Pointers to pay attention to before signing a cell tower lease agreement
House and commercial lease contracts differ from cell tower lease agreements.This is because of the specialized utilization of the cell tower which is also referred to as unmanned communication 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.
It is important to indicate the amount being leased on the contract.Most carriers will ask for more than what they need to have more control on the land. It has been seen in the past that the tenants end up renting the additional space to other parties making profits for themselves. 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. Bargain to the best of your ability so as to lease them the least amount they may need and to enable you get profits from the rest of the area.If by chance they insist on the additional space , make certain that you make the pay for it and indicate it in the legal document.
Ensure that the contract points out that the rent will go up in the years to come because of the chance of economic 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. Stay away from permanent flat rent but you ought to bargain on a system on how you will be able to rise the rent eventually as the time goes on. 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.It is good that you bring your specialist to the table because the tenants will have theirs.Utilize your time in looking for specialists who have knowledge in such proceedings and request for their backing.This type of professional will guide you on what is acceptable and what to avoid in the lease. 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.