Elderly Mom's CC Lease Renews in 2017
My Mom is 83, and is dealing with Crown Castle, the current Operator since 2013 (and 2 other companies) who are interested in her cell tower lease that ends in 9/17. As her daughter, I have stepped in, and realize that even with a good attorney, we may need some guidance from an unbiased source.
The tower lease started in 1989, and her rent is still only about $800/mo. It is a low-access microwave tower, in upstate NY, but is loaded with dishes (none of which she gets additional money for) They say the only tenant is AT & T.
Crown has just done a $20K upgrade to the easement, which tells me they don't plan on moving elsewhere. This week they sent a very "short" 1 paragraph offer for a 30 yr. lease extension. In my opinion, it's not great.
The other 2 companies making offers are Tower Point and Unison. There offers are less than Crown, as they just want my mom's land lease. Crown owns the tower itself, so they know they can offer more.
What should we do? My Mom also needs to move soon as the property is more than she can deal with on her age.