Points to Note About Cell Tower Leasing
In case you have a building or land that you want to lease to a cell tower company to erect a tower, you need to sign a tower lease contract. Telecom firms are always on the lookout for strategic locations in rural areas and buildings in cities. 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. 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.
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. 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. Sometimes, the unique location of the land in terms of zoning also makes a difference.
Determining tower leases is a daunting task since there is no one source of information that can provide an entire database that can give you an exact price. However, some organizations out there are trying to mitigate this challenge by updating these databases and also coming up with new ones that individuals with such pieces of property can go through to get an idea of how much these tower leases cost.
Upon signing the contract and terms of the lease, the length of the lease, as well as the leasing company, is what is crucial to the landowner. The contract of the cell tower lease can be either full term which means that it will expire after a period of about twenty-five years or partial meaning that it will require renewal after every five years until the contract expires.
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.