A property contract between a telecommunication company and the owner of the land on which the telecom company would like to erect a cell tower is known as cell tower leasing. However, you absolutely need cell tower advice when it comes to the contract and leasing agreement.
Telecom companies are always looking out for places where they can construct their cell towers. Thus those who own high rise buildings in cities as well as land owners who have tracts of land in specific strategically located areas in villages would stand to earn some extra income if they enter into a cell tower lease.
A land owner who is likely to be approached by a telecom company desirous of erecting a cell tower, should first be aware of the laws as well as the regulations that govern the lease even before he is approached by a buyer. The land owner needs to check out certain factors before he grants the lease. These factors include that the terrain should be evaluated for its suitability for the purpose. The local ordinances pertaining to the property, security concerns and more importantly whether the carrier has given the company the requisite authorization all need to be checked.
The land owner also has certain rights in the deal and he should ensure that these rights are very clearly mentioned in the contract. According to cell tower leases, once the contract has been signed, the operator would also enjoy certain rights over the leased land. Therefore it is the responsibility of the property owner to know all about his rights over the land as well as those rights which he would have to pass on to the operator as also the certain areas where the operator would require the permission of the owner of the land.
Another thing that plays a vital role in such leasing contracts is the amount of rent that could be gained after entering such cell tower lease. There are various factors on which cell tower rates depend, it could be the area of the place (whether rural, urban or sub-urban), the land's market value and the background of the property. At times, even the zone in which the building lies can determine the price of the rent.
Calculating a rough idea of the rate of this type of lease certainly isn't an easy task because there is no one-size-fits-all method or technique of calculating.
If you want to have some idea about how much would these cell tower leasing companies and contracts be able to fetch you, then you can talk to the organizations which are experienced in this matter, meaning they have the proper information and databases which has been collected over the years.
One thing that is important to both the owner and the leasing company when entering such leasing contract is the time period of the cell tower lease. A full term lease would usually last for 20-25 years or one could go for installments every five years, this makes it possible to negotiate whether or not one would like to renew the leasing contract during the renewal time of such contracts.
Even though the carrier or the company may have permission to visit the leasing site as and when he desires, but he cannot use the facilities pertaining to the property which are not accessible for him and nor can he occupy an area larger than the designated one, even though it might just be an inch more. He would have the right to maintain or construct the cell tower, but by no means should these activities affect the activities of the property.
If the land owner so wishes he can sell the building at a later date as the law permits him to do so and the lease is immune to the sale of the property.
No comments:
Post a Comment