Legal Question in Real Estate Law in California
bill board sign lease agreement
We leased out an existing 12'x25' billboard sign on our property shortly after buying the
property. I had been told some sign owner's were paid $2000. a month but could get no prof. The leasing co. had paid the elderly previous owner of our property $400.00 a year. This seemed unfair to me. The company ''generously'' agreed to raising the fee to $800.00 a year. I finally signed their 5 year contract which expires Dec. 2002. I now can get proof of $1000. a month being paid for another sign. Is there a way to get this company, one of the largest in the nation, to pay fair rent for my sign? The sign is on a busy highway with great exposure. Thank you for your help.
1 Answer from Attorneys
Re: bill board sign lease agreement
You are probably stuck with the contract you signed until renewal time comes. In order to break the existing lease, you would have to establish fraud, and this could be difficult, since billboard sites vary substantially in value.
One way to test the strength of a possible legal action might be to inquire of competing billboard companies what THEY would pay for your site. If it is substantially higher and they will put it in writing, you could see if a lawyer would take the case on contingency or for a flat fee. Then you could decide whether to pursue the matter.
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