Tips for Hiring Consultants to Get You the Best Cell Tower Lease Rates
Current estimates say that 95% of American adults have mobile devices and around 77% own smartphones. That means that cell phone companies need lots of towers to connect all those calls.
Cell towers need certain conditions to operate properly, so they can only go up in certain places. That puts you in line for a lease agreement if you own land in one of those places.
Getting the best lease rates calls for negotiating with the tower company. You can do it yourself or you can hire a consultant. Keep reading for tips on hiring consultants.
Look for Client References
Consultants don’t get licensed, which means anyone can call himself a consultant. If he knows his business, though, he’ll get plenty of client references. Ask for those references before you make any firm agreement.
If the references check out, it’s a good sign you’re dealing with a competent professional.
They Demonstrate Expertise
Lease agreements can prove complicated with any number of clauses. A good cell tower lease consultant should understand those clauses.
Ask the consultant you’re considering to explain update triggers. Update triggers are events that should trigger a change in payment. These should appear in the lease agreement.
Transparent Fee Structure
Consultants use a variety of fee structures ranging from flat fees to commissions. The thing you should look for is a consultant with a transparent fee structure.
That means you understand exactly what the consultant charges and what you get in return. Not every consultant uses them, but you can even ask if they have a fee schedule you can review.
Are They Insured?
Cell tower lease consulting is a business that caters to clients. That means your consultant should carry some kind of liability insurance.
While no consultant knowingly does something that harms a client, mistakes can happen. Liability insurance protects you and the consultant from possible future mistakes.
Do You Get Along with Them?
You don’t need a new best friend in your consultant, but you should feel comfortable with them. Don’t hire any consultant rubs you the wrong way. It’s a recipe for arguments and bad blood.
Keep looking until you find a consultant that’s on the same page with you. You’ll end up happier with their work and the lease they get for you.
Parting Thoughts on Hiring Consultants for Cell Tower Leasing
Hiring consultants strongly resembles hiring any other professionals.
You look for consultants with strong client recommendations. They test their expertise a little to make sure they know what they’re talking about.
You make sure you understand their fee structure ahead of time. Remember, you should never wonder what you’re paying for.
You check on their insurance situation. At a minimum, they should carry liability insurance.
Then, you deal with the intangibles. Do you like and trust the person across the table from you? If not, then it’s time for you to move on to another consultant.
Tower Leases specializes in assisting landowners with cell tower lease negotiations. For more information about our consulting services, contact Tower Leases today.