Points to Note About Cell Tower Leasing
Tower leases have become common nowadays with the need for cellular operators to expand their network coverage through erecting cell towers. These firms are always searching for buildings that are strategically placed or even land in rural areas to erect these cell towers. People can capitalize on this to earn some extra income by entering into this cell tower lease contract.
You need to learn issues to do with the laws and regulations regarding tower leases if you own strategic property before leasing your land to some of these renowned cellular operators. There are several things that the buyer would need to check on your land before he leases your property which includes analyzing the terrain regarding its suitability for erecting a cell tower, the local ordinances regulating the property especially security.
The property owner’s rights should be appropriately understood and explained in the contract before it is signed. Cell tower leases, usually state that the firm which has leased the land has some rights to that property. The property owner should understand his rights to the property, same to the cellular operator and the areas he has to ask for permission before using it.
Another key concern you should take into account before entering into a leasing contract agreement with a cell tower operator is to evaluate the land in terms of the rent it would fetch. Some of the factors that will guide you in determining the cell tower rates are whether the place is suburban, rural or urban. Properties that are strategically placed usually have a high market value.
Determining tower leases is a daunting task since there is no one source of information that can provide an entire database that can give you an exact price. But, there are a number of organizations that have been able to build a database in the last few years that has all of the estimates of the prices such leases go for on the market today.
Upon signing the contract and terms of the lease, the length of the lease, as well as the leasing company, is what is crucial to the landowner. The lease can be full term which means that it can last for an entire 20 to 25 years or feature five-year installments whereby the landowner can renegotiate the terms of the contract before renewal.
Even though the cell tower operator can have access the leasing site at any time, he cannot use the facilities of the buildings that are beyond where he operates before asking for permission from the owner.