If you’ve been approached by a wireless carrier looking to rent space on your property to construct a cell tower or put a cell site on your building’s roof, congratulations! Not everyone gets this opportunity. Steady monthly income sounds great … doesn’t it?
Before you sign a lease agreement, keep these tips in mind.
- Don’t succumb to pressure.
The cell tower company’s site acquisition representative is likely to pressure you for an immediate answer. They’ll tell you their need is time-sensitive. They may even threaten to withdraw the offer and instead extend it to another property owner. Don’t be bullied into accepting their number, and don’t jump to propose one of your own. While the offer isn’t likely to be on the table forever, it’s even more unlikely that it will be rescinded just because you didn’t consent to it on the first or second phone call.
- Don’t commit to anything right away.
There’s no way to get around it—if you want the best deal possible, you’re going to have to do your homework because you can bet that the initial offer is not written in your favor. There are lots of questions to be answered: What is fair rent? How will a cell tower affect the value of your land? Can the design of the site be improved? Will the terms come back to bite you when tax season rolls around or when you decide to sell your property? These are just a few things to consider. If you agree to what you’re initially presented, you’re doing yourself a disservice, so don’t jump the gun no matter how good the cash sounds.
- Don’t go it alone.
The surefire way to guarantee that you’re getting the best possible deal with the best possible terms is to enlist the help of a cell tower lease expert. It’s critical that every aspect of the agreement be assessed and, as needed, negotiated. Experienced cell tower lease advisors, like The Filo Group, know precisely what to look for and how to steer you clear of the many pitfalls that are baked into cell tower lease contracts.
Having been involved in thousands of cell tower lease valuations and negotiations, The Filo Group’s expertise is immense. Contact us today for a free consultation to discuss your specific situation and how we can be of service to ensure that you get maximum profit and ideal terms from your cell tower lease.
