A cell tower lease can offer quite a lucrative opportunity, providing recurring income and potentially increasing the value of your property. It may almost feel like you’re getting a significant something ($$$) for almost nothing (the use of space you already had). Before you sign on the dotted line, though, be warned that the lease terms will virtually always be written in favor of the wireless carrier tenant. Yes, you’ll collect rent, but you may be giving up more than you realize. Don’t panic — there are actions you can take to protect yourself and your asset.
First and foremost, enlist the assistance of a knowledgeable and reputable cell tower lease advisor. Like most legal documents, cell tower lease contracts are notoriously difficult to decipher. Take into account the fact that the wireless industry is heavily nuanced and ever-changing, and the task becomes even more challenging. An experienced lease consultancy firm, such as The Filo Group, can decode the legal jargon for you and uncover which aspects of the lease may be unfair or questionable. With this knowledge, you can work toward correcting any bias that exists in the original contract.
Once you have an understanding of what needs to be amended, The Filo Group can help you negotiate the terms of the lease contract. The carrier has selected your property for a reason — it’s in an area that has been identified as necessary for expanding their network coverage. You have something the carrier wants, so compromise is probable. Here, again, it is critical to have an experienced advisor on your side to evaluate and negotiate every detail to get you exactly what you deserve.
A cell tower lease is a long-term agreement, and an unfavorable one can result in significant loss of capital as well as diminished property rights and value. Don’t let yourself fall into that situation if you can avoid it. Having evaluated thousands of cell tower lease contracts, The Filo Group has a wealth of deep and diverse experience that could be invaluable to you.
If you have questions or even an inkling that you might benefit from speaking with an industry expert, contact us today for a free consultation. We want to ensure that you get the most benefit from your cell tower lease opportunity and look forward to discussing it with you.