Many persons make the mistake of presuming that hiring a cell phone tower lease expert is necessary only if the rent offered is too low. There is no doubt that the rent is a very important parameter impacting the attractiveness of a cell phone tower deal.
However, cell phone tower lease negotiations encompass many points beyond just the rent. Read ahead for an overview of some important points that property owners often ignore when negotiating a cell tower lease.
Who is liable if the cell phone tower on your property impacts easement rights of your neighbor? Now, easement is an extremely complicated field of law that even experienced lawyers can struggle with.
The last thing you want is to end up having to pay a hefty settlement to your neighbor just because the cell phone company completely washed off its hands from all easement disputes arising out of the tower.
Are you prepared to completely lose access rights to the space on which the cell phone tower has been built? If yes, then your long-term cell phone tower lease may turn out to be a virtual sale deal where you lose a significant part of your rights related to the space leased to the company.
Many property owners ignore this point and end up facing problems when trying to dispose of the property. You may be okay with restricted access rights but the buyer of the property may find it too restrictive.
This can end up reducing the value of your property or make it difficult for you to sell the property for a good price unless settled favorable in the lease contract.
A cell phone company may offer a generous initial rent and then convince you to agree to a very conservative escalation clause.
Remember, the difference between a three percent annual escalation and a one percent annual escalation can add up to quite a lot of money when calculated over a period of 15 years. Hence, , blindly believing the company’s opinion on suitable rent escalation without obtaining independent advice and guidance may prove to be a disastrous mistake.
These are just a few points cell phone tower lease negotiations where the presence of an expert by your side can be very beneficial. Hence, don’t the mistake of focusing solely on the rental offered by the company.
Instead, take a holistic view of the deal and work with a professional expert to ensure all aspects and facets of the negotiation process are completed in your favor with minimal risk of long-term complications.