A cell tower land lease offer can feel flattering. Many property owners sign up right away out of excitement at the prospect of a long-term passive income. However, they usually end up getting far less than what they could get. They simply don’t know enough about this type of lease to negotiate a better deal. If you get approached by a company, then make sure that you do the following before you sign:
Get Multiple Offers
Do not be content with just one offer. If a company went out of its way to talk to you about a lease, then your property probably has ideal characteristics that you can leverage. Maybe you could go to a competitor of the first company to see if they might be able to provide an alternative offer. If they can give you higher rates, then you can get that. You could also tell the first one about the developments so that they could provide a counter-offer as well.
Take Your Time
Your property is valuable. There is no need to rush into signing out of fear that the offer might lapse past a deadline. Most companies only use this as an excuse to pressure people into agreeing without studying the details or finding a better offer. Take your time because your property will continue to be valuable whether or not you get the initial lease.
Study the Structure
Most people will only focus on the monthly or yearly rent. However, the contract states more than this. For example, you might find stipulations about how much the rent will rise year over year. If this gets higher by only 2-3%, then you will have a stagnant rent that simply follows the average inflation rate.
Cover Your Bases
Don’t just think about what you might be getting. Consider what you are giving up in the process so that you can better evaluate whether their offer is enough or not. How will you be affected by the cell tower land lease? What freedoms are you going to lose? What sort of requirements will be imposed on you?
Hire a Professional
Going through lengthy contracts is not everyone’s cup of tea. If you would rather be focusing on your work, then hire a professional to take care of this lease offer. Experts can negotiate far better than property owners thanks to their knowledge and experience on the subject.