I get calls regularly from people that want to attract a cell tower to their property. It makes sense, as it's usually stupid simple money with minimal effort required.
Unfortunately, though, calling on them is not the way the industry works. You don't go looking for them, they come looking for land- near you, if you're lucky.
If you are fortunate enough to have been approached about a lease, congratulations. Now it's time to dig in and do your homework.
HAVE YOU BEEN APPROACHED BY A TOWER COMPANY OR CARRIER TO LEASE YOUR PROPERTY?
We cannot stress enough the importance of the initial lease negotiations in determining the long-term value of your lease. Almost every wireless lease gives your tenant two great advantages right off the bat- they are for a long duration (usually a minimum 25 years) and the tenant retains the right to terminate the lease anytime during the term. Unfortunately, these are must-haves for the carriers and tower companies. Fortunately, there are ways to counteract this inequity, at least to an extent.
In another section, I told you about the ton of lawyers and negotiators and lease administrators and project directors and planners and lease optimizers and third-party vendors and more lawyers, working on behalf of the tower company or carrier that is your tenant or prospective tenant.
You need to level the playing field.
A well-negotiated wireless lease does not happen by accident. Your proposed tenant is trying way to hard to not let that happen. With the right knowledge and help, a lease proposal can be tweaked on behalf of the landowner both on financial terms and other, non-business terms, greatly improving the "long term livability" of the lease for the landowner.
We negotiate leases day in, day out for our clients. We know all of the wireless company's leases, all of their tricks, and our knowledge can become your knowledge.
With all due respect to your cousin's friend, the lawyer guy that once read over a friend's friend's lease, you need someone in your corner that does this every day.
Let me give you an example. Over the years have come to know a lot about many of the towers and leases near where I live, and have done work for quite a few of the property owners. One business owner has a tower on his property with three national carriers as tenants. They are getting just under $1,000.00 a month in rent. About two miles away, another business has a tower on their property with three national carriers, and they are receiving just over $4,000.00 a month in rent. Similar build out, 2 out of the 3 carriers were the same, similar traffic patterns around the properties. What was the difference? The property owner getting $4,000 + hired an industry professional (me) to help negotiate his lease. The other guy did not, and forgot to ask for revenue share for every additional carrier that went up on the tower after the first one.
Learn more. Give us a call.
847-295-6700