Verizon and the top cell tower companies have deep pockets. You deserve your fair share if you have a cell tower on your property.
If you are a landowner that has a cell phone tower on your property, you will have an upcoming lease renewal. You deserve to maximize this renewal for all it is worth.
The only problem is that you’re not on equal footing with the big corporations. They could propose contracts that end up withholding thousands of dollars a month.
If you want to maximize your money on a lease renewal, you need to educate yourself. You should also team up with experienced industry professionals that have proven results.
Read on to learn more about Verizon cell towers and how to get the best cell tower lease renewal.
All About Verizon Cell Towers
Exponential smartphone growth has led to the increased need for cell phone towers. Cell phone users are churning through their data at record speeds. They are demanding service in more places and expecting higher connection speeds.
Cell phone giants like Verizon are trying to expand their coverage. They need to stay competitive with all other providers.
To do this, they need more cell phone towers and upgrades made to their existing towers.
The Motley Fool found that there are more than 210,000 cell phone towers in the United States alone.
Top cell tower companies include American Tower Corporation, Crown Castle and SBA Communications. These three companies are responsible for the majority of the cell phone towers in the US.
But there’s also a new player in the industry. The Verge reported Verizon and AT&T recently combined forces.
In 2017 they teamed up to create Tillman Infrastructure LLC. This venture now owns and operates cell towers for these top carriers.
Verizon and AT&T were most likely sick of paying “The Big 3” such high prices, so they started their own company. Now they can set more favorable terms for themselves.
It can also help them to get out of paying extra fees to landowners they have leases with. That includes you!
Location, Location, Location…
In the real estate world, location is everything. That goes for your lease renewal contracts as well.
The value of your renewal deal will depend a lot on location-based factors including:
- Value of your property
- Number of local cell towers
- Value of other local cell tower contracts
- Alternate real estate locations in your area
- Zoning laws
- Environmental due diligence
- Property access rights
An expert needs to asses how your location will impact your negotiations.
Tower lease renewals and technology updates are top priorities. It is cheaper on average for them to improve existing locations than to create new ones.
That means you are in a position to reap the rewards of the current market. Use it as leverage to force a higher monthly or annual rate.
Thousands of dollars a month is a big deal for you or your business. To the big carriers and tower companies, it is a drop in the bucket.
Don’t Go It Alone
You versus the massive cell phone companies is like David versus Goliath. You need a skilled negotiator in your corner. Otherwise, Verizon cell tower representatives will take advantage of your inexperience.
They have experienced sales, real estate and legal teams designed to close deals. Their primary goal is to pay you as little as possible for your lease.
Contract language can be very complex. It’s no easy feat trying to decipher dozens of pages of legalese.
Even experienced lawyers and real estate experts can feel out of their league. The cell tower lease market is that unique.
Team up with the Best
You have the potential to earn a lot of money from Verizon cell towers. Don’t miss out on your chance to capitalize on a favorable market.
David Espinosa is an industry expert with 12 years of experience. He can help you to save hundreds of thousands of dollars on your renewals.
Set up a consultation today to go over your lease terms.