A cell phone carrier sublease is when that tenant leases out either the entire, or part, of the current leased area to another cell phone carrier tenant. The majority of cell tower leases allow the carrier or cell tower company to sublease not only the tower, but also your property to third parties.
Even though the cell phone carrier tenant is letting a third party occupy and use your property, a vast majority of the time, a landowner is not entitled to share in revenue received by that tenant for such sublet. To date, I have not encountered a carrier or tower company who has approached a landowner to provide them additional revenue for their sublet. Even when a landowner has the right to consent to a sublet of their property, a carrier or cell tower company will forward a letter of consent to you, without giving you the option to renegotiate the terms of the lease based on the third party’s use of its property, or, in some cases, will actually make this consent a part of another, less conspicuous document that, on first glance, does not seem to be a consent document, but it really is, and they will use it for that purpose if need be.
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Many cell tower leases simply require that the cell tower company “notify” the landowner if they are going to sublet the site. However, more and more, I am finding that most leases out there allow a cell phone carrier or cell tower company to sublease the premises area without obtaining the prior written consent of the landowner.
Be aware that if you sign a letter of consent allowing a tenant to sublet the premises, you may be giving up future rights to additional revenue. Your tenant is making money off your property, shouldn’t you as well?
While one of our competitors goes as far to say that, “There are other options that we believe are better for the landowner that we won’t share without first being retained,” we, on the other hand, will not only provide you with all the options you may have when it comes to the sublet of your property, but we will work directly on your behalf to make sure you realize the maximum benefit from a tenant’s sublet of your property. We want to share our knowledge with you. Remember our motto? We don’t benefit unless you benefit.
The leadership group at Vertical Consultants has not only developed and built cell towers throughout North America, but we have also been directly involved in the structuring and drafting of the agreements that control these cell tower locations. This experience has allowed us to better understand the cell phone industry and the revenue received by carriers and cell tower companies. Unlike our competition, who will send you here for this service, and there for another issue surrounding your lease, we have both the people and the experience to handle any and all issues that may surround your lease, thereby saving you not only time, but money as well. We are the only place you’ll need to go to find answers for your questions and counsel for your sublet issues.
We can provide you with not only expert consultation when it comes to issues surrounding the sublet of your property, but we will work on your behalf to make sure you are able to optimize the situation.