If you have a property where a cell phone tower company wishes to set up a tower and pay you rent, you should be able to get the highest possible amount you are entitled to. In many cases, people are not really aware of what the fair cell tower rent for their property should be. There is every possibility they are getting short-changed. You will need a consultant who specializes in this field and will be able to negotiate a better deal with the company.
Location of your Property Alone is not the Only Determinant
There is a general myth among the public at large about the rental value for their property being offered by the cell tower company for erecting their tower. It is assumed by most people that the market rate that is prevalent in the area where their property is located is the guidance value for calculation of the amount they can expect to receive as the cell tower rent. Often, the agency engaged by the cell tower companies to acquire the properties for cell towers and enter into cell tower leases with individuals and other property owners, can mislead them to the benefit of the cell tower company.
Existing Lease Extensions and New Leases
The best way for the owners of properties who are keen to offer space for lease for erecting cell phone towers, as indicated above, is to utilize the services of a consultant. The consultant would work on your behalf in working out a better deal for you. Both, for those who already have cell phone tower leases and the others who are going to enter into a lease for the first time, the consultant would bring in his expertise and experience in the field to assist you. He would bring in the facts and figures which are relevant for arriving at the correct lease rental value and which cannot be denied by the tower companies or their acquisition agent. These would include the actual revenue being earned by the tower companies based on using the tower erected on your property. There may be cases where you might have given the property on lease, but the tower company might sublet it to some other company to make more dollars from that arrangement. You should rightfully earn a share of the profit the company is making out of such a sub lease.
In the case of a new lease arrangement also, the local regulations, the need to meet the requirements of the FCC and FAA clauses will all have to be factored in.
Other Factors Critical to Calculating the Tower Lease Rent
Besides the above, there are factors which count when the cell phone tower lease rates are fixed. These include the consideration if the property is in a thickly populated area; a case of supply and demand. Moreover, the difficulty levels in obtaining permissions from the local authorities could also lead to higher valuations of the property in question, and the owner can manage to get a higher cell tower rent for the property. Then the ease of approach also matters and for ensuring that all these factors are duly given the proportionate weightage in arriving at the compensation, the consultant’s role is vital.