Company guide
American Tower cell tower lease: what owners need to know
If American Tower pays your rent, it runs the tower on your land and rents space on it to carriers like Verizon, AT&T and T-Mobile. It is not a phone company. It is one of the largest tower owners in the world, with about 42,000 sites in the US and Canada.
American Tower is also one of the most active buyers of land under towers. So a letter from them is often a buyout offer, a request to extend your lease, or a request to lower your rent. Each one is written to get the best deal for American Tower. Treat it as a starting point.
Here is why American Tower is on your check, what changed recently, and how to answer each kind of letter.
Why American Tower's name is on your check
American Tower grew by building towers and by taking over large groups of towers from others.
- Verizon towers. In 2015, American Tower took over the right to lease and run about 11,300 Verizon towers, for an average of about 28 years, with options to buy them later. If your lease names Verizon, American Tower may be the one paying you.
- Global Tower Partners. In 2013, it bought about 5,400 US towers from Global Tower Partners, plus land under about 800 other sites.
- New builds and smaller deals. Many other sites came from towers it built or bought one at a time.
Your lease, your check and the carriers on the tower may show three different names. Match the site number on any letter to your lease before you respond.
What changed in 2025 and 2026
- DISH stopped paying. DISH made up about 4% of American Tower's US and Canada property revenue in 2025. DISH stopped paying in early 2026 as it shut down its network, and American Tower sued. In July 2026, DISH's parent units filed for Chapter 11. How much American Tower recovers is still unresolved.
- Old Sprint equipment keeps leaving. T-Mobile has been dropping overlapping Sprint leases since the two merged.
- A tough year, by its own account. American Tower called 2026 a low point because of the DISH loss and expects that pressure to ease in 2027. It also says carriers are adding equipment to improve network capacity.
- More land buying. American Tower planned to spend about $200 to $220 million in 2026 buying land under towers.
When a tower company loses revenue, it looks hard at its costs, and ground rent is a big one. Expect buyout offers and rent cut requests to keep coming. Neither means you have to say yes.
The letters owners get from American Tower and how to respond
A buyout offer
American Tower often offers a lump sum for a permanent easement on the tower site. Some letters give two choices: a lump sum now, or a long extension with your rent continuing. The lump sum is usually the one they would rather you take.
- Work out the multiple: the offer divided by one year of rent. Many buyouts land around 15 to 22 times a year of rent.
- Get the full written terms. Check how much land and access the easement covers, whether it lasts forever, and who pays property taxes.
- Get competing offers. Don't take the first number.
An extension request
American Tower may ask for many years of added terms, sometimes 40 years or more, for little extra money. Your lease's end date is your leverage. Don't give it away cheaply. Read every new clause, including any right of first refusal and changes to your yearly increases.
A rent cut request
Owners report letters asking for large rent cuts, sometimes half, often with a hint that the tower could be removed or the lease ended. Ask which carriers are on the tower now. Ask for written proof of any planned removal. Check how much notice your lease requires before the tenant can end it. A rent cut is usually permanent.
How American Tower as your tenant affects your lease value
American Tower is a large public company with long-term contracts from all three major carriers. While carriers stay on your tower, your rent stream is fairly secure. That is what buyers pay for.
American Tower clearly values owning the land under its towers. It even buys land under sites run by other companies. That interest is useful to you. Your site's real value depends on how many carriers are on the tower, how much time is left on your lease, and how hard the site would be to replace.
Common questions
Why does American Tower pay me when my lease says Verizon?
In 2015, Verizon gave American Tower the right to lease and run about 11,300 of its towers for an average of about 28 years. Your lease may still name Verizon, but American Tower runs the tower and pays the rent.
American Tower offered me a lump sum or a long extension. Which is better?
It depends on your rent, your remaining term and your plans for the land. Work out the lump sum as a multiple of a year of rent, compare it with competing offers, and read the full written terms of both options before you choose.
DISH left the tower. Does my lease end?
Not if your lease is with American Tower. DISH rented space from American Tower, not from you. If your lease pays you a share of carrier rent, that share may drop.
Should I agree to a permanent easement?
Only if the price is right and you understand what you give up. A permanent easement usually means you can never get that ground back. Get the terms in writing and compare offers first.
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