Extending or Amending a Cell Tower Lease Agreement
Have you been approached by your tenant and are considering extending or amending your cell tower lease agreement? Is your tenant offering something that sounds too good to be true? Do you want to know what is the “catch” from experts that have been in the industry since its inception?
“Thank you so much for your recent assistance in the renegotiation of our cell tower lease. I have been an active investment real estate owner, and developer for over 20 years. This has included my oversight of multiple cell tower land leases on our properties…” [read more] – Robert Z. – 2301 Associates, LLC
What is the Difference Between a Lease Extension and a Lease Amendment?
A lease amendment is an agreement signed by the landlord and the tenant to alter the terms of the lease. A lease extension, also known as a lease renewal, is a more specific way of describing the type of lease amendment. However, their are some requests for lease amendments that do not include a lease extension. For instance, a request to enlarge the leased premises or to add a subtenant to the cell tower.
The Industry Is Over 30 Years Old
It is now over three decades since the beginning of the cellular industry. Many of those leases need extending as they near the end of their term. The wireless carriers and tower companies are not billion-dollar companies by accident. They have strategically negotiated leases to their advantage to maximize their profit. Can you imagine what you would have done 30 years ago if you just had the knowledge at that time?
My Lease Does Not Expire For Many Years?
Companies like Crown Castle, American Tower, and Verizon, or perhaps one of their agents such as The Lyle Company, BlackDot, Tower Alliance or MD7 have contacted you to maximize their own profit – not yours. In many cases, the have reached out to you more than ten year prior to your lease expiring in order to secure a lease renewal. One simple reason for this is so that they can know all of their options as the lease expiration draws closer.
You Don’t Become an Expert Overnight
The experts at Tower Advantage have reviewed and negotiated hundreds – if not thousands – of cell tower leases using their vast industry knowledge for your benefit. As you can imagine, the more you know in a negotiation, the better chance you have to come out ahead.
Without the proper background, knowledge, and experience in the cell tower industry, many landlords will almost guarantee that the some important provision in their lease will be neglected. Unfortunately, we have seen these mistakes cost tens of thousands of dollars, and the loss of substantial protections for property owners who do not hire a proven cell tower advocate.
Preparation Meets Opportunity
Tower Advantage uses a proprietary method of negotiation to ensure our clients’ success – both monetarily and otherwise. Just some of the considerations we look at – some not generally known to the public – include the type of cell tower site, type and use of equipment, potential for expansion, traffic and competition for the site, and potential pitfalls other landlords have experienced based on the same factors.
Now, you have the chance to even the playing field from experts that have worked on both sides of the cell tower industry. The industry has significantly changed over the past 30 years, so don’t you think your lease requires a significant update as well.
Contact Tower Advantage today to learn more about how we
can help with extending or amending a cell tower lease
agreement for your maximum success.
(833) MY-TOWER
(833) 698-6937
