Points to Note About Cell Tower Leasing
Tower leases have become common nowadays with the need for cellular operators to expand their network coverage through erecting cell towers. Telecom firms are always on the lookout for strategic locations in rural areas and buildings in cities. This has also been beneficial to those people since it is also a good source of income to them.
Before going into such a deal, it is imperative that you do some research on the laws and regulations governing these tower leases. 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.
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 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.
Another key concern you should take into account before entering into a leasing contract agreement with a cell tower operator is to evaluate the land in terms of the rent it would fetch. 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. Sometimes, the unique location of the land in terms of zoning also makes a difference.
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.
How long the lease will last, and the cellular company leasing the property is what matters most to the owner of the land or building. The contract of the cell tower lease can be either full term which means that it will expire after a period of about twenty-five years or partial meaning that it will require renewal after every five years until the contract expires.
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.