Signing A Cell Tower Ground Lease
Cell tower ground lease is a binding agreement between the lessor(property owner) and the lessee(cell tower firm.) When both parties enter a contract, they mutually agree to some specific terms. Usually, these are rental terms where the landowner will get periodic rents and will allow the company to build a cell tower on his property.
The companies look forward to these arrangements as it is more economical for them to lease properties for their towers instead of buying the land. Also, it does not bind the company to one property; once the lease tenure runs its course, the company can move to another location or ask for an extension in the lease. The reason why companies prefer to go for a ground lease is that it allows them to rent land for as long as they need – at reasonable rentals.