I've been approached about a company placing a cell tower on my property. Does anyone have any experience as to the contract terms, lease rates, etc?
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I do have experience with the landowner side of contractual agreements, etc. I handled title and land work for a local ranch and we renewed the old leases that had expired and revised the lease to reflect compensation for subleasing of the tower. A lot of landowners do not realize that the owner of the tower will sublease tower space to other entities. What we put in place on top of the compensation for the lease was to get a percentage of the sublease profit. Make sure you get the sublease language in your agreement. More than likely they'll give you a lease package and you'll redline the crap out of it. If you have an attorney friend who deals in O&G or land work it would be well worth your time to get them involved.
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Originally posted by PanhandleAggie View PostI do have experience with the landowner side of contractual agreements, etc. I handled title and land work for a local ranch and we renewed the old leases that had expired and revised the lease to reflect compensation for subleasing of the tower. A lot of landowners do not realize that the owner of the tower will sublease tower space to other entities. What we put in place on top of the compensation for the lease was to get a percentage of the sublease profit. Make sure you get the sublease language in your agreement. More than likely they'll give you a lease package and you'll redline the crap out of it. If you have an attorney friend who deals in O&G or land work it would be well worth your time to get them involved.
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I've heard you have to be really careful with these arrangements. E.g. what if the tower is no longer used? Does somebody maintain it? Remove it? I found a good discussion on this question some time back, and still have the link:
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Originally posted by PanhandleAggie View PostI do have experience with the landowner side of contractual agreements, etc. I handled title and land work for a local ranch and we renewed the old leases that had expired and revised the lease to reflect compensation for subleasing of the tower. A lot of landowners do not realize that the owner of the tower will sublease tower space to other entities. What we put in place on top of the compensation for the lease was to get a percentage of the sublease profit. Make sure you get the sublease language in your agreement. More than likely they'll give you a lease package and you'll redline the crap out of it. If you have an attorney friend who deals in O&G or land work it would be well worth your time to get them involved.
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