Pointers to pay attention to before signing a cell tower lease agreement
These types of agreements are not the same as that of commercial or residential lease contracts. The reason behind it is that there is a difference with the specific use of the cell towers also known as unmanned contact facilities. The tenant has the mandate to develop the contract and presents it to the landlord which is different from the other lease. It is important that prior to signing the agreement, the landlord ought to go through it and fully understand what it entails. Below are some pointers to pay attention to before signing a cell tower lease agreement.
Make sure that the leased land is specified in the documents. A lot of the tenants will bargain for more land than what they actually need so that they get a lot of control on the space. Some of them actually end up leasing the extra space to other developers leaving you out on the deal. Make certain that you have an idea of the ideal space they need to operate the cell tower and specify the space they will receive. Negotiate for the least amount needed for them to perform their work so as to capitalize on the other part left.Incase they need more land then you ought to charge them at a higher price for them to have it but always account for the extra land in the rent.
Make sure that the lease agreement indicate that the future rent will go up so as to cover yourself incase of an inflation . Putting your land up for leasing might take years in the control of other parties giving full ownership of your land ,in terms of leasing, in the possession of another party.Shun away from having a flat rate of payment but ensure that you negotiate on the manner the rent will rise so that you are able to survive inflation. If you ignore this, you might be forced to make losses.
It is advised that you look for direction before putting your name on the dotted line.The people leasing the area will at all times have their professionals behind them and so you should follow their lead. Invest your time on looking for experts that have knowledge on cell tower contracts and ask for their aid. This sort of people have vast knowledge and will offer you excellent counsel on what to stay away from in the contract. They are at the top of their game and have excellent know-how of what you ought to receive from the deal to be profitable.The specialists have to bargain know how that will be advantageous when putting a price on your rent assisting you to make the most of the deal.Follow their advice, and at the end of the deal you will not regret it.