Your buildings and rooftops may hold unrealized assets. As cellular technology evolves, the volume of antennas and need for real estate locations continues to grow significantly.
Although 5G technology provides faster response, it travels just a fraction of the distance of traditional cellular signals. As 5G is rolled out across the country, the demand for additional cellular towers and antennas is needed so carriers can provide adequate signal coverage.
What Is A Cell Tower Lease?
A cell tower lease is an agreement between an owner of a multifamily owner and a wireless carrier. Carriers are seeking buildings where they can install antennas and equipment. Your rooftop may provide a desirable location for a carrier and can bring in significant revenue for the property.
Timing is Everything
The demand is driven by the carriers and where coverage is needed.When a carrier identifies an area requiring additional antennas, multiple property owners will be approached. That might be other MDUs or commercial sites. Often, property owners are solicited by a third-party company that procures leases on behalf of a carrier.
If an owner is slow to act, the leasing opportunity might be lost to another property in the same area who signed the leasing agreement first. Choice has systems in place to proactively manage this opportunity. We are continually circulating property lists with third party and cellular companies who are searching for new device locations.
Impact to Residents
Today, antennas can be visually unobtrusive and can look like part of the building architecture. For example, a false dormer might be installed on a building to disguise an internal antenna.
Savvy contract negotiations and management can minimize property inconvenience. The antenna installation will require construction and the carrier will require periodic access to their equipment for service and maintenance.
Understand Your Lease
Your properties may hold the key for valuable ancillary income. Careful evaluation of the terms of your lease is imperative. In these negotiations, Choice represents and protects your goals and interests such as access rights, aesthetic appeal, roof damage and zoning requirements while maximizing revenue opportunities.
Cell Tower Leasing
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