Renegotiation on a 16 year old T-mobile-lease
by David Ramirez
(Fontana, CA. USA)
I have cell tower on my property that was originally leased in 1995 for $420.00 per month. The contract calls for a 15% increase every five years. The current lease is now $637.00 per month. I have tried to renegotiate the original contract but each subsequent carrier (at least four, with current occupier being T-Mobile) has stated that the original contract is binding. The current market value for cell tower leases in my immediate area is approximately $2,000 per month. Would you be able to advise me on how I can approach the current carrier in regard to updating the original contract? Also, I believe there have been upgrades done to the tower without our knowledge. In addition, a cable television company (Time Warner Cable) is also using the site. There has been no compensation for the upgrades or from the cable company.
Any assistance you can render will be greatly appreciated.