Are You Getting Fair Cell Tower Lease Rates?
Did you know that 95 percent of Americans own a cell phone? That’s a 33 percent increase from 2002. This number is expected to keep rising steadily.
The demand for mobile phone services has pushed cellphone companies to keep looking for ways to increase their coverage. Many of these companies are leasing cell towers. But, most of them aren’t paying fair rates to the landowners.
Do you have a lease with one of these companies? Are they paying you the cell tower lease rates your deserve? Not sure?
We’ve you covered. We’ll tell you all about the average cellular tower lease rates and how to get the best deal.
What Influences Your Cell Tower Lease Rates in 2018 and 2019?
A wireless phone carrier contacted you asking if they can lease a piece of your property or land to put a cell tower on it. They sent you an initial offer. What factors can influence your cellular tower lease rate?
The main factors that determine cell phone tower rental rates are location, zoning, supply, and demand. Your zoning and location will determine if the carrier can locate the cell tower at your site. Like in any business, supply and demand will influence your cell phone tower lease rates.
If there is a high demand for coverage in your area and low supply, you might score higher rent rates than other nearby areas. But, don’t cut yourself short if your location isn’t in demand. You might secure a great rate most of all if you negotiate your contract.
How Much Do Cell Towers Pay Landowners?
Most of the time, a phone carrier’s initial offer is up to 300 percent lower than fair market value. Don’t forget that the lease will lock your rate for 20 to 30 years. It’s essential that you research the average cell tower lease rate in your area.
Cell phone tower rental rates can vary from 10 to 10,000 dollars per month depending on the phone carrier. A major phone company can pay up to 15,000 dollars a month in accordance to the space rented and location.
The average cell tower rental rate in your neighborhood can give you an idea of how much the carrier may pay you. But, it won’t influence your rental rate. All lease rates are determined on a case by case basis.
Remember that the factors we discussed may influence your lease rates. It’s recommended that you get a cell tower expert like David Espinosa to negotiate your offer to make sure you’re getting the best rate and terms in your contract. An expert can guide you during the process and even negotiate your rates better than any individual can because they have direct relationships with the executives and owners of each cell phone company.
Can You Get Fair Cellular Tower Lease Rates?
Yes, you can get fair cell tower lease rates today in 2018 and going into 2019. The rates paid by phone companies may vary depending on factors such as location, zoning, supply, and demand, among others. Before accepting any offer, it’s important that you research your market.
How do you stand against your competitors? What makes your site the best choice for major carriers?
These are some of the questions that can give you a better idea of your site’s potential. Even if this isn’t your first cell tower lease, it’s recommended that you consult an expert. They can provide the guidance you need, review and negotiate your contract.
Did a phone company contact you regarding a cell tower lease? Want to get the best deal? We can help!
Contact us today for your free consultation.