Voted Best Answer
Aug 13, 2021 - 08:56 AM
At 35 years old, if the tower hasn't been well maintained, you could easily erase 5-10 years of rent at $1200/year with one failed inspection or maintenance issue. Seems pretty clear to me that you should first attempt to renegotiate the lease with the current tenant. Provide them notice of termination - and let them know that you will consider letting them stay- but the rent needs to be increased. If you can't increase rent, then hard to see how this works.
One of the key things to consider is what the remaining structural capacity is on the tower. Older towers are typically underspec'd for today's equipment.
I am assuming the tower is less than 200' AND farther than 5 miles from a public airport. Otherwise it needs to be lit and monitored for air traffic safety and you would be close to losing money if the rent is only $100/month.
Regarding a moritorium, under federal law, it can't last for more than a limited time frame- typically less than 6 months. While it may be difficult to build a new tower nearby, there is always a possibilty of "replacing" the existing tower with a stouter one especially if zoning is difficult.
We can certainly evaluate whether another provider might be interested- but we rarely find that it is worthwhile to retain us to do this evaluation. Towers rarely sit vacant because wireless providers aren't aware they are there.
One of the key things to consider is what the remaining structural capacity is on the tower. Older towers are typically underspec'd for today's equipment.
I am assuming the tower is less than 200' AND farther than 5 miles from a public airport. Otherwise it needs to be lit and monitored for air traffic safety and you would be close to losing money if the rent is only $100/month.
Regarding a moritorium, under federal law, it can't last for more than a limited time frame- typically less than 6 months. While it may be difficult to build a new tower nearby, there is always a possibilty of "replacing" the existing tower with a stouter one especially if zoning is difficult.
We can certainly evaluate whether another provider might be interested- but we rarely find that it is worthwhile to retain us to do this evaluation. Towers rarely sit vacant because wireless providers aren't aware they are there.
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And the plot thickens...the darn tower was erected in 1968, a ROHN 42G, apparently only 150' I don't see this as asset but rather a cost. current owner never carried insurance, is it typical to carry any insurance for the tower? I looks like terminate lease and remove tower and develop land is best for me...Appreciate you insights.
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