Testimonials
Thank you so much for your insights into the cell tower issues. If I do have any additional questions, I will certainly
give you a call.
Kent from Eastern PA, Cingular Lease Rengotiation
READ MORE TESTIMONIALS
Condo Associations and a Cellular Antenna Lease
Steel in the Air, Inc. regularly assists condo associations and homeowner associations with the evaluation of proposed cellular antenna lease agreements from wireless carriers. As fiduciaries for their constituents, condo owner association (COA) boards and homeowner owner association (HOA) boards have a duty to review proposed agreements to make sure that they are fair and that they benefit the association. As compared to other landowners or property owners, COA's and HOA's are not only tasked with reviewing the proposed cellular antenna lease rate but also any detrimental impact of the proposed cell site or cell tower.
Steel in the Air can review the proposed terms from the wireless carrier and assess whether the proposal is commensurate with other leases in the subject area as well as the nation. We base this assessment on the availability of other alternative sites to the wireless carrier and determine whether the subject property is unique, preferred, or simply like every other property in the area. If the property is unique, we can review how aggressively the COA or HOA can negotiate before the carrier simply chooses not to build the cell site. If the property is preferred but there are other options, Steel in the Air can determine at what point the wireless carrier will simply move to another property. And if your location is similar to every other property in the area, then the fair market value of that cellular antenna lease is what your neighbors are going to charge.
Because there are numerous residents who typically live in a standard condo association or homeowner association, the board may also be required to document what the association is legally required to do in order to lease property to a wireless carrier for a cell site for a cell tower. If your COA or HOA is evaluating a proposed cell site or cell tower and is interested in knowing the legal responsibilities and obligations incurred by signing a cellular antenna lease agreement, please see our webpage located at Cell Tower Attorney - RF Exposure from the Building Owner's Perspective. It is better to find out ahead of time what those responsibilities are than to find out after the cell site lease has been signed.
In most cases our valuations are done on an hourly basis at $500 an hour. Our typical valuation takes around 3 hours for a single lease. The assessment includes a written analysis that can be distributed to the members of the board or to the members of the association directly for review prior to voting on a proposed lease agreement. Our assessments include comparable lease data from other similarly situated properties for building. The assessment will include whether revenue sharing or subletting is appropriate as well as the appropriate escalation rates, option payments and/or signing bonuses.
We can also be retained to review the proposed construction drawings to determine whether not the subject installation will unduly limit future potential for additional wireless users. Please note that we cannot market your property for additional wireless tenants so please don't contact us to request such.
Please don't hesitate to contact us to discuss your specific situation. We are happy to provide a free estimate of our cost and services as well as references from other condo associations or homeowner associations that have used our services.