Acquiring land via a tax foreclosure doesn’t give a company ownership of a billboard. That’s the lesson of Outfront vs CYA Properties. Here are the facts: In 1971 OUTFRONT leased vacant land in Wayne County, Michigan to install a billboard. The lease was renewed several times, most recently in 2009. […]
Landmark Infrastructure released financials for the third quarter of 2020. Revenues increased by 10% to $14.2 million. Net income increased from $701,ooo in the third quarter of 2019 to $1.5 million in the third quarter of 2020. The company added 23 new leases and easements during the third quarter of […]
Another city is raising money for city services by leasing land on city property for digital billboards. On Sept 1 Kingston Mass approved two OUTRONT Media billboard leases generating approximately $200,000/year in lease payments for 25 years. The billboards will be on town-owned parcels at 8 Cranberry Road and 60 […]
Avoid complicated consent to assignment language in your billboard lease. That’s the lesson of Atkins Media Group vs Del Val Realty Group. Here are the facts: Atkins Media entered into a lease with Del Val Realty Group to permit Atkins to put a billboard on land owned by Del Val. […]
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 […]
