Information About Cell Tower Leasing
Cell tower leasing is a type of property contract that is done between a landowner and a telecom company of where the cell tower should be erected. Telecom firms are always on the lookout for strategic locations in rural areas and buildings in cities. People can capitalize on this to earn some extra income by entering into this cell tower lease contract.
Before going into such a deal, it is imperative that you do some research on the laws and regulations governing these tower leases. 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. This means that the cellular operator has some rights to the property once the leasing contract is signed. This in short means that, both of you should know your rights regarding the property and the rights which have to be consented to by the owner of the land 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 cell tower rates will all depend on whether the location of the land is in an urban area, rural or suburban, the value of the land in the market currently, etc. 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.
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 lease can be full term which means that it can last for an entire 20 to 25 years or feature five-year installments whereby the landowner can renegotiate the terms of the contract before renewal.
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.