Billboard siting and development expert Andy Goodman responds to questions from readers concerning leases. I’m working with a property owner on a renewal of a lease on a non-conforming billboard. The lease is grossly undervalued. What approach should the property owner take? The landowner is in a difficult situation because […]
Is a billboard lease valid if if contains an altered legal description and is improperly acknowledged? Yes. That’s the lesson of Engler v Franklin Outdoor. Here are the facts. Franklin Outdoor asked Michael Flynn if it could erect a billboard on Flynn’s property. James Franklin and Michael Flynn. walked the […]
Today out of home leasing and development expert Andy Goodman talks about some odds and ends which should be in a good lease. On rights of first refusal I try to protect myself so that that my Lease states, at the end of the Lease, if the property owner is […]
Today out of home leasing and development expert Andy Goodman talks about how to begin and end your out of home advertising lease. When should a lease begin? The lease begins when all of the government permits have been signed off. So in California you’ve gotten your Caltrans permit, you’ve […]
JD Supra published an article titled Outdoor Advertising: How Billboard Landlords Can Protect Their Property and Their Profits. The author counsels landlords on what to ask for in a billboard lease. Here are five things the author recommends together with Billboard Insider’s response. “A ground lease is the preferred means […]
Insider wrote this in A Billboard Lease is Not a License: Make sure your billboard leases have language which says the agreement inures to the benefit of successors and assigns. Your billboard lease should also contain a clause permitting assignment without consent. Some landlords will object. Next best is language […]
A billboard lease is not a license. That’s the lesson of Justin Management vs Metro Outdoor. Here are the facts. Justin Management subleased property to Metro outdoor to provide Metro the exclusive rights to install advertising on Justin’s property. The sublease included language saying that it would inure to the […]
Record your leases. Record your leases. Record your leases. That’s the lesson of Peck v Milford Hunt Homeowners. Here are the facts. On March 2, 1999 Riverview Chase Associates an entity in which Arnold Peck was an investor, sold a parcel of land in Milford, Connecticut to T&M Homes, LLC. […]
Last week we discussed the pros and cons of billboard lease financing. Today we discuss the pros and cons of bank and private loan financing. Banks usually have the cheapest loans because they have a low cost deposit base. And banks are often big enough to grow with you as […]
Beware of billboard lease termination clauses which allow the lease to be cancelled on a sale to a third party. That’s the lesson of International Outdoor versus Dix Road. Here are the facts. In 1998 the Donald Golden Trust leased property to Rite Media of Michigan for a billboard. […]
