Land owners throughout the country have been provided with the option of renting out a portion of their properties to cellular carriers or tower management companies. In exchange for use of their property, a monthly rental income is paid to them. An agreement of this nature is referred to as a cell tower site lease.
When cellular carriers identify areas that suffer from poor network coverage, they will usually scout the area for potential sites to erect additional cell towers. Once a suitable cell site has been identified, the relevant land owner will be approached. The cell carrier or tower management company will then present an offer to the land owner regarding the use of his or her property in the form of a cell tower site lease. The term of a cell site lease usually ranges anywhere between 10 and 50 years on average. A land owner then has the right to accept or refuse the lease; however, it is essential to seek professional advice prior to signing any documentation.
After a land owner has agreed to the terms and conditions associated with having a cell tower site on a property, he or she may decide at some point in the future that the lease is no longer a viable option. This may occur because a land owner has to relocate or it may simply not be suitable to continue dealing with a cell site lease any longer. In some cases, a land owner may encounter a difficult financial situation where a lump sum of cash may be needed in a hurry. With the help of a professional tower management company, it is possible for land owners to exit their end of a cell site lease agreement by means of selling it.
The main benefit of selling a cell tower site lease is that land owners will receive a cash lump sum in hand. This enables them to do anything they need to do with their payout. While many people choose to use their lump sum payout to eliminate various debts, others have used it to invest in lucrative ventures elsewhere. Another reason why it may make sense to agree to sell a cell tower site lease is that, should the cell company decide to terminate the deal at any time, the land owner would no longer receive monthly rental income from the site. However, if the lease is sold to a management company, the land owner does not lose any money at the end of the day.
Many land owners are unsure of how to go about selling the remaining portion of a site lease, and as a result, often accept the first offer that is presented to them. Instead, it is best to enlist the help of a professional tower management company like Towerpoint. Not only will they be willing to take over an existing tower lease, they will ensure that land owners receive fair compensation in as short a time as possible.