Information 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 is a good source of income that people owning such kind of property can utilize.
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 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. 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. Some of the factors that will guide you in determining the cell tower rates are whether the place is suburban, rural or urban. 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 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.
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.