Rooftop Money-Makers Turning Empty Space Into Profits

Beyond collecting monthly maintenance payments, co-ops and condos are always searching for creative methods of generating discretionary income. Renting out excess parking areas and installing storage lockers for rental are two ways to boost the reserve fund, but the proliferation of cell phones, broadband, paging, wireless web, and related technologies makes leasing rooftop space for antenna installation another highly profitable option.

It’s almost impossible to walk a New York City block without passing someone busily chatting away on a cellular phone. By this time next year, wireless application users are expected to reach one billion, and that number will almost double by 2004, according to Cahners In-Stat Group, a digital communications market research firm based in Newton, Massachusetts. The cell-tech explosion has created a tremendous demand for transmission sites, and some companies are willing to pay your building for the space.

Why Your Rooftop?

Wireless technology providers require towers and other elevated spaces to install the apparatus needed to serve their subscriber loads. Although independent structures have been built to house the necessary transmission equipment, many high-traffic areas simply do not have sufficient unoccupied land to build on. In addition, zoning laws restrict the number of traditional signal towers that can be built in a given area. New York City has little (if any) land available for tower construction, so installing mini-towers and inconspicuous transmission equipment atop existing buildings is an increasingly popular alternative.

When a board becomes interested in leasing their roof for possible antenna installation, it’s not enough to simply contact providers individually. It’s not as easy as calling up a cell phone company and saying, "I have a roof for rent…are you interested?"

Read More...

Related Articles

The Untapped Potential of New York City Co-ops

Finding New Revenue Streams

Preparing Your Co-op or Condo for the Internet of Things (IoT) - Are You Ready?

Seminar - The Cooperator Expo New York

Cloud-Based Cooperating: Utilizing the Latest Technology to Simplify Property Management

Professionals Talk About How Tech Is Opening Up New Possibilities

 

12 Comments

  • Very good information. Please let me know where I can find the lease comp (in term of financial). I have some Wireless Company want to lease a space in my building, but I don't know how much is a right price, and I would like to have health information related to the wireless antena (affected to my tenants). Thanks.My e-mail:dvbach@gmail.com
  • i am looking to lease my rooftop for a phone company can you help me with that ?
  • ARE YOU AWARE OF ANY WIRELESS MANAGEMENT FIRMS SERVING THE ANNAPOLIS MARYLAND AREA?
  • i occupy an apt on the top floor and my walls have been vibrating,and my chair/couch also buzzes. this is giving me chronic headaches. the landlord "says' the cell co. has been there to correct the problem.Nothing has been resolved.What can a tenant do to resolve this issue?
  • I need a company like 3G serving the South Florida market, primarily Miami. Thank you ina dvance for your assistance.
  • Looking to lease out roof top space on high rise Condo in Hutchinson Island in Jensen Beach, Fl. Possibly for something in the Go Green energy area, Cell towers, cable towers. Are there any companies in the Jensen Beach, Fl area to contact that may be looking for roof top space? submitted May 5, 2010 Thank you, TRS
  • Hey TRS and others, If you want to lease out your rooftop space, you can list it on www.seglet.com This is specifically to list rooftops for solar energy, wind energy, and urban farming leases/partnerships. It's free for you to list it. You can also list it private or publicly to retain control over your contact information. Hope this helps!
  • I'm on a Co Op board & in charge of finding out about having us doing the towers to generate money
  • Advertising company was to lease space on my wall for a 10x10 sign. What is the price for leasing ??
  • How does subcarrier communications company who represents the landlord get paid? from the cell phone company? and what about if you want to renegotiate a lease?
  • i am looking to lease my rooftop for a phone company can you help me with that ?
  • Anyone know of wireless/communications leasing management firms servicing the So Cal area? Thanks.