Purchasing a property with an existing cell tower can be a great way to get a property with an already established income stream. However, there are a few things to keep in mind when considering this option.
Check Who Is The Real Owner Of The Cell Tower
Firstly, it is important to make sure that the cell tower is actually owned by the property owner. In many cases, cell towers are leased by the property owner to the cell tower company. This means that if you purchase the property, you will not actually own the cell tower. If the current property owners are attempting to not only sell you their land, but also the parcel of space on that land to their telecom tenants, do not sign any closing papers until you do your homework.
Check Reputation Of Cell Tower Company
Secondly, you need to make sure that the cell tower company has a good reputation. There have been cases where cell tower companies have gone bankrupt, leaving the property owner without an income stream.
Investigate Potential Risks Of Living Close To A Cell Tower
Thirdly, you need to be aware of the potential health risks associated with living near a cell tower. Some studies have linked cell tower radiation to health problems such as cancer. One of the most common fears about cell phone radiation is that it can cause cancer, but there’s currently no strong evidence to support this concern.
Check Out Location Of Cell Tower
Fourthly, you need to make sure that the cell tower is in a good location. If the cell tower is located in a remote area, it may not be able to provide good coverage. Also, If you purchase land with a cell tower with a lease that was previously sold, you have no right to any revenues produced from that tower.
Decide If You’ll Be Comfortable With Such An Arrangement
Lastly, you need to make sure that you are comfortable with the idea of having a cell tower on your property. Some people find them unsightly and intrusive. Also, there is the issue of perpetual easement on the property, meaning tower inspectors will be entering your property when they see fit to do so.
Conclusion
Buying a property with a cell tower on it can be beneficial, but could also be a detriment to your financial stake in the property. Contact Vertical Consultants today to learn how you can avoid any issues related to purchasing land with an existing cell tower. If you keep all of these things in mind, purchasing a property with an existing cell tower can be a great way to get a property with an already established income stream.
