5 Key Takeaways on the Road to Dominating Leasing
Points to Note 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. These firms are always searching for buildings that are strategically placed or even land in rural areas to erect these cell towers. This is a good source of income that people owning such kind of property can utilize.
Sitting on a potential tower site entails that the proprietor educates himself on matters to do with laws and regulations with regards to leasing once a buyer approaches him. Particular elements which need to be assessed prior to granting the lease are analyzing the terrain concerning its suitability for its purpose, the local ordinances governing the property and the safety measures that have been put in place.
It is both Imperative to be aware of the rights of the owner and make sure that all these are explicitly mentioned in the contract. Cell tower leases, usually state that the firm which has leased the land has some rights to that property. 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.
It is a good idea for the building or landowner to evaluate it with regards to the income it might bring if it was rented instead of leased. 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.
The essential bit that these property owners can bear in mind is the period the tower lease will last and the cellular company that is leasing it. The lease can go for up to 20 to 25 years or installments of five years where the owner of the property can decide to renegotiate the contract he had signed before renewing it for another five years.
Even though the cell tower operator can have access the leasing site at any time, he cannot use the facilities of the buildings that are beyond where he operates before asking for permission from the owner.