Will you contact a cell tower consultant when the current cell phone tower lease runs out? A lot of property owners don’t really think too much about their leases expiring as they think the companies will automatically renew the agreement for another few years. However, some companies may choose to go elsewhere and that’s something which you have to consider greatly! In all honesty, cell phone companies may decide they want to look elsewhere and if the lease is about to expire, you might find there is no renewal!
Research Your Rights
When it comes to a cell tower lease expiring, you have to firstly know your rights as the property owner. If the cell phone company wishes to renew the contract, will they want to build a new tower or add existing towers? If that’s the plan, you have to know your rights over these and whether you’ll be able to put a stop to these towers if you’re not agreed to them. Understanding your rights and legal obligations can be so important when it comes to tower leasing. It’s important to know your rights so that something doesn’t happen without your knowledge or acceptance. Click here for more detail about cell tower lease agreement.
Consult a Cell Tower Consultant
Consultancy is vital when the lease agreement is about to run out. You don’t know what will happen. Sometimes, the companies might automatically renew it, but is the deal still fair? Are you getting market value for the land they’re leasing? Are you happy to renew the agreement? These are the things you want to consider when it comes to a cell tower lease. It’s very important to consult a consultancy agency so that you know where you stand and what the next best move to make is. Get more about cell tower location and development on https://www.sagecountryinn.com/cell-tower-development-how-are-cell-tower-locations-selected/
Know the Local Cell Tower Revenues
Do you know what the local revenues are for the tower? When your lease contract is about to expire, you have to know what the area still has to offer to the companies and yourself too! Why? Companies might want to look elsewhere, but if you can approach them with some useful information about why they should stick with you, it might make it easier to renegotiate and get a second contract in place! You need to speak with a cell tower consultant and get their advice over what you should do. Some consultants may take the initiative and try to get the companies to get a new lease agreed to. However, you need to know the costs and whether it’s still viable to the companies and profitable for yourself too. Learn more about property tax treatment of cell towers.
Take Action When You Want To Renew a Lease
Sometimes, you can’t assume the company will renew the lease with you once the agreement is about to expire. You might find some companies want to renew the lease for another twenty years, but others might say they want to look elsewhere. No matter what happens, you have to take action. You have to know your rights, responsibilities and obligations. With a cell tower lease, it’s important to renew quickly before the lease expires and get a good deal too.