notices.

The next company I would contact is an expert in billboard appraisals.  Someone like Donna Desmond of Donna Desmond Associates and or Paul Wright of SignValue.  I would have the appraiser start working on a valuation for that billboard.

The last thing that I would do is to call my property owner. As a Lessee, the Lease you have with the Lessor must anticipate that one day you will receive a condemnation letter from a government entity.  I always make sure the billboard lease specifically allows me to proceed with a condemnation award independent of my landlord.  I also make sure that the billboard lease has language which states that the lease stays in effect until the condemnation is resolved. With a solid lease in place that addresses condemnation both the property owner and the billboard company can make their own claims.

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