Why You Need A Cell Site Management Plan
Cell site landlords with three or more leases need a management plan. We recommend reviewing your leases annually and setting up a calendar of important dates. For example, if the rent escalates annually, insert a calendar reminder to verify the rent increased per the lease. Also, check the amount to make sure it is accurate. Some leases have the dreaded CPI escalator which requires the application of a formula to determine the new rent amount. Don't rely on your tenant to do this correctly. Other calendar reminders should include term expirations and a bi-annual lease valuation.
Managing multiple leases can be challenging. Some landlords such as school districts have five to fifteen leases all on different locations and timelines. Just keeping up with who the tenant is can cause headaches. Besides the annual rent check described above, at least every other year, the landlord should make a visit to each site looking for any changes, maintenance issues, or repair needs.
For some landlords, it makes sense to pay someone to handle the management of the cell site leases. The manager should be able to demonstrate how to either save the landlord time and money, make the landlord money or both. Landlords with multiple leases should see a return on their investment.