Important Terms In Cell Tower Leasing
A cell tower company is usually a company that provides a tower for cell phone providers. These towers are important because they improve cell coverage. It is not uncommon to find several cell providers sharing one tower.
To avoid being exploited by wireless companies consult a cell tower lease consultant Wireless companies may take advantage of individuals who don’t have consultants to negotiate good lease prices for them.
To avoid any headaches when getting into a cell tower lease agreement, involve a cell tower landlord advocate. Property owners should take advantage of advocates who know the laws concerning cell towers in different regions.
Anyone who has an agreement with a cell tower company to lease their land to them for placement of a cell tower is called a cell tower lease landlord. Cell tower companies look for strategic locations where they can provide better services to their customers.
A cell tower lease buyout means that the owner of the land or roof of a building gets a onetime payment for using the property.
Any valuation will consider what your property is worth, the market price for a cell tower and location of the intended cell tower. A proper valuation means you will get the best price for what you offer.
A contract is a written agreement between the leasing company and the property owner. Consultants help to simplify the legal jargon in contracts and explain the rights of the owner in a simple way.
Lease renewal means that the current contract is over so there is a chance of signing another lease. Consultants ensure that property owners get good value for leased properties during lease renewals.
Term escalators refer to a payment percentage for a couple of years while an annual escalator refers to a percentage that can be adjusted annually.
Rooftop cell site upgrades are done to improve network coverage. Any changes to rooftop cell sites should be submitted through drawings to property owners. Property owners should ensure that they receive consent letters before changes are made to rooftop cell sites.
Cell companies look after their own interests and may not be concerned with yours so always consult a lawyer for any contracts and consent letters involved. Ask your advocate to look out for better deals for you from several companies. Rent payment methods vary so choose a method that you are comfortable with instead of being forced into a buyout if you don’t want a buyout. You can either agree to an annual payment or a term payment.