The Essential Laws of Rentals Explained
Cell tower leasing is a type of property contract that is done between a landowner and a telecom company of where the cell tower should be erected. These firms are always searching for buildings that are strategically placed or even land in rural areas to erect these cell towers. People can capitalize on this to earn some extra income by entering into this cell tower lease contract.
Before going into such a deal, it is imperative that you do some research on the laws and regulations governing these tower leases. There are several things that the buyer would need to check on your land before he leases your property which includes analyzing the terrain regarding its suitability for erecting a cell tower, the local ordinances regulating the property especially security.
It is both Imperative to be aware of the rights of the owner and make sure that all these are explicitly mentioned in the contract. This means that the cellular operator has some rights to the property once the leasing contract is signed. This means that the property owner should know of his right, that which is conferred to the cell tower operator and the rights which needs to be agreed upon with regards to some of the areas on the leased land.
Evaluation of the land is the other major concern that you will have to take into account before leasing it to the cell tower operator with regards to the amount of rent it would fetch if you were to rent it on a monthly basis. The prices these towers can go for depending on their locality for example if they are in an urban area, rural or suburban and the current market value. Sometimes, the unique location of the land in terms of zoning also makes a difference.
Information regarding tower leasing is hard to find since the databases are either outdated or are not easily available. But, there are a number of organizations that have been able to build a database in the last few years that has all of the estimates of the prices such leases go for on the market today.
The essential bit that these property owners can bear in mind is the period the tower lease will last and the cellular company that is leasing it. The lease can go for up to 20 to 25 years or installments of five years where the owner of the property can decide to renegotiate the contract he had signed before renewing it for another five years.
Even though the cell tower operator can have access the leasing site at any time, he cannot use the facilities of the buildings that are beyond where he operates before asking for permission from the owner.