The latest cell tower leasing trick we’ve come across is tower companies using “letters of intent” as a tool to get landlords to sign what they think is a harmless letter. Some people are led to believe that this is “just a way to secure these terms with our bosses” or “just a letter of understanding so we can investigate the use of the site.” Well, these letters are not simple, but I can tell you what they are in many cases… legally binding!
One of the people who fell for this cell site leasing ploy was not naive in the way they did business. In fact, they were very smart real estate developers who assumed they could trust the lovely young lady who was running things for the cell tower company. They signed a very detailed document that locked them into a deal where the carrier could impose his will on the owners. I’m sure Mrs. Charming got a nice financial incentive for taking advantage of this overconfident landlord. This mistake cost them over $250,000.00 in lost revenue, over a thirty year period, which they would have earned had they been properly informed prior to executing their cell tower lease.
Why would I have to sign any kind of agreement before seeing the terms? When buying a car, would you sign a letter stating that you will buy a car for $40,000.00 and hand over your money to them in the hope that they will give you a new BMW when they deliver a 1975 Pinto? No, of course you wouldn’t.
Here is another question for you. Why would someone try to get you to sign something unless it is binding and can be used against you in a court of law? There’s no other reason… this is why they’re trying to get you to sign this. The only person who is caught up in anything is you and usually in a very one sided way and it only benefits the carriers and tower companies.
The cell tower leasing consultants they hire are very charming and friendly and may remind you of your brother, cousin or son. Some are good people who are just doing their job. Many of them are quick buck-sniffing sharks and would push you down a flight of stairs for a nickel. Either way, they don’t work for you… They’re gun-for-hire who work for the carriers and tower companies.
If you are a landlord or property owner and you have been approached by a cell phone carrier or cell tower developer about setting up a cell site on your property, this is the rule for dealing with cell tower companies or carriers who are trying to get you to sign a “Letter of Intent”……. DON’T SIGN ANYTHING!!!!! Call your lawyer or better yet call a qualified wireless consultant who can guide you and fight for your rights and needs. Shippers have experts…why don’t you?