Many people have generated a vital second revenue stream via leasing out their land for telecommunications companies to erect phone masts on. If this applies to you, it is worthwhile considering how to not only protect the income this brings, but also how other income streams can be created. Taking control of your phone mast site and making sure you are the one driving any change is key to avoiding any nasty surprises.
Although this may not seem vital, the network consolidations telecommunications organisations have undergone in recent years makes it key. With infrastructure such as phone masts being expensive to erect and run, the telecoms companies are always looking for ways to save themselves money. By securing additional income streams from your existing mast, you can help future-proof your income and increase the revenue created.
But what are the best ways to do this?
Get a site audit
There are many landowners who lease their land out for masts that could be due money in back-rent. Some operators have the habit of installing more equipment onto a mast than is agreed under the lease or have missed rent reviews, and if that is the case, you may be able to negotiate a rent increase.
Not only will you get the higher amount going forward but it is usually back-dated to the time the extra equipment was added on or when the rent review was due. Naturally, this not only gives a new income stream moving into the future in terms of higher rent, but also the back-dated sum of money to save in your bank. Not surprisingly, this is one area that most landlords don’t think about, but it is worth doing for the potential new income it can generate.
If you are looking to generate a new less risky rental income stream, then this is one of the quickest and easiest solutions.
The advantages to selling are that you would receive a large capital sum in one payment which can be useful if you are looking to expand into new business areas or need the money. It can also mean you are not at risk of losing out on rental income if the phone mast operator decides to decommission it or that it is no longer needed. With the current consolidation efforts of the telecommunications companies, selling your lease to a professional company removes any stress over this for you while making sure you get a fair financial reward also.
If you are looking for a professional, reliable and experienced premium leasing company, then get in touch with a company who invest in mobile phone mast towers and rooftop antennas.
Companies such as APWireless pay telecoms mast property owners large sums of money for the rights to receive their mast site rent enabling you to turn your mobile phone mast lease into something that gives you security, money and control.