A cell tower lease can bring a lot of revenue to your home throughout the year. It can be the ideal way to earn extra and are in high demand. Of course, not every property is suitable for a cell tower. If your property is lucky enough to be chosen, it’s the time to get your thinking cap on because it’s not an easy decision. You not only have to think about the short-term consequences of a cell tower on your land, but the long-term ones too. If you decide to proceed with it, you need to approach the negotiation stage carefully. So, what tips can help you negotiate a lease?
Understand Cell Towers and All Things Related
Whether you have a cell tower consultant or otherwise, you should never go into the negotiations with zero information or knowledge about cell towers. While you personally don’t need to know what purpose the cell tower serves, you need to understand the basics. You need to know what’s involved by housing a cell tower on your land. It’s crucial because if you don’t like the notion of what it entails, you should walk away now.
Always Have a Cell Tower Consultant on Your Side
There’s a lot of technical jargon involved with leases, not to mention legal terms. It’s necessary to get to grips with them all, even know it’s difficult to take it all in. With a consultant at your side before, during, and after the negotiation of a cell tower lease, you can understand things better. If you aren’t good at negotiating for a better deal, the consultant can do so on your behalf. It’s about getting good representation on your side so that you get a fair price. Learn more!
Note Anything Can Be Negotiated
You think only the lease rates can be picked over, well think again. With cell towers, you can negotiate anything and everything. Any part of the contract you don’t like, you can negotiate. This might even include the terms. So, it’s crucial to have a cell tower consultant ready to take up arms on your behalf. If there are things you don’t like, it’s important to highlight them and negotiate them too.
Square Footage Ups the Rates
You might have hundreds of acres of land, but if the cell tower is only taking up a small portion, that is all you’ll be paid for. A lot of people believe the bigger the tower or the piece of property, the more money they can earn; however, that’s simply not the case. Cell tower lease rates are based on the square footage it uses up, not how tall it is or how big your land may be. Fortunately, that can work to your advantage too because if the cell tower takes up a sizable chunk of your property, that’ll increase costs.
Always Negotiate Standard Business Terms Before Anything Else
When you cannot agree on business terms, there is no lease to negotiate. It’s as simple as that. So, before you rush ahead and bash out numbers, you need to ensure the terms are acceptable. This is a matter for both parties. It’s essential to negotiate these terms before you do anything else. When there is an agreement, you can move on, and if not, it’s not the right deal at this time. That’s why a cell tower consultant is necessary.
Negotiate Smartly
You have to go to the negotiation table with a clear mind, realistic views, and be open to discussion. When you lack any of these you will find negotiations stall. In reality, cell tower leases can be stripped back to the barest bones so you can understand what a cell tower involves. However, negotiating rates and all other things is slightly different. You really should have a consultant to fight your corner, along with understanding the basic idea of the cell tower. Once you understand those things, a cell tower lease doesn’t seem so scary. You can know more at: https://www.fairbanksopenradio.org/is-there-an-obligation-to-tell-prospective-buyers-about-a-nearby-cell-phone-tower/
