New Cell Tower Leases
Congratulations! You just won the lottery! Your property has been identified by a cell carrier (such as AT&T, Verizon, T-Mobile, Sprint) and they are interested in signing a new cell tower lease with you. The need some land or space on your roof that you are currently not using and they are going to start paying you rent! What are you waiting for? Sign all the paperwork and get those checks coming in pronto! Wait a minute….not so fast….. don’t run to the alter just yet. There are some very important things that you need to carefully consider prior to agreeing to a long-term contract.
Are You Receiving Fair Business Terms In The Deal?
An industry secret is that carrier’s often discount cell tower rents and business terms for property owners who are not represented by experts in the wireless industry. It’s the old adage – knowledge is power – and without expert representation, the carrier has all the knowledge and typically dictates the terms in negotiations. When the carrier submits an initial offer to you, it will always be below market, but how low is it? The only way to ensure that you are receiving a fair deal is to have the offer and project reviewed by a cell tower lease expert, and we are here to help you with your review.
Can We Improve Their Design?
Will the carrier be constructing a cell tower or a rooftop design? How big is the proposed Premises? Will they be installing their own electric meter? Are there any aesthetic concerns? Are there any plans to redevelop the property in the foreseeable future? Can we improve their design? These are just a few questions that you need to consider prior to signing a 20 – 30 year agreement. Now is the time to review the design, because once it is constructed, the carrier will not likely make any design changes.
Is The Proposed Agreement Fair To You?
If the agreement is on the carrier’s lease template, then the answer is NO. The last time that we checked, Verizon’s standard lease template has 36 provisions and AT&T’s standard template has 24 provisions. That is a lot of language drafted by your future tenant which they have – no doubt – slanted the rights of the provisions into their favor, and not yours. What about provisions such as Holdover language that they may have omitted? This is not an agreement that you want to try to do your best making changes on. This is a long term agreement, and by getting assistance – upfront – from an experienced cell tower lease expert, you can greatly benefit from our valuable insight as well as our recommendations along the way.
Having a wireless carrier approach you to construct a cell tower or cell site on your property can be an exciting opportunity, but it’s important to review each step of the process thoroughly. The carrier has hired professionals who have negotiated hundreds of wireless leases before, thereby putting property owners at a serious disadvantage in negotiations. Tip the scales of negotiation in your favor and beat the carriers at their own game! We have negotiated hundreds of new cell tower leases for property owners – let us help you today.