The opportunity an HOA can capitalize on is negotiating a cell tower lease agreement that ensures consistent rent for years, often decades, to come.
Companies like AT&T, Verizon, T-Mobile and Sprint continue to explore options to meet their wireless customer demands, and part of this search includes the construction of new cell sites across the United States. Cell sites come many sizes, from a traditional tower that is big enough to climb, to an antenna that sits hidden on a rooftop, only seen by those flying over.
Cell phone usage has skyrocketed to the point of near saturation in the US. According to Pew Research Center, 95% of adults have a cell phone & a growing share of Americans now use smartphones as their primary means of online access at home. In 2016, wireless subscribers’ connections hit 377.9 million, with over $1.4 trillion (yep, trillion with a “t”) having been invested globally in the last 18 years. This is BIG business & there are opportunities for landowners to capitalize.
The opportunity an HOA can capitalize on is negotiating a cell tower lease agreement that ensures consistent rent for years, often decades, to come. There are certain pros and cons that an HOA or Condo Association must ponder if a cell tower company or wireless carrier approaches them about putting a tower on their property.