Cell phone carriers often push the limits of their lease related to occupancy and use of rooftop space. Unfortunately, most building owners do not have the time or industry knowledge to thoroughly review what the carriers have installed not only on their rooftop, but inside their building as well. Sometimes a building owner has to catch a cell phone carrier with their hand in the proverbial cookie jar to realize something is not being handled properly.
If your client can answer yes to any of the following questions, they need to review their lease to find options that can optimize their telecom asset.
· Do you have multiple cell phone leases on your rooftop and want to verify that your tenants are fully complying with the terms of their respective leases (including the tenants’ use of areas on and within your building, reimbursement of expenses, and accurate payment of rent)?
· Has a cell phone carrier added more equipment or modified the site during the term of your lease?
· Has your wireless carrier denied you information regarding its occupancy and use of your building citing their “proprietary status” as their excuse?
A property owner needs someone to review not only his or her rooftop lease but also the actual leased area site. Why do this? First, they may be owed money for expenses and rent. Second, they may be eligible for an immediate increase in rent, especially if the telecom tenant has added equipment to the site or modified it. Third, it would be advantageous to confirm what is actually installed on and about your client’s building and then compare that snapshot to what the telecom tenant is allowed to install.
Some rooftop lease reviews have revealed that telecom tenants were underpaying the property owner, or allowed a subtenant to share their leased area, without correctly paying the building owner for such use. Reviews have also determined that telecom tenants have installed additional antennas not allowed under the terms of the lease. Thoroughly reviewing the telecom tenant’s occupancy and use of your client’s property is the best way to ensure your client is receiving fair value for their rooftop lease(s) and compensated for any expenses related to the rooftop equipment.
Hugh has over fifteen (15) years of legal/telecom experience, including representing AT&T as an attorney for over ten (10) years in that company’s acquisition and disposition of telecommunication sites across North America and abroad. Hugh is the founder and president of Vertical Consultants, a telecommunications consulting firm. Vertical Consultants specializes in assisting property owners in optimizing the value of any proposed or existing cell tower or rooftop lease. Vertical Consultants invites you to learn more at www.vertical-consultants.com. Hugh can be contacted at (877) 456-7552.