We've had a tower for 24 years. It began at $3000/year or $250/mo for the first 10 years. Then it was subleased to American Tower in 2006 and paid $3500/yr or $291.67/mo for 1 year then the rent began increasing at 3%/year and now after American Tower has had it 14 years it is currently paying $7649.08/yr or $637/mo. We get one check a year.
I am currently negotiating the lease myself (co-owner with siblings). They are ignorant & stupid and are willing to accept this going forward. They have been told by lawyers that there is no way to get out of the existing 10 year lease and no way to sell it.
They also refuse to deal with anyone other than American Towers.
I have asked AT to make changes to the proposed amendment (30 years) $60K sign-on bonus, rent to stay same and 3% increase/year.
Is it logical for me to ask for more rent?
What should I ask for?
Can I get revenue sharing from American Tower as well?
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