If you’ve recently been approached by a cell tower company requesting to lease your land for their tower, how do you know what your land is really worth? This is a very common question we receive from landowners across the U.S. It is very important for you to understand that every piece of land is valued differently. Here are 4 important things to know when you are determining the value of your land to the tower leasing company.
Never Accept The First Offer Made
- The first offer given by a tower leasing company is always significantly lower than the actual market rate. It is very important to speak to a tower leasing consultation such as Tower Genius to find out what the fair market value of your land and tower lease should be.
Just remember that if you end up accepting the first-rate offered by the company, you’ll have to live with it for the next 20-30 years. So even giving up on a small amount per month can mean a loss of thousands of dollars for the total duration of the lease.
Tower Companies May Ask For More Land Than They Need
- Most tower leasing companies are in the habit of asking for more land space than they actually need. The majority of cell tower leasing company representatives ask for 100’ X 100 leased area that translates to 10,000 square feet of which they will have control over for the next two or three decades.
In reality, they only need a small space of the land. They hope to secure additional land from you so that they can sublease this very same space to other tower leasing companies in the future which adds to their revenue.
Don’t Compare Your Land Value With Neighboring Lands
- One of the biggest and most common mistakes landowners make today is comparing their land’s value with that of the land next to their where a cell tower is already installed. The fact is that most cell tower leases, even those that are near your land are usually poorly negotiated.
Need Help With Tower Leasing?
- When a cell tower leasing company approaches you for a lease, they are usually very well prepared to negotiate with you. Their representatives are trained to acquire a lease with the minimum cost as possible.
When you, a landowner enters into a deal with the tower company, you will be stuck with it for the next few decades. So it is very important that you strike a deal in your favor. If you are not as well prepared as cell tower companies are, you may end up with a huge loss.
This is where Tower Genius comes in. We are a cell tower leasing consultant in the United States with thousands of cell tower lease negotiations successfully completed. We help landowners in the U.S determine the actual value of their land and cell tower lease rates so that they can strike a deal that benefits them. We even negotiate with cell tower companies on your behalf to ensure that the contract is beneficial for both parties. Get in touch with us today if you have been approached by a company for a cell tower lease.