The billboard permit, which usually takes one week to obtain, is issued usually by a state’s Department of Transportation, but the surprise is that whoever makes the application gets the permit. The result? You can be assured that you are dealing with a secure and reputable company. Of course, it’s not quite as easy as tossing a billboard in your cart and heading to the checkout lane. Joining the world of OOH, and constructing ad space can be a lucrative decision that can provide you with steady business for years to come. Just focus on your own business endeavors and let us help you increase your bottom line profits. If the billboard company fails to sell the space for a month or two, you should still get paid in full. President Dwight D. Eisenhower, paved the way for the 1965 act by spearheaded the Federal Aid Highway Act, which built a network of toll superhighways as a way of providing more jobs for people out of work. Billboards built within this 660 ft. distance must be at least 1500 ft. from the next nearest highway billboard and 500 ft. from the nearest street billboard. Just be aware of the drawbacks involved before jumping into an official agreement. Buying a billboard takes some know-how. Email:Robert@louisianacommercialrealty.com. For about $700,000 you can buy or build an LED billboard that will earn you $40,000 to $80,000 per month when you lease it for advertising, depending upon its location. We have been in business for over 30 years and have over 350 billboards around the state. Whether you want to use your billboard for advertising purpose to promote and market your business or you want to lease it to tenants, you can generate profit either way. there is a billboard sign on my property and the owner is refusing to pay rent on it. We have a billboard on our property. It’s possible to find a quality location for a new billboard, but it’s certainly not easy. The billboard company opposed the taking arguing that the billboard was real property and, as a result, the NJTA was required to enter into bona fide negotiations to purchase the billboard prior to filing suit. Change ), You are commenting using your Twitter account. He said he had a ten year contract with the previous owner but he will not or cannot provide proof of it. Check out DOmedia, host to the largest database of OOH vendors in the US, and start planning your next OOH campaign today! Robert Hand, president of Louisiana Commercial Realty explains what is wrong about the billboard process: Since a billboard permit prevents any other billboard from being erected within a certain space, billboard companies have an incentive to get several adjacent landowners to agree to give them permission to file a permit. The previous owner commited suicide so the property went into foreclosure. Building a billboard on your property. We are very interested, but what is a fair rate? Change ), You are commenting using your Google account. “Beauty belongs to all the people. Fees depend on traffic counts, but can start at $500 monthly in rural areas and $1,500 monthly in the city, or a lump sum from $50,000 to over $1,000,000. Managing a property where a billboard is being built. Finally, billboards that serve commercial locations as signage are regulated completely differently, and much more loosely than typical billboards. There are legal restrictions, zoning requirements, and financial obstacles that […] He hasn't received When TurboTax asks what type of rental this is, choose raw land. We own some commercial property on a very busy highway. There are legal restrictions, zoning requirements, and financial obstacles that must be considered before any billboard construction can begin. If your property happens to be a quality location for a new billboard then you are in luck. It all started in 1965 with President Johnson. Renegotiating a billboard lease on your property. The nearest towers are located approximately 15 miles north and 20 miles south of my property. ( Log Out /  Ask the landowner for permission to put a billboard on his property… Instead, it will be governed by city and state zoning laws, which are considerably less strict than the rules that apply to highway billboards. Unfortunately, most of these ideal locations are already taken so finding new ones can be a difficult task. Buying one of those large billboards scattered along the country’s highways and streets gives you a way to make money selling the space to companies that want to advertise their products or services. Your custom Lease Analysis will be researched, analyzed and prepared within 20 days of receipt of payment. It also required certain junkyards along primary highways to be removed or screened and encouraged scenic enhancement and roadside development. On my drive to work, I see a host of billboards trying to convince me to switch doctors, refinance my mortgage, and listen to public radio. For some property owners with prime real estate, rental payments from billboard developers can reach as high as a hundred thousand dollars a year (or more! Change ), You are commenting using your Facebook account. Contact local organizations to let them know that your billboard space is for rent. Let’s get started. “This bill will enrich our spirits and restore a small measure of our national greatness,” Johnson said at the bill’s signing ceremony. Also, take some sort of thank-you gift to the landowner or tenant to show your appreciation for letting you tear up their property for a few days. the land is leased by a company and we get a 1099-misc. The cornerstone of the initiative would be the Highway Beautification Act of 1965, which called for control of outdoor advertising, including removal of certain types of signs, along the nation’s growing highways. Put a notice on your billboard that its' advertising space is for sale. As others have indicated, you are more apt to get away with this if the property is zoned either commercial or light industrial. “While getting a billboard on a major highway will get you the most traffic, it may not be the most targeted to your audience because you will be getting a lot of tractor trailers and travelers along with commuters. And so long as I am President, what has been divinely given to nature will not be taken recklessly away by man.”  The Highway Beautification Act was actually the pet project of the first lady, Lady Bird Johnson. the research has been conducted and a written lease has been written and presented to us for 1k/mo, 20 years + 20 yr option, with 10% rate increases every 5 yrs. The best thing about having a billboard on your property is that you don’t have to do any of the work. Not everyone can build a billboard on their own personal property, but everyone should have access to OOH. If you own vacant land with no income but high property taxes, getting the extra monthly income from a billboard can allow you to hold the land forever, or until development flows to your area and WalMart makes you an offer you can’t refuse. 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