How can I get a cell tower lease on my property is one of the most frequent questions we get asked.
There are approximately thirty (30) million parcels of land in the United States. but only 500,000 cell towers, so the odds are long that your property will ever be used for a cell tower.
Cell tower companies don’t go to properties because they are available – they go to them because they fit their wireless network needs in certain areas.
Here Are Three Tips To Get A Cell Tower On Your Property!!!
Remember, it’s not easy, but here are three (3) things a property owner can do to increase the odds of getting a cell tower on your property:
Number One: A property owner should determine where the other cell towers are in their immediate geographical area. If a property owner determines what cell towers already exist in their immediate area, the property owner will know what the competition is and the possible need of another cell tower on their property.
Number Two: A property owner should reach out to their local municipality to see what restrictions might already be in place that would either prevent a possible cell tower being installed on their land or even possibly make their property more attractive and more valuable to a cell tower company.
Number Three: A property owner should put their property in front of as many cell tower companies as possible for consideration. There are over a hundred active cell tower companies in the United States, and they’re always looking for possible locations for the next cell tower buildout. A property owner must get their property in front of the right person at the right time.
So, What Should A Property Owner Do If Their Property Is Selected?
Number One: Make sure the cell tower company has a commitment from a wireless carrier to go on the actual cell tower. Why is this important? Well, if not, the cell tower company that has approached you is just speculating, and they are just tying up your property for years into the future without any plans to actually build the cell tower and pay you any rent.
Number Two: A property owner should require the cell tower company to identify the exact areas they want to use on their property. If a property owner does not clearly understand exactly where the cell tower company is going to place all of its equipment, how can a property owner accurately negotiate rent and other terms regarding that cell tower lease agreement?
Number Three: A property owner should make sure they get a copy of the full lease, not just basic business terms, as sometimes the cell tower company will want you only to discuss basic business terms without knowing all of the details of what you will have to sign. If a property owner does not understand what they are agreeing to in totality, how can they understand what rent or other terms you want out in exchange?
A cell tower lease agreement can be a great source of passive revenue for a property owner, but it is a long-term commitment, so getting the rent correct is important, but understanding the entire cell tower lease agreement is more important as it could impact you and your entire property for decades.
If you have questions about a new cell tower lease agreement or an existing one, contact us today.
Get More Money! Get A Better Lease!! Get Vertical!!!
