The telecom industry is a rapidly growing market, with new companies and technologies emerging every day. As a result of this rapid growth, the demand for telecommunications towers is increasing as well.
Telecom towers are used to transmit data and voice signals over long distances. They can be used by fixed-line, mobile and satellite telephone providers, as well as broadband service providers such as cable internet and Wi-Fi hotspots.
If you own a property that has an area that can accommodate a tower or antenna, leasing your property to a telecommunication company can be a lucrative business opportunity for you. However, before entering into any legal agreements with such companies, it is important to understand the terms of their contract so that no future disputes arise over them later on. Here is something what you should know.
The law in most states gives landowners certain rights when it comes to leasing their property for telecommunications purposes. These include:
- Receiving fair compensation
- Having the right to approve or disapprove the location of equipment on your property
- Being given notice before any construction begins on your land
If you sign an agreement without reading it carefully, you may find that some clauses have been omitted and others added without your knowledge. You could also be bound by terms that are unfair or even illegal. It’s important that you read any contract carefully before signing it and make sure it’s in writing if possible. If not, make sure there’s an email trail between you and the other party so there’s no dispute over what was agreed upon later on.
If possible, get everything written down before signing any lease — especially if there are any conditions in it that might affect future tenants or buyers of your property.
The amount of money you can expect to make from leasing your property depends on many factors. First and foremost is location — not necessarily where the tower is going to be built, but where its potential customers are located. It also matters if the tower is going to be used for voice or data service, and whether it will serve mobile phones or fixed broadband users (or both).
Another factor affecting how much money you’ll make from leasing your property is how many other landowners have already agreed to lease theirs out — especially if they’re in close proximity to yours.