Tower leases have become common nowadays with the need for cellular operators to expand their network coverage through erecting cell towers. 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. People can capitalize on this to earn some extra income by entering into this cell tower lease contract.
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. This means that the cellular operator has some rights to the property once the leasing contract is signed. This in short means that, both of you should know your rights regarding the property and the rights which have to be consented to by the owner of the land before using it.
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. Some of the factors that will guide you in determining the cell tower rates are whether the place is suburban, rural or urban. 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Information regarding tower leasing is hard to find since the databases are either outdated or are not easily available.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 lease can be full term which means that it can last for an entire 20 to 25 years or feature five-year installments whereby the landowner can renegotiate the terms of the contract before renewal.
After signing the cell tower lease contract, the owner can access the site and use the resources only in the areas that are stipulated in the contract.