If you currently lease your property for a cell tower, there’s a good chance that someone has already contacted you to see about a cell tower lease buyout. In most cases, these offers come from companies that buy out leases as part of their business. You might have a good reason to sell that will make the decision simple, but it is not always an easy choice. Many leaseholders enjoy the income that comes with having a cell tower lease and are reluctant to pull the trigger. That’s where a cell tower attorney can help. They are experts in cell tower leases and the laws and tax regulations that surround them. There are several considerations with which they can help.
Lease Buyout Offer Details
The devil is in the details, as they say. It’s important with any property transaction to have an understanding of not just the broad strokes, but also all the information about the buyer and the financial aspects of the deal. This means finding out what the financial status of the buyer is, and how likely they will be to follow through on the deal. An experienced attorney knows what to look for, and will determine if the offer is fair market value. They can also help negotiate terms, such as whether you would have to share profits if another cell company wanted to use your property, and how long the term will be.
Cell tower attorneys also have the means to examine the market to determine if it is the right time to sell. Is the market going to take off soon? Is the company currently leasing your property in good financial shape, or is there a chance they may fail at some point in the near future? These are all questions that you must consider when deciding whether to sell your lease. An attorney that understands the market and the industry can help you drill down to what’s really important.
Personal Factors
While the decision will ultimately be yours, there are some factors not necessarily related to the market and the industry that you will have to consider, that you may not have thought of. These are more personal factors, such as your personal financial situation and what your goals are. Do you have a need for quick cash, or might it be best to wait and let your investment grow? While you may have some answers to these questions already, an attorney can provide an experienced perspective. They can also provide you with advice and guidance on those questions, and also give you other things to think about that you had not considered. Having an expert outside opinion that is not influenced by emotion or bias in regards to your property can be exceptionally valuable.
General Ways That a Cell Tower Attorney Can Help
Besides helping with a lease buyout, an attorney can help you with any aspect of holding a cell tower lease.
Negotiating
Attorneys are trained and experienced in negotiating. A cell tower lease buyout, just like the original lease, can be negotiated. Not just the price can be discussed, but also any surrounding terms, such as the ones mentioned above. An attorney will be able to help weigh the offer and work on getting the best deal for your needs. If you are dealing with a large company with more resources than you, it will pay to have someone on your side that can help.
Protecting Your Rights
With any property or financial transaction, you will want someone to protect your rights at all times. For instance, when you are negotiating a lease agreement, the cell phone company may want to put in a disclaimer that you are not allowed to develop on the property. There are other clauses that they may want to include to get the most beneficial deal for them. Some of these might be underhanded, and an attorney can examine those clauses to make sure that your rights are protected.
Protection Against Catastrophe
You never know what might happen. Cell towers are huge structures that seem to be incredibly sturdy. However, there is always a chance that the tower suffers damage or even collapses. Since you own the property, you want to make sure that you are protected and understand your liabilities should something bad happen.
Disputes
A lease is a legal contract, but that doesn’t mean that disputes can’t pop up from time to time. Make sure you have an expert on your side who can help defend you and make sure that you are not taken advantage of.
A cell tower attorney can help you get the best deal on a lease buyout, but they can also help you with the administration of the lease at every stage. It’s an investment that will be well worth it financially and for your peace of mind.