All 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. 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.
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. 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.
The property owner’s rights should be appropriately understood and explained in the contract before it is signed. This means that the cellular operator has some rights to the property once the leasing contract is signed. 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. 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. 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.
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 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.
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.