Leasing your property is one of the profitable sources of earning. Leasing your property for cell towers can give you a fixed income for the whole lease period. If you have a cell tower in your land or on your building you may have been asking yourself some questions. What is the worth of your cell tower lease or what could be the rental rate? One thing you have to understand is that every cell tower site has a different value. For instance, you can have a cell tower from the same company with your neighbor who is just two miles away but the lease value might be different despite similar lease terms. Understanding this as a property owner could be a great benefit to you. Don’t leave any money out to the cell tower companies but reap all your benefits from leasing your property for a cell tower.
Some of the things that determine the value of a cell tower rent rates are the following.
1. Location. Prices are higher in urban or suburban setting where demand is high for wireless services, but the locations to put the cell towers are limited. In rural areas, the prices might be low because many landowners might be willing to lease their property at a lower rate.
2. Lease period. A lease of a shorter period is far much better than a lease of many years. A company will always consider renewing the lease rather than looking for a different site and building another cell tower.
3. Rent Being Paid. For a buy-out price which is a lump sum, multiple tenants are better than one.
4. Number of Companies on the Tower. More than one company is far much worth than just one.
Another thing to understand as a land owner is that, buy-out companies make a lot of profits by buying leases cheaply from you and then charge the cell companies at high rates. For better cell tower lease buyout offers, landowners should consider a bargaining power or an auction process, especially where the buyout companies are many. This will drastically raise the price.
Hiring an attorney will help you not to be under-compensated for your property but get a fair value for it. Cell tower lease attorneys help negotiate with the cell company. Getting an attorney who is experienced in negotiation and well familiar with cell tower leases is important. Having an extra oversight of an attorney is a good idea in order for him or her to review the legally binding agreement before you sign it. While choosing a cell tower attorney it’s important to choose an attorney who is knowledgeable, has a good track record and has been in the industry for some good time with positive clients’ reviews.
In addition to all the benefits that come with leasing your property, property owners must also consider all the risks that are brought about by such leases. The risk in terms of liability and restrictions of use of the property or even development of the property. For more details, just visit http://www.celltowerleaseexperts.com/increase-rates/cell-tower-lease-rates/