1.
Do-it-your-self.
Try to handle the lease negotiations on your own.
When a property owner is either a control freak or cheap, they will cost themselves and their family hundreds of thousands of dollars over the life of the lease which will last decades.
2.
Assume an Attorney, CPA or Real Estate Agent is sufficient.
Unless these professionals work in the cellular industry on a regular basis, they will miss critical pieces of the negotiations 3.
Trust the individual who has contacted them on behalf of the tower building company or buying company.
These individuals are salespeople there to make money for their organizations, not you.
4.
Us Real Estate "Cap Rates" as a basis for value.
Cap rates make several false assumptions and the use of cap rates reflects a persons lack of expertise in the industry.
5.
Do not maintain proper records.
Poor record keeping can cost the landowner regarding rents and overall value of the asset.
6.
Use other towers in the area as a basis for market rent.
Many times, the entire area is severely under market because the same salesperson has negotiated the entire area downward.
7.
Fail to audit the leased area.
Most landowners forget about the leased area and only focus on receiving the monthly rental check 8.
Extend their lease out of fear.
Extension negotiations on the best time to correct rental rates, which are usually well below market by that time.
9.
Fail to develop a long-term plan for their asset.
This is a valuable asset which should be managed accordingly.
10.
Do not understand the real value of the asset.
They do not understand the value of the asset with relation to the revenue it generates.