Hotel rooftops present a great opportunity for both building owners and communications companies. Many hotels are among the tallest buildings around, whether in small towns or in bustling cities. High elevation is crucial for telecom equipment placement, which makes a hotel potentially a premier location for a cell site lease.
Whether you already have a rooftop telecom lease in place, are being approached by a carrier, or want to attract new or additional tenants to your site, Vertical Consultants can help you with your needs, and we get our clients great results. However, if you are undecided about using your own industry expert, here are a few tips for maximizing your lease:
- The first question our clients always have is how much money they can get per month for their lease. We realize this is no different for hotel owners. There is no “one-size-fits-all” answer for cell tower and rooftop leases. Several factors come into play, including ease of access to alternative sites, the population density around your site and the wireless usage trends of those people. Analyzing these trends is why you need an expert on your side. However, the issue of maximizing rent brings us to our first tip: leave room for more than one tenant. If AT&T is using your rooftop, and you can add Verizon and Sprint, then you have potentially tripled your rental income from your rooftop space. A hotel rooftop can likely accommodate multiple tenants, so make sure you do not sign an agreement that doesn’t allow other tenants to access your roof. Also of importance is reserving the right to relocate your tenant’s equipment. This will allow you to move your tenant or tenants around in a way that most efficiently uses your rooftop.
- Limit your tenant’s leased space and require consent for any modifications to the site. By limiting the leased premises and requiring your consent for modifications, you are bringing the tenant back to the negotiating table whenever the industry evolves, which is currently happening at a very quick pace. These steps will also allow you to monitor your tenant to ensure they are complying with all the provisions in your agreement and to ensure you continue to maximize the value of your rooftop space.
- The final issue to address is access hours to your roof. Often, the communications company will put a clause in the agreement, granting themselves 24/7 access to the rooftop. Well, here is a potential scenario for you: Your hotel is renting out that penthouse suite for the week to a business executive, only to find out some of your tenant’s contractors were on the roof all night performing noisy maintenance to their equipment. Well, that does not sound very ideal to us! That is why we recommend landowners limit access to their cell site to standard business hours of 8:00 am to 6:00 pm, and only with prior written consent. Do not let the telecom companies make you think their business is more important than yours…it isn’t!
Call today for your free consultation and for more information how to maximize the value of your lease.
In 2018, Vertical Consultants averaged an immediate 305% increase in rents being received by its clients, and since 2010, has been able to assist its clients in the recovery of over 300 years worth of combined underpaid, and, in some cases, unpaid rents and other expenses that were rightfully due to these property owners located throughout North America.
To learn more about our services, visit https://www.celltowerleaseexperts.com or contact Vertical Consultants at info(at)vertical-consultants(dot)com or 877.456.7552.