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. With telecom giants being always on the lookout to build their cell towers, they have gone to lease land from people in the countryside who have large tracts of land. This has also been beneficial to those people since it is also a good source of income to them.
Sitting on a potential tower site entails that the proprietor educates himself on matters to do with laws and regulations with regards to leasing once a buyer approaches him. 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.
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. This means that the cellular operator has some rights to the property once the leasing contract is signed. 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.
It is a good idea for the building or landowner to evaluate it with regards to the income it might bring if it was rented instead of leased. The cell tower rates will all depend on whether the location of the land is in an urban area, rural or suburban, the value of the land in the market currently, etc. Properties that are strategically placed usually have a high market value.
Ascertaining the cell tower leasing rates is actually very difficult because information with regards to this is not readily available. However, some organizations out there are trying to mitigate this challenge by updating these databases and also coming up with new ones that individuals with such pieces of property can go through to get an idea of how much these tower leases cost.
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 go for up to 20 to 25 years or installments of five years where the owner of the property can decide to renegotiate the contract he had signed before renewing it for another five years.
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.