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Landowners: Tips for Successful Lease Renegotiations
It is important for landowners to protect their interests during lease renegotiations with a wireless carrier in regards to the erection of a cellular phone tower on their properties. It is important that land owners enlist the aid of an operator authorized real estate asset management company to answer questions about the proposed contracts and to aid in the education of landlords about the wireless industry. There are some things that every land owner should keep in mind on how to successfully secure a reliable income with navigating the business of cell site leasing.
If you are a land owner and are thinking about working with a real estate asset management company, you must be sure to always look for operator authorization. There are individuals or groups who may contact you about your lease who may bombard you with a lot of figures but will have no hard facts about your lease agreement. You need to make sure that you only consult preferred, authorized real estate asset managers for your lease renegotiations, because any agreement that you enter into with non authorized parties could jeopardize your cell site rent and can also compromise your relationship with the wireless phone company too. Authorized managers will have letters of authorization that confirm their relationship with the cellular phone companies.
Next, you need to be aware of false claims regarding your lease renegotiations. Many land owners receive daily calls from groups who claim that they are able to make the land owner more money on their cell site, and these schemes often require the land owner to assign their lease to a third party. They are then paid less than market value for the lease assignment with the promise that the third party will market the site to additional operators and split future rents with the land owner. This is an empty promise, because operators will not find your site.
Finally, the best tip to get the most out of your lease renegotiations is to take the time to read your proposed lease. Authorized real estate management companies will spend ample time educating land owners regarding everything that is included in their agreements, including terms about rent, renewal and termination terms as well as maintenance stipulations. Everything you need to know about the rent and the stipulations of your agreement is recorded in the lease, and every partys rights are clearly outlined in black and white to avoid any ambiguities in these important lease renegotiations.
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