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. 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 is a good source of income that people owning such kind of property can utilize.
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. Some of the aspects the company leasing the property would have to consider is, the suitability of the land when it comes to erecting the cell tower, the security of the area and measures in place to mitigate any insecurity.
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. 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. Sometimes, the unique location of the land in terms of zoning also makes a difference.
Ascertaining the cell tower leasing rates is actually very difficult because information with regards to this is not readily 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.
How long the lease will last, and the cellular company leasing the property is what matters most to the owner of the land or building. 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.
Though the Cell tower company has full access to the leased property or land, he cannot access the areas that are not within their area of operation without the owner consenting to it.