The current economic downturn of 2009 has seen operators actively developing cell phone towers knowing that real estate is down and homeowners in financial distress may be willing to sign a quick lease. The NIMBY crowd (not in my backyard) who have been so opposed to cell towers are now willing to have that monopole built on their property in many cases.

However, let the buyer be careful or rather, in this case, let the landlord be careful. Operators have ways of sneaking language into their cell phone tower leases that can directly affect the profitability of your cell site.

Here are some basic tips on what to do when it comes to wireless service providers:

o If you are approached by a cell phone operator looking to build a tower, be sure to seek professional advice from the wireless industry. Even a good real estate attorney could lose something in the deal. Minor wording changes may affect protection against tax assessments, sublet rights, and rental fees.

o If your tower company or carrier is trying to renegotiate terms with you because your cell tower lease expires after 15 or 20 years, they generally want you to sign quickly. Do not move. Chances are, if you signed up for a cell tower in the early 1990s, you’ve agreed to language that seriously lowered your earning potential on the site, and you’re ready to get paid. Still, ask an industry expert to review or negotiate the terms of your cell site lease.

o In addition, there are many wireless parasites that work on commission and try to squeeze homeowners thousands of dollars a year in their cellular lease payments by providing confusing and often false information. If a cell phone tower rental reduction company has approached you, tell them to stop harassing you. Mention the FCC or your local Attorney General and they will move to the next cell tower site and most likely never black out your door again.

Perhaps the funniest thing about the NIMBY crowd at the cell phone tower is that most have cell phones or blackberries, which occasionally ring during zoning board hearings. Homeowners, it is imperative that before entering into any lease with a company proposing cell phone towers, you read the fine print in your lease.