Have the plans reviewed by best in the nation, Nick G. “ Trust, but verify” – Ronald ReaganĪlways have any cell tower or cell site plans reviewed by a cell tower lease expert. Sometimes we review plans and find the tenant has been in breach of the lease for over a decade! In a situation like that they owe our clients, the landlord, back-rent and future rent to settle the breach.
They may know that they are expanding outside their client’s footprint, however, it is up to you to catch them. Remember that the representative for Verizon is not always going to be truthful or straight-forward with Verizon’s project. Their site acquisition agent presents the plans requesting “landlord consent”, however, after reviewing the plans it is clear it is an expansion. Often we review Verizon plans and drawings for their rooftop installations with antennas installed on the roof or the facade of the building.
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Generator projects aside, Verizon has been actively expanding their footprints in plans presented to landlords especially rooftops. When Superstorm Sandy hit the eastern United States in 2012, roughly 25% of the wireless networks in the area were offline. According to the FCC, When Hurricane Katrina hit it knocked out 1,000 cellular sites in New Orleans in 2005. This action is in response federal legislation requiring cell tower generators at all locations in response to Hurricane Katrina. Verizon is also one of the few US carriers pro-actively installing cell tower generators outside their lease area.
Verizon Wireless is always expanding their footprint. Capture Rent With Verizon’s Expanding Footprint Goliath, we want to share with you a few tips on leasing to Verizon:ġ. Their goal is not to put more money in your pocket or to get you better terms. Their goal is to secure the lowest rental rate with the most favorable lease terms for Verizon. Verizon’s real estate representatives are experts in cell tower leasing. Still it is important not to be taken advantage of when dealing with the 800 pound gorilla that is Verizon.
It is great that Verizon wants to be your tenant. According to mobile evaluator RootMetrics, Verizon Wireless maintains the best mobile network carrier for overall quality in the United States. Verizon Wireless is a very stable wireless provider with a low risk of removing their cell towers in the near future. A Verizon cell tower lease agreement typically pays landlords some some of the highest rents in the industry! With a market cap of over $133 billion Verizon Wireless (NYSE: VZ) is THE 800 pound gorilla! However do not fear! The financial strength of Verizon can benefit you as a credit worth tenant ready to pay you rent. The Value Of Your Verizon Cell Tower Lease Agreement
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