How would you like an additional income on your Property?
Have you ever thought about leasing a billboard space on your property? It’s a great way to generate additional cash income.
I am Thomas Gunter a 46 year veteran of the outdoor adverting and today owner a billboard development company named Billboard Brokers of America, LLC. Leasing your property to a billboard company is a great way to increase your properties revenue stream. You may want to consider leasing a billboard location to a billboard company for the placement of a highway billboard. Here are a few tips you need 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 billboard sign’s footprint requires an approximate 5’ x 5’ space for a standard mono-pole billboard structure, 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 billboard site’s 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. In the city you may have street viewers and slower traffic to be taken into consideration. Times Square is a great example there you 1,000,000 plus viewers a day and 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 o the billboard company and the advertisers they will be selling the ads to. This is a very important part of the billboard evaluation equation.
3) Property Zoning. Know what your possible billboard location’s property is zoned 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. Save time know what your local and state laws are governing billboards for your property’s location before you call the billboard company. Call the local building and planning office, they can be of great help. Ask for the person in charge of the outdoor advertising planning about the rules governing off site billboard advertising. If the highway you are planning on leasing your property on for a billboard is State or Federally funded Highway such as an Interstate or US highway also check with your state’s Department of Transportation’s, ask for the 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.
Property buying process is quite complex subject that requires a depth knowledge and deep understanding of various properties, real estate laws and documentations. There are so many things that must not be overlooked before finalizing property investment and in those necessary things, Real estate property valuation is one and an undeniable factor for sure.
It is mandatory for every buyer to know the value of a property on which they suppose to buy. After knowing the exact value of a real estate property, a person can make his or her best purchase. Especially, when it comes to property loan matters; real estate property valuation becomes a crucial factor by which lending institutions or other banks pass the requested loan amount.
In this way, there is a great importance of real estate property valuation in property buying process and knowing the exact ways of valuation of a property is a common concern of many investors of this time. Basically, this process is conducted by a particular valuation firm. While valuation process, it includes the overall condition of a property and recent sale of same types of properties in similar area.
A property valuation can affect property investment in a great extent as it helps determining if a property is qualified for a particular home loan amount. Therefore it plays a great role in sanctioning a home loan by banks or loan institutions. Apart from being a necessary part for sanctioning loan amount, real estate property valuation has a great significance in various processes that are as below:
* Mortgage Insurance of Lenders
* Grant for First Home Owners
* Concessions for government sponsored institutions
The Mortgages insurance of lenders protects lenders from financial crisis when they end up their mortgage loan for defaulting. In this insurance, a lender should cover insurance after borrowing up to 80 percent at least of your property and to calculate the total premium, an LMI calculator is generally used.
Grant for first home owners is a national level scheme which is managed and funded by territories and states. The amount is varied as per particular state and to know the exact amount, consulting a broker of mortgage is the best option. To get qualified for this grant, you must have a sale contract or pre-approval. To apply for this grant of first home owners or any other government sponsored grants, taking help of a broker would benefit you and make it quite easier. A broker would guide you entire process of applying and processing your application for such concessions. This is quite time saving and effective way of property investment for sure.
Therefore, all these are cases in which property valuation is necessary for getting advantages of it and thus, you can certainly make astonishing property investment for sure.