@Kristin the lease rate sounds low to me. You must also make provisions for if and when other carriers get added to the tower. The lease rate should go up. My friend may be able to help you. His name is Brad at WirelessInvestmentGroup.com He mainly sells cell tower leases for people, but he could probably give you some good advice and help you avoid getting ripped off. And a good lawyer would definitely be a good idea.
@JamFlowMan, thank you for your post.
We actually negotiated the Cell Lease (really an Option at that point) over a year ago.
We spoke to many people including a Local Expert who worked for a Cell Company (where this person’s previous job was specifically to negotiate Cell Tower Land Leases).
This Local Expert knew exactly who the Wireless Customer would be (booster tower).
This Local Expert also recommended that we ask for more money per month versus asking for profit sharing (getting more money IF other carriers are added).
There is a fine line when negotiating a Cell Tower Agreement.
Typically, you are NOT the only option for a Cell Tower. The Cell Tower Company has a map with a large circle covering multiple properties that they are looking at.
At that particular moment you might ‘appear’ to be the ‘easiest’ avenue. However, if you ask for too much or cause too many issues, they can and will quickly move on to another Property Owner.
We spoke to an individual who owns quite a bit of acreage. This individual ended up with a Cell Tower Agreement on one of their parcels of land. However, when another one of their properties became a prime area for a Cell Tower, they were actually passed up in favor of their neighbor who was a ‘Contiguous Property Owner’.
If you find yourself in this situation, please pursue all your options and get advice from the Experts.
We wish you the very best!
UPDATE - CELL TOWER:
We have a Mobile Home Park that has a Cell Tower.
In 2016 a Cell Tower Developer actually literally “knocked on our door” concerning placing a Cell Tower in one of our Mobile Home Parks.
This is a thread concerning that experience.
When we were going through that experience, another Mobile Home Park Owner was kind enough to speak to me concerning his Cell Tower. This MHP Owner did warn against allowing the Cell Tower Company of having “Right Of First Refusal” when selling the MHP.
Ultimately, we did come to an agreement and a Cell Tower was built in a corner of the Mobile Home Park.
We wish those considering a Cell Tower the very best!
Don’t cell towers cause cancer? Could be a lawsuit down the road…
* QUESTION #2: As a MHP Owner if someone approached you with installing a Cell Phone Tower would you consider it?
Not for me… Even if they try going offer me $1 million for 5 year lease for putting their dangerous EMF/RF invisible waves phone tower in my MHP property, I would simply said NO… Not a slight hesitant. I just preferred not to be suffering the consequence diseases and sames goes for tenants in my MHP. Eventually many phone towers will upgrade to G5 level more stronger invisible waves and something I don’t want see the tenants suffer so slowly and cooking alive if they were inside the giant microwave box with ultra low power setting.
If I was cold blood like Scrooge person and decided go ahead Installed the radio tower in my MHP… Sure I could get rich for awhile perhaps for some years and don’t care tenants health problems… But what if smart tenants discovered the radio tower causing them the diseases and trying to sue the radio tower in first place then also found out the radio tower was part on my property, then tenants could take advantage sue me in court for not disclosure of “radio tower health hazards” to them.
So be careful! Sometime we can’t be too greedy like Scrooge with all the money but be thoughtful on tenants sometime and they are ones who keep MHP business alive and even better if all tenants are strong good in health and more likely they will be very happy stay in their little sweet home for many years to come.
The phone provider leasing the tower kept coming back to try and purchase the land.