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. These firms are always searching for buildings that are strategically placed or even land in rural areas to erect these cell towers. People can capitalize on this to earn some extra income by entering into this cell tower lease contract.
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. 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.
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. Properties that are strategically placed usually have a high market value.
Ascertaining the cell tower leasing rates is actually very difficult because information with regards to this is not readily available. However, a few organizations have gone the extra mile to collect information and assemble a database over a period which has made it easier for people to acquire estimates of how much tower leases cost depending on where the land is.
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.