All 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. With telecom giants being always on the lookout to build their cell towers, they have gone to lease land from people in the countryside who have large tracts of land. 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 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. Cell tower leases, without exception, indicate that following the signing of the contract the cell tower operator has to enjoy certain rights over the land you have leased to him. 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. If the location of the land is unique, the price of the lease will also go high.
Information regarding tower leasing is hard to find since the databases are either outdated or are not easily available.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.
Upon signing the contract and terms of the lease, the length of the lease, as well as the leasing company, is what is crucial to the landowner. 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.
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.