Shortly after signing a rooftop cell site lease agreement, many building owners do not realize that they have given away total control to the wireless carriers for decisions and future plans regarding the placement of cell site equipment on the rooftop and throughout the building. Additionally, wireless carriers will extend beyond the area that was agreed to in the original lease, unbeknownst to the property owner.
Who Can It Be Now? Building owners must understand the specific terms within the rooftop lease, carefully monitor events and activities and determine what is acceptable and what is prohibited with regard to tenants, subtenants, and piggy-pack leases. Equipped with this knowledge and information, property owners will have more opportunities to optimize their lease agreements and maximize rents.
A Bright Idea: Building owners should examine their buildings closely, particularly rooftops, to verify that the wireless carrier tenant is adhering to the footprint and boundaries within the area specified in the original lease, and agreed upon by both parties. Building owners must also ascertain the consumption of electrical services and other utilities. Often times, property and building owners have lost income by “sharing” utilities, without their consent and without reimbursement from tenants.
How Low Can You Go? Don’t make the mistake of relying upon so-called “market rents” to determine how much rent you should be collecting from a wireless carrier. Although you may be a real estate expert, the wireless carriers count on the likelihood that you are not a telecom expert. Unlike a real estate deal, the amount of space is not the key factor in determining value. The value of a cell site lease is based upon how much utility is derived by the tenant— not how much space is being used. In this case, size is irrelevant. Knowing the how to play the game will pay off with huge dividends today and into the future.
Contact us today to see what options you truly have and how to optimize your cell site lease.
