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Tower Negotiation Advice
I have a tower on my property and the lease has 9 more years on it. The tower company wants a 30 year extension now to help entice more tenants. There is one tenant on the tower(one of the bigger cell phone carriers).
They always want to buy the paper($115000) instead of paying a monthly rent.....which I'm not really interested in.
They are going to propose:
A 30 year extension.
An agreed increase in the monthly amount starting in nine years.
A 3% increase per year in the monthly amount starting immediately.
A $5000 signing bonus paid immediately.
Anybody got any insight on what a fair monthly rent should be?
This crowd is from Miami and are fast talkers.
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