Before getting into details, let us first define the term cell tower lease agreement. A cell tower lease can be defined as a legal agreement between a cell phone company and a property owner to install and maintain a cell tower on the property and for a specific agreed period. A cell tower lease agreement depends on the negotiations.
Cell tower lease agreements are great for families or businesses. If a person doesn’t have the necessary skills to negotiate them, he/she might not end up getting the best deal. Negotiations of cell tower leases are generally tricky. Here are some things you should be aware of about cell tower leases:
Always counter the offered price
It is important to understand that the initial offer presented by a cell phone company is way low. If you are don’t have experience dealing with cell tower lease agreements, it is advisable to hire an expert to assist you in the negotiation process. It is important to counter the offered price because a person will be bound to the agreed fee for a very long time, usually years.
Securing co-location of rent
There are some cases where another tenant wants to the cell tower built on your land. If you didn’t know, you are entitled to a piece of the action since they are using your land. This is because it is your land being used by the cell phone company to generate income. In such cases, it is advisable to hire a cell tower lease expert to negotiate on your behalf. This will help you secure the lease rates you deserve.
Don’t compare your lease rates to that of your neighbor
This is a common mistake which most land owners make when negotiating cell tower lease rates. Most of them choose a price which their neighbors are being paid. Most people associate this behavior as a means of sampling the market and comparing lease rate prices. There are some cases where your neighbor poorly negotiated price. This is the reason why a person should avoid this common technique of negotiating lease rates if you want to get the most out of your land. It is advisable that you hire a cell tower lease expert to negotiate on your behalf if you don’t have any experience dealing with cell tower lease agreements.
Cell phone providers ask for more land than they need
Most cell phone providers request for more land than they need to build a cell tower. The most common reason is that they want to sublease to other carriers in the future and generate some income from your land. In case a sublease occurs, it is important to consult a cell tower lease expert to guide you through the entire process.
How to get a better deal
The most suitable way of getting a better deal from the cell tower lease negotiation is by hiring a cell tower expert.