American Tower demanding to reduce lease payment

by Dan
(Dove Creek, CO USA)

The 198ft American Tower on my property in Dove Creek, CO has not had any tenants on it since the tower was installed in 2001. I have a 50 year lease and I think they just picked the wrong location. They have contacted me 4 times since 2009 to reduce the annual lease payments or to take a ridiculous buyout of less than $20,000. I have refused each time as there is nothing in my contract about renegotiating the payments. And, I have said repeatedly that they can take the tower down as it is nothing more than a lightening magnet! Now it appears that they have, "Issues going forward with lease payments." Any history that you know of dealing with this situation or advice? Thanks.

Comments for American Tower demanding to reduce lease payment

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Apr 12, 2017
Rating
starstarstarstarstar 		Collect rent for as long as possible
by: Steve

This is a drop in the bucket for American Tower. They can write off the loss. They have expensive mahogany credenza's in their posh HQ so they can afford to pay.

I'd ride this out for as long as I could.
Mar 30, 2017
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starstarstarstarstar 		Tower Removal
by: Dan

Steve,
I have no control as to whether the tower stays or is removed. I am assuming that eventually with no tenant(s) on the tower that American Tower will eventually give up the ghost.
Mar 30, 2017
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starstarstarstarstar 		They Will or They May remove tower?
by: Steve

Do they have to remove the tower or can they choose to remove the tower?

Big difference.
Mar 05, 2017
Rating
starstarstarstarstar 		The Contract
by: Dan

American Tower has a 30 day notification provision in the event of tower removal - I'm perfectly fine with this. And as for removal and restoration, this is covered extensively in the contract where everything has to be removed and returned to its natural state.
Mar 02, 2017
Rating
starstarstarstarstar 		Let's see the lease
by: Stephen

Do they have removal and restoration language in the lease and what does it say? What about their termination rights? You don't want to get stuck with a large lightning rod on your property. Have them remove it and squeeze them for rent for as long as you can.

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