Stop. Proceed with caution.
If you have been contacted by a company offering to purchase your cell tower lease, it can be exciting to think about the potential for a significant cash payment, which could assist you today and in future. The company’s sales strategy is to present an enticing deal that property owners can’t refuse. Remember to pause before putting pen to paper and ask the following questions: What is the true value of your cell tower lease? Are claims made by the company accurate? What are the short-term and long-term consequences of selling your cell tower lease? Your property is unique, and you deserve an agreement and purchase price that are specific for YOU. Stop and proceed with caution when you are presented with an offer to purchase your cell tower lease.
Look. Read the Fine Print.
If you have been asked to an existing cell site lease, make sure that you look at and understand all of the terms in the agreement, and not just the purchase price. Many companies have insider information and extensive experience negotiating deals just like yours. Therefore, they have a clear advantage. If you decide to sell your lease, the tower company may ask to lease additional areas on your property. Restrictions could be included that prevent future development on your property. When selling your lease, not only are you forgoing the rent, but there is also a possibility that you will be held responsible for certain terms within the lease agreement. Therefore, before selling your lease, ask yourself, “What am I sacrificing and what am I receiving in this agreement?” The decision to sell your lease is a decision that will have long-term effects. Look at all aspects of the deal and remember to read the fine print.
Listen. Think About Your Future.
It can be overwhelming to think about all of the details and variables of selling a cell site lease. Listen to your gut. While an immediate reward can sound great, remember that a cell site sales agreement can be structured for periods of 30, 40, 50 or more years. Due to the fact that property owners do not have the right to terminate an agreement, it is critical to get the terms right. A costly mistake today can be detrimental for decades to come. Consider hiring a cell tower lease-consulting firm that has the expertise and experience to advocate for you by securing the maximum purchase price for your cell site lease. A reputable consulting firm will listen to your concerns, and put a structure in place that will protect you and your property from unforeseen hazards, possibly overlooked without the assistance of an effective cell site lease advisor.
