Wireless landlords beware:
If you see your wireless tenant trying insert a sentence in the lease or an amendment along the lines of “Landlord agrees to grant additional space to Tenant for radio frequency signage and barricades if required by Applicable Law” know that if you agree you’re likely giving up tens of thousand, hundreds of thousands, or even over $1,000,000 in lease revenue over 30 years.
Why?
Because when a wireless carrier needs to install barriers, or otherwise exert control over portion of your building (likely the roof) if required by Applicable Law then the landlord should rent that space, not just “grant” (give) it to the tenant. We’ve been dealing with more and more issues like this recently, and recovering substantial additional rent for our clients.
Words count.
Understanding what the words mean counts.
Understanding how the words can be so simple, yet so negative, count.
Beware and be aware.
Jonathan
