Have you been approached by one of the three big carriers with a proposal to install a cell tower on your rooftop? Wondering if you should accept the offer?
Renting out your rooftop to a cell tower company is an excellent way to generate a steady stream of income, month after month. But the problem here is – you might end up with the short end of the stick. Whether you have been contacted for a new contract, or in the process of renegotiating an existing contract, or considering a cell tower lease buyout, make sure to read this before you proceed.
Consider The Aesthetics
This one is big. Any equipment that the cell tower company is proposing to install on your roof shouldn’t impact the overall value of your property. We recommend that antennas and other equipment be camouflaged as much as possible. Thanks to advances in technology, today it’s possible to install cell towers without being overly noticed.
Though you’re not likely to use your roof much, ensure that any equipment that is installed doesn’t impact existing equipment like your HVAC systems, flood drains, etc. This is why, we highly recommend hiring a cell tower lease expert like Tower Genius. We’ve helped hundreds of clients negotiate the best terms and ensure that your rights aren’t getting trampled during the contract negotiations.
Don’t Skip The Structural Issues
Cell tower and other equipment can weigh hundreds of pounds. So, if not installed properly with the right supporting beams and other structures, it can lead to structural damages to your property in the future. So, ensure that you bring in an expert to weigh in on the installation and to see that everything happens in your best interests.
Reconsider 24/7 Maintenance Access
Cell carriers will demand that you grant them 24/7 access to their equipment. 24/7 access to their equipment means 24/7 access to your property as well. This can be a huge inconvenience for you down the line. So, when negotiating the contract, stress on the clause that access should be limited only to normal business hours, with additional access only for emergencies. This is a must, especially if the tower is located on the roof of a residential or commercial property with several occupants.
Finally, Don’t Undervalue Your Property’s Worth
Okay, remember that just because a property down the road signed the contract for a lower rental fee you too should follow suit. Even properties that are located next to each other have measurably different values, when it comes to rental income. You can use an online cell tower lease buyout calculator to understand the value of your rooftop site.
With 5G network proliferation, huge changes are coming up in cell towers. The industry is expected to go through a massive disruption in the next five to ten years, specifically by 2030 due to the rapid implementation of 5G networks across the country. So, don’t let obsolete contracts pull you down. Get in touch with Tower Genius, the best cell tower lease consultants to help you get the maximum out of your rooftop cell tower lease.