Course description
Current Issues in Cell Tower Leases
Understand the terms of your cell tower lease and avoid provisions that harm property values and the future use of the property.
This topic provides the A-to-Z basics of cell tower leases and lease sales and is taught by two faculty members with decades of experience representing property owners on cell tower leases and sales. This material covers entering into a lease, renewing a lease, and selling a lease while emphasizing rents, sales prices, terms, and in particular, avoiding provisions that harm property values and the future use of the property. This material will help property owners and attorneys who only occasionally deal with cell leases be better able to negotiate with wireless industry personnel who work on leases every day.
The program starts by covering key business issues in cell site leases, including lease rates, who gets the revenues from additional antennas or carriers being co-located at a site, the rent increases possible at renewals, avoiding clauses that interfere with the normal use of the property, and why 5G service should have little impact on the preceding. Why leases for rooftop and side-mounted building antenna sites are more complicated, requiring special provisions, is then addressed. After covering more conventional lease terms, the program addresses the sale of cell leases and future leasing rights. This includes typical sale prices (often around 210 times monthly rents), when to sell and when not to sell, and how to get the best price and terms in a sale.
An emphasis is avoiding sales terms which the presenters have seen destroy a property’s value by preventing its normal use and development. For municipalities, the topic addresses additional key items in cell leases and lease sales that are unique to them.
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Who should attend?
This live webinar is designed for
- attorneys
- planners
- directors of development
- project managers
- government administrators
- council and board members
- land use officials
- public works and utilities directors
- municipal government officials
- engineers
- surveyors and real estate professionals.
Training content
Entering a Cell Tower Lease
- Basics of Cell Lease Rents, Getting Rents From Additional Companies on the Tower
- Increasing Rents at Lease Renewal
- Location of Leased Area, Access and Utility Easements
- Final Survey, Engineering Drawings Needed Before Signing
- Changes and Modifications to Lease, Leased Area
- Identifying, Avoiding Terms Which Harm the Normal Use of the Property
- Utility Service and Backup Power Supplies
- Relocation and Right of First Refusal
- Insurance, Bankruptcy Protections and Other Key Lease Terms
- Rooftop Cell Antenna Leases Very Complicated, Special Lease Terms Needed
- How 5G Deployments and Industry Consolidation Affect Leases
- Maintaining the Visual Appearance and Structural Integrity of the Building
Selling a Cell Lease
- Typical Sales Prices – Using Bid Process to Get the Best Price, Often 200 X Rent
- When Cell Lease Sales Make Sense, and When They Don't
- Selling Property With a Cell Lease – Sell or Retain the Cell Lease First
- Avoiding Terms That Harm Property Values, Limit Future Property Development
- Length of Time for a Sale, Start to Finish
- Lease Terms That Impair or Prevent a Sale
- Rooftop Antenna Lease Sales More Complicated, Special Terms Needed
- Addressing One-Sided Sales Documents
- Buyer Compliance With Building, Safety Codes
State and Local Government Issues
- Bond Counsel Approval Often Needed
- Dillon's Rule, Governmental Authority for a Sale
- Property Specific Restrictions, Reverters
- Procurement, Waste Issues
Drafting and Counseling Issues
- Business Pros and Cons
- Visualizing the Deal (Ground Level Sites; Rooftop Building Sites)
- Getting Multiple Offers via an RFP Process
- Reimbursement of Property Owner's Legal Fees and Other Transactional Fees
Costs
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Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...