We are negotiating a letter agreement with Crown to add fifty years to the lease in order to extend it and also do a few other things. I have a deadline from them to sign or they will take away the bonus money of a few thousand dollars. If we miss the date will they give us an extension for the money?
Comments for Letter Agreement from Crown Castle International
Do not sign the extension without demanding a significant signing bonus. I have been going back and forth with them over an extension for 2 years. Have Tower Genius help you if you want to be happy long term with your agreement. They keep coming back with better offers every time i tell them no.
Editor's Note: 2 years? Sounds like you need to talk to them too :-)
Mar 03, 2016 Rating
Crown letter agreement... by: Stephen
I would strongly urge you not to sign the Letter Agreement with Crown until you've had an industry expert - namely us - review their proposal and review your lease and the actual cell tower location. It's almost never a good idea to give Crown a 50-year extension from a landlord's perspective. Of course they won't tell you that. Often times the "signing bonus" or "expedite fee" is the carrot that they dangle to get you to agree to extend the lease without a rent increase or other terms that you need. Give us a call to discuss.
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