Information About Cell Tower Leasing
In case you have a building or land that you want to lease to a cell tower company to erect a tower, you need to sign a tower lease contract. 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.
Before going into such a deal, it is imperative that you do some research on the laws and regulations governing these tower leases. 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, without exception, indicate that following the signing of the contract the cell tower operator has to enjoy certain rights over the land you have leased to him. This means that the property owner should know of his right, that which is conferred to the cell tower operator and the rights which needs to be agreed upon with regards to some of the areas on the leased land.
Evaluation of the land is the other major concern that you will have to take into account before leasing it to the cell tower operator with regards to the amount of rent it would fetch if you were to rent it on a monthly basis. Some of the factors that will guide you in determining the cell tower rates are whether the place is suburban, rural or urban. If the location of the land is unique, the price of the lease will also go high.
Ascertaining the cell tower leasing rates is actually very difficult because information with regards to this is not readily available. 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.
The essential bit that these property owners can bear in mind is the period the tower lease will last and the cellular company that is leasing it. 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.
After signing the cell tower lease contract, the owner can access the site and use the resources only in the areas that are stipulated in the contract.