Cell phone tower easement vs. lease
by Brit S.
Our cell phone tower has been sold to a new company. The current lease was entered into in 1995 with two ten year rights to renew. A third party has purchased the tower from the company we originally leased it to. This new company has recently mailed me an offer to do one of the following: 1) grant them a perpetual easement for a one time payment of $35,000 or 2)enter into a lease agreement that will give them five additional years effective at the end of the lease agreement (Sept. 2025) with the option to renew for 5 additional 5 year terms at the same rate we originally leased it at ($500 per year) plus a $2500 signing bonus. Based upon the rates I see others getting in this forum, it appears that the original lease amount of $500 per year back in 1995 was a steal for tenant. I don't want to make the same mistake this time around.
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