In 2018, 95% of people own cell phones and 77% of people own smartphones. This means more people need reception and coverage, but this isn’t always offered in every area of the country.
Cell tower lease rates seem to be changing all the time. How can you keep up with the latest information and stay informed?
Luckily, we put together some of the most useful information you’ll find on what trends we expect to see in terms of current tower leasing rates. Want to learn more? Keep reading to find out.
What is Cell Tower Leasing?
People from all over seem to have a need for better cell phone reception. Cell tower leasing is becoming more and more popular due to the demand for more cell service, particularly in rural parts of the country.
Typically, people that live farther away from cell towers are going to have a really hard time getting the reception that people living in big cities are going to have. This is because the signal is not as strong and can’t reach as far.
By using the signal provided by a leased cell tower, people in rural communities are going to be able to benefit greatly from having this increase in high-quality cell phone reception.
Leased cell towers are popping up because people are being contacted to see if a cell tower could fit on their land and if they are willing to be paid for the tower to stay on a specific section of their land.
There are pros and cons to this, but many people love the fact that they are able to make money from doing something so simple. Plus, they get great cell reception.
Current Cell Tower Leasing Rates
The rates for a cell tower being leased will depend on a few different factors because not all locations are equal.
The biggest factor, as you may have guessed, is the actual location where the tower would be placed. It is best to always try and get the towers in locations that will be able to benefit the most amount of people, which may be less ideal for you.
If you live in an area that has a higher population as well, you will find that there is likely going to be an increased need for cell towers in that area.
The rate that you get for leasing a tower on your property could be as low as $10 per month and as high as $15,000 per month. It truly is dependent on the factors that influence how beneficial the tower will be in that spot.
How Can You Become a Lessee for Cell Towers?
If you are interested in tower leasing, you don’t want to let companies take advantage of you.
Not knowing what you are getting into or what you need to ask for can get you in a long-term lease that only benefits the other party.
Contact us and learn more about what we can do to help you as a lessee of a cell tower on your property.