There is one Big Cell Tower Lease Mistake that you do not want to make if you have been approached for a new cell tower lease agreement or have an existing cell tower lease agreement.
Don’t rush!!! Most property owners feel like they must move at a quick pace, just because the cell tower company is telling them so, and that if they don’t, they will either retract their offer or even, if an existing cell tower lease is in place, that they may terminate that cell tower lease agreement.
Don’t fall for this planned and calculated cell tower company tactic that ends up landing a great deal for the cell tower company or wireless provider, leaving a bad deal for the property owner not only today, but for decades into the future.
The cell tower companies try to get you to move at a fast pace by setting false deadlines because it’s advantageous for them in the short and long run.
Don’t Give Them The Advantage
The vast majority of property owners have never seen a cell tower lease agreement, so they need to make sure to understand not only what they are really being offered, but what they are really agreeing to as well.
By contrast. the cell tower companies and wireless carriers deal with these cell tower lease transactions every day. Yes, literally every day, and have consultants, attorneys and engineers all working on their side.
As a result, the advantage is to them, and you’ll end up making mistakes that cost you not only today, but for years into the future.
Long-Term Obligations
If you’ve been approached for a cell tower lease agreement or have an existing cell tower lease agreement and have been asked to extend or modify that lease agreement, take your time and understand what you’re offering the cell tower company and what they are obligating you and all of your property to.
Most property owners don’t realize that they are not only giving a cell tower company the rights to use defined leased areas, but are also placing restrictions on all of their land and/or building which could affect future use, development, sale or even financing of their property.
It is only natural for a property owner that has been approached for a new cell tower lease agreement or one that already has an existing cell tower on their property to focus on the rent. Getting a correct cell tower rent rate is very important, but understanding the full scope of a cell tower agreement is more important.
Remember, you are committing for a long period of time, sometimes upwards of fifty plus years, and the cell tower companies are only committing as long as they want to use and occupy your property. You are committing, while they are participating.
If you have questions regarding a cell tower lease agreement. contact us today.
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