The last cell tower rental trick we’ve come across is from tower companies who use “letters of intent” as a tool to unwittingly trick owners into signing what they believe is a harmless letter. Some people are led to believe that this is “just a way for us to lock these terms with our bosses” or “just a letter of understanding so that we can investigate site usage. “. Well these letters aren’t straightforward but I can tell you what they are in many cases … legally binding!
One of the people who fell in love with this cell site rental scheme was not naïve in the way of doing business. In fact, they were very savvy real estate developers who thought they could trust the lovely young lady who took care of things for the cell tower company. They signed a very detailed document that locked them into a deal where the carrier could impose its will on the owners. I’m sure Mrs. Charming got a nice financial incentive to take advantage of this overconfident owner. This mistake cost them over $ 250,000 in lost revenue, over a thirty-year period, which they would have obtained had they been properly informed before executing their cell phone tower lease.
Why should you ever sign any type of agreement before seeing the terms. When buying a car, would you sign a letter stating that you are going to buy a car for $ 40,000 and hand over your money to them hoping they will give you a new BMW when they deliver a 1975 Pinto to you? ? No of course not.
Here is another question for you. Why would someone try to get you to sign anything unless it was binding and could be used against you in court? There’s no other reason … that’s the reason they’re trying to get you to sign this. The only person that’s locked into anything is you and usually in a very one-sided way that only benefits the carriers and the tour companies.
The cell tower rental consultants they hire are very charming and friendly and can remind you of your brother, cousin or child. Some are good people who just do their job. Many of them are sharks that smell like quick money and would push you down a flight of stairs for a penny. Either way, they don’t work for you … They are mercenaries who work for the carriers and the tour companies.
If you are an owner or landlord and have been approached by a mobile operator or cell tower developer to set up a cell site on your property, here is the rule of thumb for dealing with tour companies or operators. who are trying to get you to sign a “Letter of Intent” ……. DO NOT SIGN ANYTHING !!!!!!! Call your lawyer or, better yet, call a qualified wireless consultant who can guide you and fight for your rights and needs. Carriers have experts … why not you?