Lease Extension SBA

by William
(Michigan)

SBA has had a lease on my property for almost 25 years. AT&T and Sprint are operating on it and I know 2 fiber lines have been ran up to it in the last couple years.

Currently we get an annual check, the last one $9200 in 2015. Our only increases have been cost of living based on government observations.

I have no desire to sell the lease which seems to be what SBA wants. I can see agreeing to a 30 year extension. The current lease is up in 2019 and I'm curious about what to agree on.

This a small town country site but the county offices are here and it is a very high elevation for this county.

My driveway is their only easement. They built it up originally to bring in the building and it eventually eroded to a pile of rocks. I spent 4,000 dollars to rebuild it and SBA wouldn't cover any of the cost. So it seems they aren't interested in any upkeep of the land.

I have been told by several people including a property lawyer that the lease has always been paying us too low and now is the time to get that rectified.

Any advice would be appreciated.

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Feb 15, 2016
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Let SBA know you expect to be reimbursed for the erosion of the driveway.
by: Stephen

If your site is currently undervalued, and SBA has until 2019 to avoid paying you in increased rental amount, they aren't going to be in a big hurry to get back to you. They may be required to maintain your lease and it could be a default issue. Give us a call.

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