 Billboard in my yard! (by Brad [IN]) Oct 11, 2008 5:47 PM
 Billboard in my yard! (by Mac [OH]) Oct 11, 2008 5:52 PM
Billboard in my yard! (by Sean [CA]) Oct 11, 2008 5:59 PM
Billboard in my yard! (by Irish [MD]) Oct 11, 2008 6:04 PM
Billboard in my yard! (by Wallace CPM [VA]) Oct 11, 2008 6:12 PM
Billboard in my yard! (by Brad [IN]) Oct 11, 2008 6:18 PM
Billboard in my yard! (by Mac [OH]) Oct 11, 2008 6:39 PM
Billboard in my yard! (by SAM [OR]) Oct 11, 2008 6:55 PM
Billboard in my yard! (by Corey [ND]) Oct 11, 2008 7:49 PM
Billboard in my yard! (by Sean [CA]) Oct 11, 2008 7:50 PM
Billboard in my yard! (by GEO [OK]) Oct 11, 2008 8:24 PM
Billboard in my yard! (by Sean [CA]) Oct 11, 2008 8:30 PM
Billboard in my yard! (by John [OR]) Oct 12, 2008 6:22 AM
Billboard in my yard! (by gevans [SC]) Oct 13, 2008 4:33 AM
Billboard in my yard! (by Brad [IN]) Posted on: Oct 11, 2008 5:47 PM
Message:
State Specific Question About: INDIANA (IN)
We just closed on a house yesterday (primary residence). The property is zoned C-2, and there is a billboard on the property. The neighbor (who owns adjoining business and his house), said that they do pay rent, but he doesn't know anything about it. What do I go about doing? I don't want to call them up and look like an idiot? Should I just get a real estate lawyer, or should I call them and see where it gets me?
Anybody every deal with a billboard on thier property? Any advice would be good. Thanks
--216.241.xxx.xxx |
Billboard in my yard! (by Mac [OH]) Posted on: Oct 11, 2008 5:52 PM
Message:
If there's a phone # call and negotiate. 800 is high end for a billboard. --67.140.xxx.xxx |
Billboard in my yard! (by Sean [CA]) Posted on: Oct 11, 2008 5:59 PM
Message:
They pay rent to whom?
What is the billboard attached to?
Sean --76.105.xx.x |
Billboard in my yard! (by Irish [MD]) Posted on: Oct 11, 2008 6:04 PM
Message:
Why did you wait until after closing to do due dilegence? --68.236.xxx.xxx |
Billboard in my yard! (by Wallace CPM [VA]) Posted on: Oct 11, 2008 6:12 PM
Message:
Ditto Irish - normally by SEEING the billboard, you would hav ASKED prior to closing so that this would not be a surprise --205.188.xxx.xxx |
Billboard in my yard! (by Brad [IN]) Posted on: Oct 11, 2008 6:18 PM
Message:
Irish / Wallace: This isn't an investment property. It was a bank repo I bought as-is for our primary residence. Actually everything is an investment, but anyhow. I wasn't concerned about the amount of rent I get. Getting rent out of a billboard wasn't a concern in deciding to purchase the property.
Sean: The billboard is attached to a giant pole, and is about 25' in the air. It is on a major county highway, not visible from any major state or federal highways.
Mac: Are you saying $800 / mo is top rent? --216.241.xxx.xxx |
Billboard in my yard! (by Mac [OH]) Posted on: Oct 11, 2008 6:39 PM
Message:
That's what I used to pay. They moved it around the area bi monthly. Expensive with I felt few results. Neither here nor there, get what you can. Good Luck! --67.140.xxx.xxx |
Billboard in my yard! (by SAM [OR]) Posted on: Oct 11, 2008 6:55 PM
Message:
There's gotta be a contract. It should be with the closing documents or permitted through your city/county.
Did you know prior to purchase the sign was there?
--75.170.xx.xx |
Billboard in my yard! (by Corey [ND]) Posted on: Oct 11, 2008 7:49 PM
Message:
My guess is they have an easement for that billboard which gives them rights to have it there for X number of years at X amount of rent per year / month.
Better check the deed. --209.243.xx.xx |
Billboard in my yard! (by Sean [CA]) Posted on: Oct 11, 2008 7:50 PM
Message:
Sorry for the delay.. The Cuban showed up to use the phone to call the home country for $1.25 a minute.. Now I am broke..
Ding, Ding, Ding... Foreclosure. REO sale. (check state law) here all leases are wiped out by foreclosure.. They have no lease!
Is it a large company that has the billboard?
We inherited one at a tax sale.. It is affixed to a commercial property that we purchased to hold with no other plans. Bare dirt with a 40 foot 2 legged monster sticking out of it..
Immediately, THEY tried to play hardball. A quick letter from our attorney set them straight, and they are now paying us $500 a month and we have the option of having the investors retail store listed all December long for free.
Check your state laws.. I bet they have no valid lease.
Sean --76.105.xx.x |
Billboard in my yard! (by GEO [OK]) Posted on: Oct 11, 2008 8:24 PM
Message:
I worked for a large billboard co. for 10 years. Most leases are for 10+ years. Just call the billboard co. tell them you own the property and would like to see a copy of the lease. If it's a good location they will work with you on the lease rate, etc. We paid lease amounts depending on the amount of revenue we could get from each billboard, usually about 15%. Some boards were as little as $300 a year, and some were as much as $15,000.00 a year. Location, Location, Location! --98.162.xxx.xx |
Billboard in my yard! (by Sean [CA]) Posted on: Oct 11, 2008 8:30 PM
Message:
Foreclosure invalidates the lease (in CA)
Sean --76.105.xx.x |
Billboard in my yard! (by John [OR]) Posted on: Oct 12, 2008 6:22 AM
Message:
A little extra income from the property. Always love the gravy. just call the billboard company and ask for a copy of the lease -- and the back payments.
Don't worry about feeling dumb. Sort of interesting the bank has no record of the billboard lease, though. --24.21.xx.xx |
Billboard in my yard! (by gevans [SC]) Posted on: Oct 13, 2008 4:33 AM
Message:
In SC, the foreclosure would void any lease. You can set your own terms, or make em move the thing. --141.129.x.xx |
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