Everyone wants reasonable cell tower lease rates for their land and it’s not impossible to earn a decent wage from this. Cell towers are in demand as technology expands and the need for mobile connectivity grows. There’s little doubt that cell towers will continue to pop up all over the countryside and if your land is chosen, you never know where it could lead to. So, what things do you need to know about cell tower lease contracts?
What You Need to Know When Dealing with Cell Tower Lease Contracts
- The Money is Good – If – The Right Deal is Done
- There is Always Room to Negotiate
- The Small Print Often Contains Hidden Clauses or Terms
- Remember, You’re Not an Expert in the Industry, The Phone Companies Are
- Cell Tower Lease Rates Are Determined by Several Factors
As said, cell tower lease rates can vary and are often dictated by what the phone companies believe worthy for the land. Of course, there are deals to be had and with the right consultant on your side, you can really prosper. However, contracts for cell towers are often full of jargon and technical terms that are difficult to understand. That is why it’s essential to speak to someone who is impartial and an expert in the business. A cell tower consultant can help you understand the contract as well as negotiate on your behalf.
You Need to Research the Feasibility of a Cell Tower on Your Property
Most companies will conduct their own feasibility study of your property and land; that will determine whether they make you an offer or walk away. If the companies are interested in the land still, you must seriously consider whether it’s feasible for you. For instance, if there is a sizeable piece of your land that is being taken over by the cell tower, is that feasible for your future? What if you wanted to build on the land? While the cell tower lease rates might seem great, they may not match up with your intentions in the next few years. Read more!
Do You Plan to Sell Your Land in the Years Ahead?
Putting aside the cell tower lease rates for one moment and think about your long-term plans. Do you want or plan to sell your property at some point, and if so, how will the cell tower impact the value? What happens if you need to sell the property during the duration of the cell tower contract? While you mightn’t have any immediate plans, that doesn’t mean to say there won’t come a time when you unexpectedly need to sell. So, you need to consider that, along with many other scenarios.
Be Smart Before You Sign Any Agreements
It’s easy to sign on the dotted line and hope for the best, but cell towers are tricky things. There are lots of hidden terms, clauses, and are full of technical jargon to confuse you. That is why you need to stop and get to know what is said in the lease contract. If you can’t understand it, ask a third-party attorney or consultant to explain. This will make the lease easier to understand and you might be happier signing too. Of course, you want the best cell tower lease rates to ensure it’s beneficial to your family. For more details, visit: https://www.marketcommonclarendon.net/7-steps-to-get-a-cell-tower-on-your-property/