The following are answers to questions we encounter most often:

1. If my lease can be terminated, why do you want to buy it? For most landlords, receiving site rent is a "zero-sum" proposition: either they receive rent, or they don't. RFS, on the other hand, owns a portfolio of site leases. A single lease termination has far less of an impact.  This is why we are willing to pay a large, up-front lump sum for the future rent associated with your site and fully assume the risk of a future site termination.
2. What is RFS buying exactly? We are basically buying your existing site rent for a period of 15-40 years. That's it. The legal term for what we are buying is a "leasehold interest." We are not buying your site – that's yours. We are also not creating a new legal right to your property, such as an easement. We only want an assignment of your future rent in exchange for the lump-sum prepayment which we will make to you. If you want to add another rent-paying tenant, that's your prerogative and we will not participate in any future cash flow derived from that new tenant except to the extent we agree to execute a new lease prepayment for that new cash flow.
3. What is my cell site lease worth? The value of your site lease depends on the wireless carrier or tower company on your site, the location of your site, the terms of your lease, and on a risk assessment. Contact us. We will be able to give you an immediate estimate.
4. But wouldn't I make more money by keeping the lease? Not if, during the next 15-40 years, your tenant seeks a rent reduction or terminates the lease. You most likely have a lease that can be canceled with 30-90 days notice. Due to this termination risk, you cannot ordinarily borrow against the lease at your local bank. In addition, we can afford to pay you a substantial up-front lump sum cash payment which you may deploy in a more profitable alternative activity.
5. When can I have the money? Once we receive a valid, signed agreement from you, we typically will send you a check within two weeks.
6. What funding options do you offer? Although we are willing to "customize" any transaction to meet our client's needs, most landlords choose one of two options. First, we offer an up-front, lump sum lease purchase. You receive a large cash payment today and, in return, we receive site rent for an agreed upon period usually extending between 15-40 years. Second, we offer a non-recourse loan, which you repay by assigning site rent to us for 15-40 years. This second, loan option may in certain instances provide a tax deferral opportunity. As the proper tax treatment of a transaction requires a careful evaluation of all relevant facts and circumstances, we urge you to consult your tax advisor.
7. If I convert my lease to cash, how will my tenant respond? RFS seeks to work cooperatively with wireless carriers and tower companies. Rather than seeking rent increases from our tenants, we provide carriers with opportunities to actually reduce site rent. As a result, we believe that our tenants may be less likely to terminate sites in our portfolio. This benefits you because, without a termination, you can begin receiving site rent again (or receive a second lump sum) at the end of the 15-40 year lease conversion period.
8. If I convert my lease to cash, will I still own the underlying property? Yes. We emphasize that we are interested only in purchasing your future site rent. Legally, we are buying a leasehold interest, not an interest in real estate (such as an easement, for example). As a result, you are free to add additional tenants, who will pay rent to you, not us. In some cases, we may even be able to help you find such tenants.
9. What happens if I have a mortgage? Nothing. Because we are not creating any new property right, converting your lease to cash does not require any agreement from your bank.
10. If I convert my lease, can I still sell my property? Yes. You are free to sell your property at any time – and keep the money you received from RFS in connection with the lease prepayment.
11. What happens if the tenant cancels the lease during the 15-40 year lease conversion period? You will keep the full amount of the up-front lump sum, even if the wireless carrier or tower company cancels the lease during the 15-40 year conversion period. In other words, the risk of lease termination has been transferred from you to RFS. We assume this risk entirely with “no strings attached.”
12. I have multiple tenants. Can I "cash-in" on all of them? Yes. Assuming your leases meet our criteria, RFS will convert each of them to cash.
13. Does RFS have the money to move quickly? Yes. RFS has immediate access to a significant pool of equity funding. This enables us to send you your lump-sum prepayment usually within two weeks.
14. OK, I am interested. What do I do? Find a copy of your cell site lease. Then contact us. Our lease consultants are standing by to help you.