Property owners often focus on rent amounts and end up missing out on significant values in their lease. In doing so, they effectively tell the carriers such as AT&T and Verizon and tower companies (Crown Castle and American Tower) that you as landlord are willing to trade everything else for increased rent.
Unfortunately, in every wireless lease agreement, there are some 15 very significant financial and non-financial terms that must be negotiated. Without knowing which terms are important, the implications of each, what to ask for, how long to ask for, the industry norm, and consequences of each, many landlords come to us after the damage has already been done.
In 2017, a landlord sent us a copy of their lease to review. The landlord recently renewed the lease for $500 per month until 2047. That’s a 30-year commitment for a rent amount so low we seldom see it anymore.
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This post was written by Larry Heuchert