Cell Tower Lease Renewals: Don’t Miss Potential Opportunity
While cell tower leasing is a billion dollar industry, property owners are often massively underpaid and only make a fraction of what they should over the lifetime of their lease. Your land is important to the tower companies that rely on you, don’t let your property be undervalued. When you are negotiating a contract, avoid missing out on an opportunity to bring in the income that you really deserve.
Extensions Last 20 To 30 Years
Remember, you’re committing your land for decades into the future. Tower companies might be asking you to sign up for half a century ahead. Often, a renewal is their chance to extend your lease 20 to 30 more years past its current expiration date. They’re asking you for a lot, but often offer up little.
As previously noted about lease facts and figures, the average property owner is underpaid over $850,000 over the life of a lease. Imagine what you could be doing with all of that extra income! With that figure in mind, avoid being enticed by one time signing bonuses that simply aren’t enough. This is just one way a company will try to trick you into thinking you’re getting the best deal. However you deserve to make more money for years to come, not just a little extra right now.
Your Property Has Value
You might feel insignificant to a cell tower company, but don’t forget your worth to them. Landlines are a device of the past and big companies are competing for the attention of millions of mobile phone users. Expansive coverage is important to consumers – no one wants to pay for a service that doesn’t work nearly all of the time. In fact, most of us expect to have cell service no matter where we go.
Losing the tower on your property could mean losing current and future customers for a business, not to mention the cost of relocating a tower somewhere else completely. That’s a lot of money lost and these leasing companies know it’s beneficial to pay you more than to move. Don’t give in to scare tactics; relocating a cell tower is rare. When you hire a professional to negotiate on your behalf, they are equipped with this information and they use it to their advantage to get you the best deal possible.
It’s not only about the money; sometimes you are committing to unnecessary liability. That could pose a huge risk to yourself and your property. Companies often include clauses that they present as being beneficial to the land owner. They might offer services that they argue are to avoid bothering you with their day to day activities. In actuality, you might be giving up your rights to manage their future use of your property. It’s important to really understand what you’re signing up for. before committing. You might only look at one cell tower lease in your lifetime, but a professional has seen plenty. They know what’s a good deal and what’s not. They won’t undervalue you or let a company put you in a vulnerable position without your knowledge.
Have You Been Asked To Extend Your Lease?
Optimizing the value of your lease is the most important thing you can do. We will assist you in negotiating and structuring a lease extension that will result in maximum value for you today and into the future.
