5G Is What’s Next
5G is on its way! Very similar to the recent jumps from 2G, 3G and 4G, wireless carriers’ ability to provide 5G services will open up a tremendous amount of new avenues for wireless customers.
5G will not only offer larger network coverage than presently available, but it will incredibly increase data loading speeds, which have been estimated to be up to 100 times faster than currently available.
Wireless carriers’ networks will be able to handle up to 1000 times more data usage so customers will not only be able to download more to there phones and tablets, but do so at speeds that will allow more sophisticated applications to be available.
The United States government is developing the pathway for 5G by making new wireless spectrum bands available and has plans for certain test market cities to be the first to have 5G available for use.
With 5G comes the need for more cell sites to handle the build-out of the technology. Recently, the FCC Chairman, Tom Wheeler, stated that millions of cell sites would be needed to implement this technology. Wheeler went on to say that there are approximately 200,000 cell towers in the United States at the present time, and 5G will require a much denser network of cell sites.
So, what does this mean for existing cell tower landlords and even those interested in leasing their property for a cell site?
Existing cell tower and rooftops sites may see a lot of equipment modification activity, as it will be out with the old and in with the new. A cell tower landlord should not only know its rights under its current cell tower lease agreement, but also understand the opportunities it may have to negotiate a better overall lease as a result of the change in equipment.
5G will also bring a tremendous amount of new cell sites to the market. While these cell sites may not be your traditional cell towers that you see everyday, they still have value and provide those who are open to having a cell site on their property the avenue to garner additional ancillary revenue.
Remember, ultimately it is not how much space a cell tower company or wireless provider leases, it is the value they derive from such space.
Contact us today to discuss not only opportunities related to 5G, but how you can secure a better cell site lease today before the 5G frenzy begins.
I take it the company leasing the land takes over the costs to updated traditional towers with the technology that makes them capable of 5G? Also, what about the upgrade makes it possible to renegotiate terms? The more I read about this, the more complex it seems to be!
Thanks for your comment. Upgrades are something tower companies don’t want landowners to know about. 5G improves the value of land and you may even be able to increase your rent. Please read more here https://www.celltowerleaseexperts.com/cell-tower-lease/.