What Happens after You Get that Lease Approved
Due to the increase in wireless communications, cell sites are now scattered all over America . Several landowners want to have their land leased for cell towers and wireless communications facilities. But, what really happens after the lease is approved?
Leasing a portion of your property for cell sites is also giving the company the permission to install and operate all the equipment needed for the facility. They also have the right to access the property and the responsibility to conduct some tests to determine whether the land is suitable for the tower lease. In case unsuitability is detected, the company shall have the right to terminate the lease even before the agreed date.
In case a landowner gets to lease his land for cell towers, he would be responsible for paying the taxes for his real property taxes, while the company will be the one to shoulder the personal property taxes for its equipment.
The terms or rent, on the other hand is usually renewed every after five years. However, certain circumstances may arise that may lead to the company offering the land owner a total lump sum payment, but still would depend on the negotiation of the landowner and the company.