Q. How long have you been around?
A. Tower Seekers started in 2006. It is now the dba of Ritter Real Estate Services, Inc. based in Carlsbad, CA.
Q. Does our site qualify for a cell tower?
A. Location and space availability are the features that make a good wireless antenna site. Elevation can be a factor. Growing areas and properties near major roadways are desirable. Buildings and structures (e.g. steeples) suitable for concealing antennas are also desirable. Ground space between 300 and 500 square feet may be leased for cell sites.
Q. How much do the cell phone companies pay?
A. Lease payments range between $500 and $3000 a month depending on market and size of leased space.
Q. How long are the leases?
A. The usual lease term is 30 years structured as a five-year initial term with five automatic five-year renewals. The tenant has the unilateral right to renew.
Q. Is a real estate license required to negotiate cell site leases?
A. In California, as well most other states, a real estate license is required to transact these long-term commercial leases. We are licensed by the California Department of Real Estate (License #01304948).
Q. Can’t we do this ourselves or use our
business attorney to review the lease?
A. Few landlords seek professional legal or real estate counsel when approached by the wireless tenant. Those that do are not working with someone who understands this specialized area of real estate and the law.
Q. What about health effects?
A. Please see the published information on this topic. Each landlord should investigate this and make its own decision. Good information is available on the Tower Seekers web site.
Q. Will this affect our non-profit status?
A. No. The IRS has exceptions that allow churches and non-profits to receive this rent tax free.
Q. How much does Tower Seekers charge?
A. For most clients, we are paid on a commission: 50% of the first year’s lease revenue and 15% of each subsequent year. We also charge by the hour for consulting. Rates vary.
Q. Will the tenant conceal the equipment and antennas?
A. In most cases, the tenant will be required by the local government to conceal the antennas. The equipment is usually secured in a fenced compound adjacent to the tower.
Q. Why was I contacted about renegotiating our lease?
A. Many landlords have been contacted about renegotiating their lease payments due to alleged industry consolidation and/or duplicate coverage. Landlords should explore the offer with us before agreeing to accept less rent.
Q. Should we accept a lease buyout offer?
A. Lease buyout offers may be attractive to some landlords. Let us help you determine if a buyout makes sense and ensure you get the best terms.
Q. Will the tenant disturb our worship services?
A. A well-drafted lease restricts the tenant’s activities on the property. Terms need to be added to include such restrictions.
Q. Will the antennas cause interference?
A. We are not aware of any reported interference.
Q. Can we have more than one tenant on our property?
A. If space permits, more than one tenant is possible and desirable.
Q. What exactly does Tower Seekers do for us?
A. Tower Seekers provides full site management services including:
Site visit and cell site assessment
Provide local and regional information on cell tower deployment activities
Meet with client representatives to discuss process and strategy
Develop listing for Tower Seekers web site (photos, description, map)
Attract interested tenants
Facilitate site visits to prospective tenants and vendors
Represent client in all correspondence with tenant and its vendors
Review offers in detail with client
Mark-up lease documents with proposed revisions
Facilitate communications and updates
Maintain day-to-day contact as needed during lease negotiations
Attend city or county planning commission hearing
Ensure timely rent payment
Oversee site construction
Continue to update clients during the lease term
Repeat 1-15 with new lease