What are good practices when renewing a Cell Phone Tower Lease?

Question

I am renewing our cell phone tower lease and was wondering what the going rates are all over the country or in South Texas? Is there a signing bonus? If yes How much? How is the insurance handled? How can you attract new companies to lease off our tower? If leased & the current provider sub leases to other cell phone providers what is the shared percentage? And who is a good Cell Tower Attorney to help negotiate the lease?

William Jenkins · Answer

When you say renewing the lease, do you mean that the tower and lease already exists and that it has expired?  If that is truly the case then you are in a unique situation and you need to very carefully consider your options.

Who owns the tower and who are the tenants on the tower?

Joel Owens · Answer

I listed a few cell towers but it has been many years ago.

I talked to this company before and they offered a buyout but it looks like they also provide other services.

Might be something to look into further.

http://www.celltowerleaseexperts.com/cell-tower-lease-extensions-what-value-of-your-lease/

Jennifer Hamilton · Answer

William Jenkins, Thank you for responding. There isn't a lot of information on this type of lease in the open market.

Verizon wants to renew their lease early for an additional 30 years. We currently have 10 years left on the current lease. In the new lease agreement they have a Hold Harmless Clause mentioned several times that states that they will not be held liable for past payments for additional sub leases & not getting approval for such leases. We own the Tower & they lease form us. I would like to find an attorney that specializes in Cell Towers there are non in my area. Main concern is I want to know what a competitive lease looks like.

Our town isn't allowing anymore cell towers to be built in our city limits so I would think our tower could be very marketable. I just need a way of knowing what out there & available.