Answer
Mar 27, 2016 - 01:38 PM
It is typical to do an option period for a cell tower lease. However, it is atypical to do 3 years. They don't need that long for zoning- they are asking for it because they want to market the property and see if they can make it work. Zoning typically takes 6-9 months with difficult areas sometimes taking 12-18 months.
We always advise that there should be a decent signing bonus for any option. If they aren't willing to pay a moderate signing bonus or option payment, then they aren't serious and they are just tying up the property.
We always advise that there should be a decent signing bonus for any option. If they aren't willing to pay a moderate signing bonus or option payment, then they aren't serious and they are just tying up the property.
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