We are often asked the same questions by potential members. What is the WLA? Why are we here? What services do we provide and how can we provide them at such a low cost? Here you can find the answers to these questions and more.
- What is the WLA?
- How do I get additional wireless tenants or increase my lease income?
- Do I need to pay WLA for the Site Promotion service?
- What is the Rent Continuation Program (RCP) and how does it work?
- Why and how are cellular companies threatening landlords with cancellation?
- If my lease is cancelled, how will I know WLA will continue to pay my lease during the continuation period?
- Can I see an example?
- How can WLA offer so much for so little?
- What's the difference between the Associate and Premier level memberships?
1. What is the WLA?
The Wireless Landlord Association (WLA) is an advocacy group created solely to support the specific needs of current and prospective wireless landlords and leaseholders. Our team of experienced industry experts and legal professionals serves as a powerful resource for individual landlords. We represent the interests of more than 2,200 member sites and over 2,500 leases. And thanks to the many benefits we offer, our member list will continue to grow, starting with you.
We represent your interests in negotiations with your current tenants and help find you new ones, so you can earn the highest rental income possible. We're your voice and we're here for you.
2. How do I get additional wireless tenants or increase my lease income?
A wireless lease income can be lucrative and that’s why many wireless landlords want to get more tenants and those who don’t have a cell site are always asking how they can get one. The truth is, without the know-how and industry contact, promoting your properties as potential cell sites can be a daunting task. When you join the WLA, we will include information concerning your properties in our online site database, which is promoted to all major carriers.
3. Do I need to pay WLA for the Site Promotion service?
The Site Promotion service is provided free of charge to all WLA members. If WLA is able to bring new or additional wireless tenants to your property, you are obligated to either pay WLA a success fee of 25% of your new monthly rental amount procured by WLA for the duration of the lease term, or monetize your lease through
Wireless Capital Partners for a 20 to 40-year term.
4. Why and how are cellular companies threatening landlords with cancellation?
Several cellular companies have merged and have announced that they may cancel thousands of redundant cell sites across the country. Wireless carriers are using this change in the market as leverage to pressure landlords like you into rent reductions. Carriers have engaged third-party vendors to contact landlords and tell them that their site lease may be cancelled unless they agree to rent abatement, or rent & escalator reduction. As part of that negotiation, the third-party vendor receives a large percentage of this rental reduction.
By contrast, our members are not affected by these threats of rent reduction. The WLA Premier membership fee is nominal compared to what carriers require in rent reductions, yet it provides our members with the benefit of Rent Continuation.
5. What is the Rent Continuation Program (RCP) and how does it work?
Responding to the needs of our members, we created the Rent Continuation Program (RCP). Under this program, if a tenant cancels or terminates his lease through no fault or inducement by the member, we will lease the property from the member. And, we will keep the lease at the exact same financial terms and conditions as were in place at the time of cancellation.
In exchange for ongoing rental protection, members pledge a portion of their lease, allowing them the same financial peace of mind with all wireless tenants. The Rent Continuation Program allows our members to transfer the inherent risk of carrier cancellation to an organization that has a much larger lease portfolio and is better positioned to absorb such a loss. Our parent company, Wireless Capital Partners, owns more than 2,500 wireless lease contracts and manages more than 15,000 prospective sites for organizations including Walgreens, the Salvation Army, as well as many cities and counties across the country.
The RCP is simple: Once you're enrolled as a Premier member of the Wireless Landlord Association, a small portion of your rents supports the services we offer, including the RCP. Your membership fees amount to only two to five years of your scheduled escalators. Therefore, if your lease is ever cancelled, WLA will assume it at the current rental amount for up to 10 years. In addition, we will attempt to find a replacement cellular tenant.
6. If my lease is cancelled or terminated, how will I know WLA will continue to pay my lease during the continuation period?
As a member enrolled in our Rent Continuation Program, you are guaranteed that we'll continue to pay your lease over the time allotted. Our parent company, Wireless Capital Partners (WCP), already owns and manages more than 2,500 leases with more than $250 Million in assets. If your lease is cancelled, it will represent only a small percentage of the organization's existing and diversified portfolio.
For example, the existing portfolio for WCP generates more than $1.5 million of lease income per month. A lease payment of $1,500 per month represents less than 1/10 of one percent of WCP's current monthly portfolio revenue. The number of leases in WCP's portfolio continues to grow by approximately 100 per month. So, there's no need to worry. WLA will continue to pay your lease, as agreed.
7. Can I see an example?
We'd be glad to show you how it works.
Click here to go to our interactive calculator and enter your lease scenario to see your cost and rental continuation should your lease be cancelled.
8. How can WLA offer so much for so little?
Because we are an advocacy group, our first and most important goal is to protect the rights of wireless landlords. And while we know our membership benefits are worthwhile, we want to make sure they're also affordable. We don't employ third-party vendors to restructure your lease - so we don't pay for their services.
9. What's the difference between the Associate and Premier level memberships?
There are two major differences between the two plans: Rent Continuation Program and access to our professional services.
Rent Continuation Program: The Premier Plan offers members lease continuation, or assumption, in the event that a wireless lease is cancelled or terminated by the member's wireless tenant. We will lease the subject property area from the member for the remainder of the current lease term and one additional five-year term, not to exceed ten years in total. During this time, we will also attempt to remarket the lease to another carrier. If we are able to secure a lease, members will receive any and all rents paid by the replacement tenant, less the member fee.
Access to professional services: Even with all the resources at their disposal, many WLA members would rather leave the negotiation and management of their wireless leases in the hands of professionals. Our team of telecom and legal experts are here to help, whether you are simply seeking professional advice and guidance, or are interested in having the WLA perform these functions on your behalf.