Insider wanted to share feedback we received from readers on our lease increase article from yesterday. An out of home real estate manager agrees that you need to be careful about overpaying for a lease. I really like the article about lease increases in today’s headlines. When trying to renew […]
You need to keep your billboard lease increases to less than 2%/year. Here’s an actual lease Insider has reviewed. Payments are as follows: 2014-2017 $2,000 per year. 2017-2020 $2,500 per year. 2020-2023 $3,000 per year. 2023-2026 $3,500 per year. 2026-2029 $4,000 per year. A $500 […]
Today’s podcast guest Richard Rothfelder of Rothfelder Falick reviews the impact of the coronavirus on out of home contracts and 5 mistakes out of home companies make when they write out of home leases. On the impact of coronavirus on out of home contracts Coronavirus has generated a lot of […]
If you develop out of home advertising sites you need Billboard Insider’s Guide to Leases, Easements and Real Estate. The 130 page Guide tells you: How to use an out of home attorney effectively 21 things in a good out of home lease 11 things in a good out […]
Make sure your leases specify that your billboard is your personal property and may be removed at termination of the lease. That’s the lesson of Outdoor Systems Advertising v Korth. Here are the facts. Outdoor Systems Advertising (“Outdoor Systems”) had a lease for a billboard on some property in Michigan. […]
A city can’t use the building permit process to force a billboard down without paying just compensation. That’s the lesson of Lamar v Clinton Township. Here are the facts. Lamar Advertising owned a non-conforming billboard in Clinton Township, Michigan on land leased from Paul Turkal. The billboard lease had a […]
Cutting down trees without permission can get you into trouble. That’s the lesson of Blust v Lamar Advertising. Here are the facts. In Sept 1988 Lamar leased land for a billboard in Miami Ohio Township from James Weber. John and Jean Blust owned the land adjacent to the billboard site. […]
By Richard Rothfelder, Rothfelder and Falick Insider has published articles on providing prospective buyers of property encumbered by signs and leases with actual and constructive notice of the outdoor advertiser’s interests and including notice of the right of first refusal in billboard leases. Insider brought to my attention a […]
Insider recommends a right of first refusal clause in your leases to prevent Landmark Infrastructure or a competitor from suddenly becoming your landlord. Here’s a pretty thorough right of first refusal clause which Insider inherited in a billboard lease assigned to his company. Right of First Refusal: If, during the […]
You can protect your billboard leases from being extinguished by a non-governmental foreclosure by recording your leases or easements. Government foreclosure for unpaid taxes is another matter. Read this risk disclosure on page 7 of the rating documents for the $505 million Adams Outdoor debt issue: “If the fee simple […]
