Property Owners Get the Most Out of Their Billboard Space with New Service
New service (www.outdoorbillboard.com) helps landowners with billboards on their property negotiate with the billboard companies.
(PRWEB) November 26, 2007 -- Property owners seeking to get the most money out of the billboard space on their property now have a new service to help them negotiate with billboard companies. Newly launched OutdoorBillboard.com new service is an alternative for property owners with billboard space.
OutdoorBillboard.com, the leading source for the Outdoor Advertising Industry, now offers an inexpensive service to determine the correct range of ground rent amounts for your property. Using over 20 years of experience, up-to-date rental amounts and industry standards on pricing, OutdoorBillboard.com can give property owners a realistic range of options to make an informed decision.
"Most of these landowners have no idea what a good ground lease for their billboard would be. The company basically gives them a low-ball offer, and they immediately accept it," said Frank Rolfe, an Outdoor Advertising Consultant.
In just two weeks since the inception of this program, OutdoorBillboard.com has helped several landowners and the most recent property owner is going to receive almost 300 percent more from their billboard ground lease. Often, the problem is that the landowner lacks any tangible information to use when negotiating.
The worst cases are when a billboard or other advertising structure has been up for decades and the ground rent has never increased in over 30 years. "Clearly, inflation, particularly on advertising rates, has been anything but flat" says Rolfe. "Ad rates in some markets have increase by 10 to 20 percent per year."
In addition to inflation, many locations make dramatic changes in desirability over a period of years. "Since many billboard leases are long-term, at least ten years or more, there are a large number of changes that can occur. A billboard that was once in a rural area may find a city has grown up around it over ten years, and an undesirable area can be re-gentrified. At the same time, a "hot" area ten years ago may have gone downhill. In most things in life, there is a daily, monthly or annual opportunity to reassess. But in billboards, you only re-evaluate every decade or so," said Rolfe. "That is what leads to such huge inequities in ground rent payments."
The client, however, does not always find a lot of money left on the table. "Our service is all about determining a range of values for billboard ground rent," said Dave Reynolds of OutdoorBillboard.com. "Sometimes land owners are already receiving the correct amount. Sometimes we even find that they are being overpaid, especially when there has been a big reduction of desirable traffic over the years. Our job is to help find where the client fits into the spectrum. Many of our clients are signing up to the service just to get a piece of mind before dealing with the large outdoor advertising companies."
For more information on this service or on the Outdoor Advertising Industry, visit www.outdoorbillboard.com or call 1-800-937-6151.
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