Cell tower lease rates – if negotiated properly – can be a nice stream of income. And with the demand for broadband and wireless technology increasing, more cell towers will appear. Thousands of landowners already lease their land to companies, and it can be a fantastic idea if you’re property is chosen. While there are some positives to come from a cell tower on your land, there are also a few drawbacks. So, what do you gain and what do you give up when allowing a cell tower on your land?
You Gain Income
With a good cell tower lease, you can start earning a decent amount of money. Some will receive a lump sum for the use of the land while others receive monthly payments, usually in smaller increments. Of course, income can vary considerably as it all comes down to the value of the real estate. That doesn’t actually mean how much the property is worth or the value of the land but how in-demand the site is. For instance, if there are already several towers in the local area, wireless companies may offer a lower amount.
On the other hand, if there were few others around and there was a higher demand for that area, the amount may increase. It’s all about the value of the site to the wireless companies and negotiating for a great deal. Cell tower lease rates can vary so you must consult a specialist to find out what’s a reasonable value.
You Give Up Your Ability to Decide When You’ve Had Enough
You might tire of having a cell tower on your land five years in to an 18-year contract. Unfortunately, there is very little you can do to get them off your land. Breaking a contract can be very expensive even if the company were to agree to moving elsewhere. They could demand compensation and the costs could be significant. When you sign a cell tower lease, you’re renting your land but also committing to a long-term contract. It’s unlike a marriage; when you’ve had enough you can’t just pack your bags and leave. That’s something you really need to consider before any leases are signed. Learn more!
Think Before You Sign
There are lots of things to consider before you commit yourself to a cell tower lease. You have to think about liability and the disruption it might bring. Then, what happens when you want to sell your home? If you have a prime location for a cell tower, then the chances are the wireless company won’t want to give up the location. That could mean selling with the lease in place; it could make your property a lot less appealing. Even though the cell tower lease rates can be fairly good, there are still drawbacks to consider. Of course, shorter leases can be useful too.
A Cell Tower Lease Shouldn’t Be Rushed Into
There are many good points to cell tower leases but also some not-so-good points. It’s a difficult decision to make because this is a long-term commitment and won’t be easy to walk away from. Of course, you can receive decent income for the use of your land and that’s also something to consider. Even if you’re getting fantastic cell tower lease rates, it’s important to think carefully and not rush into this without thinking of all the possibilities. For more details, visit: https://lucytamajon.com/how-to-lease-your-property-to-cell-tower-companies/