Important Terms In Cell Tower Leasing
A cell tower company is usually a company that provides a tower for cell phone providers. There is smooth cell communication in areas where there are many cell towers It is not uncommon to find several cell providers sharing one tower.
Cell tower lease consultant is a person who will help guide you before leasing your land to a wireless company or even a tower lease. The cell tower lease consultant is an experienced negotiator of cell tower leases because they understand how much they are worth.
To avoid any headaches when getting into a cell tower lease agreement, involve a cell tower landlord advocate. Property owners should take advantage of advocates who know the laws concerning cell towers in different regions.
If you receive rent money for a cell tower placed in your property, you are a cell tower lease landlord Cell tower companies look for strategic locations where they can provide better services to their customers.
Depending on the contract between the leasing company and property owner, a onetime compensation known as a lease buyout is one method of payment.
Any valuation will consider what your property is worth, the market price for a cell tower and location of the intended cell tower. A good valuation means the company buying the cell tower lease and the property owner get a fair deal.
Property owners should ensure that they get written contracts for their own protection when dealing with the lease company. Consultants help to simplify the legal jargon in contracts and explain the rights of the owner in a simple way.
Based on experience, one can get a better deal during a lease renewal because it is a chance to start again. A consultant can help you get more rent at this stage.
Property owners are better off taking an annual escalator for rent payment than a term escalator which is a fixed rent rate for a number of years.
As a property owner you may see a cell company seeking to upgrade its rooftop cell site coverage. A property owner of such a rooftop should ask to see the drawings of the intended changes. Before any changes are made a consent letter has to be signed by the property owner.
Cell companies look after their own interests and may not be concerned with yours so always consult a lawyer for any contracts and consent letters involved. Don’t think that you don’t have options when a cell tower company comes knocking but stay open to other options. Consider your method of rent payment carefully before you sign anything. You can either agree to an annual payment or a term payment.