I have a property that would be a great spot for a billboard, and I have checked state regs concerning what I can and cannot do as the property owner, and as someone leasing to the billboard companies to do their turn-key. Any tips or advice on what to look out for in the deals, and how to negotiate with them?
One national company says we will do a 20yr land lease for approx 175-200 dollars per month, you dont touch anything.
Another says 10 yr 1000 per year land lease. They do everything as well.
Any thoughts? Thanks!
@Robbie J. Did you have any luck working with the national companies? Previously we had a portfolio of over 750+ billboard leases and found that there was great variation in leases payments and structures. Some of the key indicators are of course location, restriction on type of billboard that can be built (LED, # of billboard faces, height, size of billboard face, etc.), zoning/permitting requirements/process and the size of the company. Each market is different and it is common for each to have its own real estate manager that is sensitive to different pressure points when negotiating. Best of luck and feel free to send me a massage if there's anyway I can help.