“Have you ever thought about leasing a billboard space on your property? It’s a great way to generate additional cash income”
Thomas Gunter a 46 year veteran of the outdoor adverting and today owner of Billboard Brokers of America, LLC announces a great way to increase the revenue stream on your real estate. Property owners may want to consider leasing billboard locations to billboard companies for the placement of highway billboards. It can be very lucrative. Here are a few tips you should know to help you get started.
When renting a billboard space on your property to a billboard company, you have several different options ranging from lump sum cash payments, to monthly payments, or combinations of both. The sign’s footprint requires an approximate 5’ x 5’ space with standard monopole steel structures so the impact to your property is very minimal and the return could be great.
The property owner normally has the option to restrict advertising displays from adult entertainment ads, alcohol or tobacco ads, or any ads that would compete with a business at the sign site location. In addition, the billboard company normally pays all Tangible Property taxes and permits associated with the sign structure.
5 things you should know about your property before you call the billboard company.
1) Visibility. Do you have a possible billboard location on your property? First you need good visibility from the highway or street where the advertising will be visible from. A normal highway billboard location has a 4 to 5 second read from the highway for viewers. 3 to 4 second billboard reads can be used but 5 are better. City billboard locations are more complex. You may have street viewers and slower traffic that has to be taken into consideration. Times Square is a great example with over 1,000,000 viewers a day. Most are pedestrians.
2) Traffic Count. Does your billboard property have a good traffic count? That is going to be very important in evaluating what your future billboard location’s value is and determining its true value. This is a very important part of the billboard evaluation equation.
3) Property Zoning. Know what your possible billboard location’s property is zoned is before you get started. You are going to need this before you consult the billboard company along with its physical address and legal description.
4) Billboard Government Regulations. Know what your local and state laws are governing billboards for your property’s location. Call the local building and planning office, they can help. Ask for the person in charge of the outdoor advertising planning. If your highway is a State or Federally funded Highway such as an Interstate check with your state Department of Transportation’s outdoor advertising division.
5) Billboard Separation. Each city, county and state has their own set of laws governing the distance between each off-site billboard location. Off site billboards are billboards that advertise business in a location other than the location where the property where the proposed billboard is to be located.
Hope this article has been of some help in getting you started