Points to Note 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. Telecom firms are always on the lookout for strategic locations in rural areas and buildings in cities. This has also been beneficial to those people since it is also a good source of income to them.
Before going into such a deal, it is imperative that you do some research on the laws and regulations governing these tower leases. Particular elements which need to be assessed prior to granting the lease are analyzing the terrain concerning its suitability for its purpose, the local ordinances governing the property and the safety measures that have been put in place.
It is both Imperative to be aware of the rights of the owner and make sure that all these are explicitly mentioned in the contract. 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. The prices these towers can go for depending on their locality for example if they are in an urban area, rural or suburban and the current market value. If the location of the land is unique, the price of the lease will also go high.
Information regarding tower leasing is hard to find since the databases are either outdated or are not easily available. However, a few organizations have gone the extra mile to collect information and assemble a database over a period which has made it easier for people to acquire estimates of how much tower leases cost depending on where the land is.
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.