What to look for when signing a cell tower lease agreement
These types of agreements are not the same as that of commercial or residential lease contracts. The reason behind it is that there is a difference with the specific use of the cell towers also known as unmanned contact facilities. The tenant is the one that draws up the lease and brings it to the landlord, unlike the other types of lease. It is important that prior to signing the agreement, the landlord ought to go through it and fully understand what it entails. The following issues that you should look at when signing a cell tower lease agreement.
It is important to indicate the amount being leased on the contract.Majority of the carriers will request for a lot more than they require to be in charge of the area. It has been seen in the past that the tenants end up renting the additional space to other parties making profits for themselves.It is wise to conduct research to know the exact amount of area they require for the cell tower and rent it to them. Ensure you get a good deal for the amount you are leasing and maximize on the rest of the area to make you extra cash.If by chance they insist on the additional space , make certain that you make the pay for it and indicate it in the legal document.
Make certain that the rent escalates to the future so that you remain profitable through inflation periods. Putting your land up for leasing might take years in the control of other parties giving full ownership of your land ,in terms of leasing, in the possession of another party.Shun away from having a flat rate of payment but ensure that you negotiate on the manner the rent will rise so that you are able to survive inflation. If you ignore this, you might be forced to make losses.
It is wise that you consult a professional prior to you signing the lease. The tenants will always have the backing of their experts; make certain that you have yours. Utilize your time in looking for specialists who have knowledge in such proceedings and request for their backing. This sort of people have vast knowledge and will offer you excellent counsel on what to stay away from in the contract. They are at the top of their game and have excellent know-how of what you ought to receive from the deal to be profitable.The specialists have to bargain know how that will be advantageous when putting a price on your rent assisting you to make the most of the deal.The moment you follow their lead, you will receive the most from the contract.