Do you have land that you are not using and wondering how you can generate some income from it? Then here is what you can do with it; lease it to a cell phone carrier. But before you lease it to the carrier, there are a few things you need to consider. First, what is your land worth? This is an important question, but before you get the answer, you need to remember that every parcel of land is unique. To help you get the best deal, you need to know three things about cell tower land lease rates.

Land Lease Rates are Different

When it comes to leasing land to cell phone carriers, know that the rate for your land is not comparable to that of your neighbor. Most landowners make the mistake of calling their neighbors and asking how much they leased their land for to come up with a rough figure of how much to charge for their parcel. This is a big mistake. Naturally, we sample the market to compare our offer to others in a similar deal, but this does not apply to leasing your land to cell phone carriers. If you do this, you might end up leasing your parcel at a very poor rate, simply because your neighbor received a similar deal.

This is how you will get a better deal. Hire a good cell tower lease expert to negotiate for you. Cell phone carriers have a team of these experts who have years of experience in negotiating such deals. Going into such a negotiation alone will be committing suicide. They will negotiate a deal that will obviously benefit the carrier and cost you. That is why you need an expert by your side to negotiate the best deal for you.

Counter Their Initial Offer

Never accept the first offer you receive in any business deal. Always counter it. Cell phone companies can sometimes present you with an initial offer that is 300% below market. Before you consider the offer, contact a cell tower lease expert. This expert will evaluate the value of your land and compare it to what is the market standard, then negotiate a deal that is good for you. Remember that most leases last for 20-to-30 years, therefore, signing a bad one will compromise you for that period.

Secure Co-location Rent

Cell phone carriers sometimes allow other carriers to place their equipment on their tower for a fee. Make sure that you hire an expert who will negotiate a co-location rent deal for you. This deal will enable you to also receive rent from the carrier that the original carrier rents their tower to.

Therefore, if you were wondering how to go about leasing a cell phone tower on my property, that is how to go about it.