Talking to a cell tower consultant is essential for those who want to lease their land. You can’t go into this deal blindsided because it’s your neck on the chopping block. While you have the notion of calling all the shots with cell tower leasing companies, the reality is far from that. Tower leasing looks simple enough, but is complex in a way. You can’t compare rates and you can’t always be sure if the price is a fair one; you have to be careful. However, tower leasing has increased in recent years and seems likely to do so within the upcoming years also. So, do you know what you lose and what you gain with a cell tower lease? If not, it’s time to learn more.
You Give Up the Ability to Walk Away
While you believe you can do anything on or with your land, think again. You sign a contract with the cell tower company, you’ve agreed to the cell tower rates and the tower is installed. However, you don’t technically have the right to walk away from the deal three or four years later. You may think you deserve a better price, but you can’t walk away now, not without a fight anyway. Essentially, you’d have to break the lease and that could cause a financial headache. In a sense, you’re giving up the ability to walk away from the deal once the cell tower has been installed. You have to think about what would happen if you change your mind later on.
A Potential Issue If You Sell Your Property
You sign a cell tower lease for a thirty-year period, but ten years later and you want to sell; what about the lease? Well, it’s unlikely the tower leasing company will want to break the lease, especially if it’s prime real estate for them, which means you have to sell the property with the lease in place. However, will all potential buyers be happy to inherit a twenty-year lease for a cell tower? What about buyers that want to extend the property? It’s a potential sticking point for buyers and sellers alike. While you’re not technically giving up your right to sell the property, potentially, it’s future headache. See more!
You Gain Rental Income
One of the best things you gain from leasing your land to a cell tower company is the cell tower rates! You can potentially gain a sizeable rental income from your land! It doesn’t matter if you have a short or long-term lease, the income can be substantial! This is especially usefully if you want to supplement your income or just want to make money from your land. However, don’t believe you’re going to become an overnight millionaire; it’s unlikely to happen! That doesn’t mean to say you can’t make money – because you can – but, you need to have realistic expectations over money. You’re still gaining at the end of the day and that’s what matters most.
You Gain a Long-Term Lease
You should always try to negotiate for a reasonable price and a cell tower consultant might be the best person to talk to. Of course, everyone has an opinion over whether this is something positive you gain or not. However, the truth of the matter is that if you’re getting a fair price for your rented land and the price remains the same for the next five years, it’s an advantage. Yes, you may want to negotiate for a better price (or what you think is a better price) but it might come to nothing. If you push too hard, the company might decide to walk away. That’s something you have to be extremely wary of when you’re negotiating a price.
Leasing Made Simple
While there are some potential drawbacks of a tower lease, there are also positives ones too. At the end of the day you have to decide whether renting your land out will be cost-effective and worth your time and effort. Yes, the tower companies are the ones that will do the necessary installation and the maintenance, but it’s still something you must think about. Of course, the fact you’re gaining income is fantastic, just be aware of what’s involved. If you think its right for you and you’re approached by a company, why not explore a cell tower lease and what it can do for you? For more information visit: https://en.wikipedia.org/wiki/Mobile_tower_fraud