What does the all knowing beeb have for input? A company called Maverick Towers has approached me and wants to lease a spot on my business property and erect a cell tower. The spot I am looking at won't effect anything we do here on a daily basis. What I know so far is it will be a long term lease, 25 years, with a second 25 year option. They will bring in their own power, 600-800 amps, pull all permits and what not. They will need around a 60' x 60' spot. So far we are talking a $1,000 a month. I already have my company attorney looking at the lease agreement, but wanted to see what the collective knowledge of the beeb has to say.
DON'T DO IT!!! IT'LL FRY YOUR BRAIN AND THEY'LL BE ABLE TO READ YOUR THOUGHTS!!!! LOL That is some nice coin with nothing to do on your part!!
Have some farmer buddies that have a few of them. Good source of extra income for zero work on their part. If it's at a business, I'd for sure do it. If it was in your back yard of the house.. probably not. If you even think you want to, don't try negotiating for more, as I'm sure they have several other backup sites if you balk at it, and losing the deal for an extra couple hundred dollars is not worth it. Just be sure to lease it from the business so it wont effect personal income.
Rob Turner with Intown Legal has a great deal of experience helping people with these type of leases. Intownlegal.com. 404-457-2076 Tell him Tyler Beard referred you. He is my wifes cousin, so.....dropping my name may or may not help.
Also something to think about is making sure there is a 'property restoration clause' in the contract stating that if they ever pull the lease or do not renew after the first 25 years that they will put your property back to the condition it was in before the instillation.
Depends on the location of your business property, what you do at your business, and if your going to be selling anytime in the future. I don't know the value of a cell tower on property but I would think you could get them up a little bit over the 1k a month. They are an eyesore and not everyone wants them lol
Don't know anything about it, but, what I do know is that 12K a year is decent right now, but, 25 years from now, won't be much. I think I'd try to negotiate a 1-2% increase year over year. damn...too slow in the trigger
I have been in the cell tower business since the early nineties. Did a lot of work with land acquisition folks trying to secure property. Basics are they will have 3 search rings. Your property will be one of the three. If you try to ask for too much they simply move to the next target property and move on. These companies are usually willing to go out of their way to get you to sign. In the years I worked at it they paved driveways and put siding on a house. Remember, they are improving your property so you will be responsible for the increase in property taxes. There should be a clause in the lease saying that you will be getting a 5% raise every three years or something to that affect. Also, if they add additional tenants to their tower you will not be entitled to any additional rental revenue. Once they get the site up and running you should only expect to see a technician once or twice a month. Big thing going on now is companies buying out leases. Say you really like your tenant and they up and sell the lease to another group, they could not as easy to get along with so it might cause a headache or two. Never heard anyone complain about getting a check each month for 25 years. If it was my property I say go for it.
Definitely talk to an attorney that specializes in this. My father in law makes a LOT more than that from a tower on his property...I mean a lot more.
The farm that I rent my house on has a tower on the property. He is getting $1800 a month for 20 years from the one and $1000 month from a second. . As said above they can piggy back other carriers off your land without you getting a dime of if it's not in your contract. My landlord has it in his that anyone else on the system has to pay him a fee for using his property as well. He loves the extra income, tech's never cause any issues, and they even helped him finish a dirt road he had out by the tower when they where installing it.
I would guess location must have something to do with rates. A spot is probably harder to get and worth more in a highly populated area versus up here where there's nobody.
Make sure to discuss access to the property.. To erect that tower is a big crane. Can your driveway support it? Will they make a new road, etc.. All of the growing pains we had with a cable station and the city water tower on the property. It is good income yes.. A thought on this also.. Make sure that if they choose to stop using that tower, they are responsible for tearing it down.