If anyone has ever had this experience, I sure would like to hear some input and advice. Thanks in advance for your responses.
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Yes, our family farm corporation has indeed leased space for a cell tower. Currently we get $7,950 a year, have a five year contract with a renewable clause and a 10% increase in the rent in the clause.
We have been offered a lump sum for a life time lease. That lump sum was about 25% to 35% of what we would get if we continued the lease as it was. We had no reason to take a lump sum. It was a basic bad deal but for someone that needed money now, well that is a good deal for them. It is sort like commercials on TV about getting your settlement money now, its your money but the fail to say, it cost you about 75% of your settlement to get the lump sum.
The cell tower is located in a small corner of the farm that was not arable anyway. And the money is like finding money in the road. It is a nice boost to the farm income (which is leased). We have also leased to the pipeline people a "clean out point." That was a one time payment some 30 odd years ago. And we once sold fill dirt to the railroad, and now have a nice borrow pit pond to fish in. All of these things are sort of co located and have no impact on farm operation.
So my advice is to take the original deal from the phone company. Let them worry about other carriers, getting power, erecting the tower, etc. Payment is reliable and monthly. And you do not have to maintain anything, except grant access to the tower. If a gate is needed, the phone company will probably put it in for you as they are the ones that are going to use it. Once in operation, you rarely see anybody around the tower. They put in a security fence to keep people from poking around and getting into trouble.