There is a large tower on the back of my property that my aunt leased for years. The company is offering me $375,000 to buy the tower. Is this something that I should do? The tower is several hundred feet tall.
If you take the payout offer that would mean that you don’t get no more monthly payments for the tower being on your property. If you in good health, I wouldn’t take the payout.
Oct 30, 2021 Rating
To sell, or not to sell, that is the question! by: bumper
The cell company built a tower and base building on my property in 1996. Lease was $600 monthly with a 3% minimum increase (now renegotiated 5%). The offered my $30,000 for a buyout back then.
The rent is now $2,000 a month. Last year they threatened that if I didn't lower the rent, I would have a naked tower. I said, no problem, rent is not being renegotiated lower. The latest offer to buy out was over $500,000. My son (I didn't take the call) said another company offered $700,000.
If there's a lesson here, and I'm not sure one can count on past performance, but you will probably come out ahead if you can afford to keep your asset.
BTW, in year two, they offered us $47K and said we would never be offered more. I'm quite sure there's a lesson there!
Oct 29, 2021 Rating
Price is not based on height. by: Steve from Tower Genius
Do you know who the tenants are?
Does your still lease the land to the tower company or does she own the tower?
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