You love the idea of having a cell tower on your land as you think the cell tower lease rates will give you a second stream of income. It’s a great idea and has the potential to be very profitable for you too. Unfortunately, when you know very little about cell towers, you can often be left confused. Some property owners believe wireless companies should pay more while others are short-changed. The reality is that cell tower leases values vary considerably. So, what is a cell tower lease really worth? Check here!
Demand
Let’s be honest, cell tower lease rates vary and are sometimes, dependent on the demand for cell tower coverage. For example, an area with many cell towers already established will be in lower demand than areas with limited towers. You probably don’t realize that cell towers and cell tower leases are only worth what the demand brings. If you live in an area that already have a lot of cell tower coverage, the demand is likely to be low and that could impact the value of your land and lease.
Location Always Counts
Do you live in a college town that isn’t flooded with cell tower coverage? Do you live in a rural area that needs wireless coverage? You could find costs are higher just by living in the right location. As said, college towns or cities that has limited cell tower coverage will often have higher cell tower lease rates because there is a need for it. On the other hand, rural areas might not offer the most amount of money. For instance, there is lots of open ground and lots of property owners willing to open their land to the wireless company. Some might even be willing to accept a lower rate. So, location always matters.
Don’t Get Short-Changed with Cell Tower Lease Rates
A lot of people think whatever the wireless company offers is sufficient and that it must be a fair price. However, not all companies are going to offer fair market value, even in an area that has limited choice. The reason is because they are the experts, and you aren’t. You might not know what your land is worth to the company and might accept a lower amount. That isn’t right but the company isn’t doing anything illegal in offering you lower cell tower lease rates.
Instead, you need to know every little thing about this industry so that you can be sure you’re getting fair market value. It’s all too easy to get short-changed over cell tower lease rates, especially when you know little about what’s fair. You need to research average costs and look at the demand in your area. You also need to know that companies can walk away if it’s too expensive for them.
Negotiate For a Great Deal
Cell towers are in demand since the expansion of mobile devices. Unfortunately, you could be left out in the cold if you aren’t careful. Cell tower lease rates can be worth your time and energies, but only when you’re compensated fairly. There are many factors that can impact rates and what your lease is worth, including the length of the contract and if you’re in a prime location. Don’t be afraid to negotiate for better cell tower lease rates either. For more details, visit: https://www.christinalakevillage.com/cell-tower-on-your-land-what-you-give-up-versus-what-you-gain/