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. 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 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 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 prices these towers can go for depending on their locality for example if they are in an urban area, rural or suburban and the current market value. Properties that are strategically placed usually have a high market value.
Information regarding tower leasing is hard to find since the databases are either outdated or are not easily available.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.
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.
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.