What to look for when signing a cell tower lease agreement
These types of agreements are not the same as that of commercial or residential lease contracts. The reason behind it is that there is a difference with the specific use of the cell towers also known as unmanned contact facilities. The tenant has the mandate to develop the contract and presents it to the landlord which is different from the other lease. It is crucial that the landlord reads everything in that document and comprehends it previous to signing it.The following issues that you should look at when signing a cell tower lease agreement.
On the document, make certain that you lease only the needed space. Most carriers will ask for more than what they need to have more control on the land. They may have future plans to lease it out to other developers, limiting your profits.Do your research to find out the exact amount of space they require for their tower and lease it to them. Bargain to the best of your ability so as to lease them the least amount they may need and to enable you get profits from the rest of the area.If by chance they insist on the additional space , make certain that you make the pay for it and indicate it in the legal document.
Ensure that the contract points out that the rent will go up in the years to come because of the chance of economic inflation. Renting your land for the cell towers could end up taking years for the lease to expire. Stay away from permanent flat rent but you ought to bargain on a system on how you will be able to rise the rent eventually as the time goes on. If you ignore this, you might be forced to make losses.
It is wise that you consult a professional prior to you signing the lease. The tenants will always have the backing of their experts; make certain that you have yours. Invest your time on looking for experts that have knowledge on cell tower contracts and ask for their aid.This type of professional will guide you on what is acceptable and what to avoid in the lease. They are capable of knowing what you need to get from the deal according to the current trend in the market.The specialists have to bargain know how that will be advantageous when putting a price on your rent assisting you to make the most of the deal. If you want to get the most from the lease, you ought to take heed of their advice, and you will be smiling to the bank.