Overwhelmed by the Complexity of Leasing? This May Help
All 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. 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 has also been beneficial to those people since it is also a good source of income to them.
Sitting on a potential tower site entails that the proprietor educates himself on matters to do with laws and regulations with regards to leasing once a buyer approaches him. 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 rights of the cell tower operator and the owner of the land or building have to be well-explained and put down in writing on the contract. Cell tower leases, without exception, indicate that following the signing of the contract the cell tower operator has to enjoy certain rights over the land you have leased to him. 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.
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. Some of the factors that will guide you in determining the cell tower rates are whether the place is suburban, rural or urban. If the location of the land is unique, the price of the lease will also go high.
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.
The essential bit that these property owners can bear in mind is the period the tower lease will last and the cellular company that is leasing it. 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.
After signing the cell tower lease contract, the owner can access the site and use the resources only in the areas that are stipulated in the contract.