For Americans, cell phones are as likely to be in a person’s pocket as car keys or a wallet. In fact, over 90 percent of Americans own a mobile device of some kind.
Do you know someone who has a cell phone tower on their property? Has a cell phone company contacted you directly to discuss this possibility?
There are many benefits to leasing your land for a cell phone tower. Read on to learn 4 benefits of having cell phone towers on your property.
1. Earn Supplemental Income
This is the most impactful benefit of having cell phone towers on your property. Income is generated by a lease agreement with a cell phone provider.
A cell phone tower lease agreement is a great source of supplemental income for businesses, schools, and churches. Perhaps most important is that mobile service providers are reliable tenants that are likely to pay on time and in full.
Make certain to consult a cell tower expert opposed to hire a lawyer to review the proposed lease agreement before signing. Cell tower consultants know more about making sure your contract isn’t one sided and they can get you the best rates because they do this every day.
2. No Capital Investment Is Required
Typically, purchasing a rental property requires a significant upfront investment. This dissuades many people from earning supplemental income because they do not have cash on hand for a down payment.
This is not the case for a cell phone tower lease agreement. Instead, the cell phone provider will be responsible for the capital investment.
The company signing the lease agreement is responsible for the management and financing of the cell phone tower. This leaves you with a recurring lease payment and minimal responsibility.
3. Payments Start Immediately and Can Be Extended Long-Term
Lease payments can start shortly after signing the agreement. Perhaps even more important is that there is potential for long-term income.
Cell phone companies do not plan to construct a tower for a short period of time. Their intention is to keep the tower operating as long as it remains profitable.
This means that you can be locked into long-term guaranteed payments. You will also have an opportunity to increase the monthly lease payment when new agreements are negotiated.
There are a few different reasons why the monthly payment may require an upward adjustment. Inflation and property appreciation are two reasons why a pay increase is warranted.
4. Better Cell Phone Reception
This is an obvious byproduct of living near a cell phone tower. An important caveat, however, is that you must use the same mobile service provider.
There are many positive ripple effects of having better reception. First, is that you will have less dropped calls and clearer conversations. Also, you can conduct business more efficiently and receive a faster response from police and firefighters in the event of an emergency.
Cell Phone Towers On Your Property – Wrapping It Up
Clearly, there are a number of significant benefits to building a cell phone tower on your property. It is a great business decision as you will start earning supplemental income.
In addition, you have the opportunity to improve your cell phone reception. If you want to learn more, please contact us for assistance.