If it truly is a permanent easement, it would reduce Basis.  To avoid an IRS notice, you may want to report it as rental income then 'back it out' by an equal negative amount, resulting in a net of $0 rental income.

However, there seem to be various situations that are similar that would be classified as rent, so you may need to do further investigation for what the payment actually was for.

https://www.thetaxadviser.com/issues/2014/mar/kebodeaux-mar2014.html