Everyone focuses on cell tower lease rates; it’s understandable. Unfortunately, these aren’t the things you should focus on solely. You have to understand the whole idea of cell towers and what it means to house a town on your property. These towers are incredibly vital for the expansion of the internet, but there comes a point where doubt starts to creep in. For some property owners, they worry about the cell towers being useable in the upcoming years. So, will cell towers become obsolete?
The Growing Demand for Cell Towers
Over the next decade or so, there will be tens of thousands (and probably a lot more) new cell towers built. The reason is simply because the demand is growing at an exponential rate. In simple terms – it’s unlikely the majority of towers will become obsolete. In rare cases, the tower will be replaced with a newer one. However, even if the tower is obsolete, it’s unlikely to happen for a considerable period yet; of course, that doesn’t mean to say it can’t happen. Right now, you need to ensure the cell tower lease rates match the demand of the area.
Changing Times
In reality, the need for cell towers will increase but that doesn’t mean to say every tower will be required – especially in areas that are already with excellent coverage. So, it might be possible that one day the tower on your property isn’t worth as much or needed. That could drop cell tower lease rates or even make them obsolete. However, it is very unlikely to happen within the next few years. Often, wireless companies intend to use the tower for the duration of the lease. That means you should still have income for life.
Cell Tower Lease Rates Can Vary Depending on Demand
It’s important to understand that your cell tower lease rates will vary. Some property owners will get a higher value on their land than others; it depends on several factors. For instance, if there is little wireless coverage in your area, then it may be possible to get a higher rate. On the other hand, if there are lots of other cell towers in the area, the fee will likely be smaller. So, it’s important to consider these things before you get annoyed at the fee. Some companies aren’t trying to short-change you, but rather, they believe that’s the value of the cell tower.
The Difficulty of Cell Towers
Wireless communication has become a necessity of modern life and it has caused the expansion of connectivity and the web. The number of cell towers has tripled over the years too; however, that does leave the door open to them being obsolete at some point. Of course, while the need for cell towers will continue, some may – eventually – become obsolete. For the moment, cell tower lease rates are stable, so that’s a plus point.