Cell Tower Lease
If you are the owner who has leased out his land for setting up a cell tower, the following points are crucial for you to keep in mind when negotiating the cell tower lease with the cell phone tower companies or their agents.
- Handle all the negotiations on your own. A property owner who controls his property affairs with a tight fist is very likely to save thousands of dollars over the life of the lease that may go into decades.
- Always choose an attorney or CPA or Real Estate agent who has real experience in these matters sufficiently. For companies always have their agreements in legal telecom jargons that it is but a shrewd lawyer who is well versed with such terms can discern their real meaning.
- Do not trust the agents that call on you as they are only interested to extract as much profit as they can from you for the company they represent. Therefore always be on guard when dealing with them.
- Always maintain proper records of the dealings, communications and other necessary things hen dealing with these cell tower companies. You can benefit through these records in matters of rent and re-evaluation of property.
- Always keep abreast of the news on rental values for cell phone tower leases in the market. Never ever depend on ‘Cap Rates’ as these cap rates make false assumptions on the value of the property in the market.
- Do not fix your rate basing on the rates for other towers in the area. It is always possible that other towers in the area too have been negotiated by the agents for a decreased price. It is best to make enquiries out of your area, when needing any information on cell phone tower leases. It is very likely that the information you gather will not be influenced by agents or by the cell phone tower companies much.
- Never ever be cowed down to surrender your land to these cell phone tower companies or their agents. They might pressurize you to part with your land by taking the example of your immediate neighbours.
- In the same vein also do not agree to extend the lease on the land. Its always best to extend the lease when the lease prices in the market are high. Therefore keep a look out on those high-up prices.
- Always have a long-term plan for the land. It is a valuable piece of land that needs to be managed in the best possible manner without losing its value.
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