Harmoni Towers Cell Tower Leases: What Property Owners Need to Know

As one of the newest and most active players in the cell tower industry, Harmoni Towers is rapidly expanding its footprint across the United States. Property owners approached by Harmoni—or those already in a lease with them—should understand the unique dynamics of dealing with this tower company.

At Airwave Advisors, we’ve reviewed thousands of cell tower lease agreements, including a recent Harmoni Towers lease in Missouri with shockingly unfavorable terms for the landowner. That lease contained 17 five-year terms (an 85-year potential duration), started at $600 per month, included only a 1.5% annual rent escalator, and had a right of first refusal (ROFR) clause—locking the landowner into a long-term deal far below market rates.

In this article, we’ll walk you through:

• Who Harmoni Towers is
• What their leases typically look like
• Red flags to look out for in their contracts
• How their lease terms compare to market standards
• How to protect yourself as a property owner

Whether you’ve been approached by Harmoni or are already under contract, this guide will empower you to make more informed decisions.

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Who Is Harmoni Towers?

Harmoni Towers is a rapidly growing cell tower infrastructure company that builds, owns, and operates wireless communication towers. Founded in 2020 and headquartered in Little Rock, Arkansas, the company is a portfolio company of Melody Investment Advisors—a private investment firm that specializes in digital infrastructure. The company was previously known as Uniti Towers.

Since its inception, Harmoni Towers has made headlines with major tower acquisitions and development deals. They’ve taken over towers from wireless carriers and are aggressively developing new sites, especially in underserved rural and suburban markets. Their strategy is clear: build fast, lock in long-term agreements, and control as many tower assets as possible.

But behind the scenes of this rapid expansion is a very calculated—and often one-sided—approach to leasing land.

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Real-World Example: Missouri Lease With Harmoni Towers

Airwave Advisors recently reviewed a Harmoni Towers lease proposal in Missouri that perfectly illustrates why property owners need to be cautious. The proposed agreement included:

• Initial Rent: $600 per month
• Escalator: 1.5% annually
• Term: Seventeen 5-year terms (up to 85 years)
• Right of First Refusal (ROFR): Restricting the landowner’s ability to sell

At first glance, a guaranteed monthly rent may seem appealing. But when you break it down, this lease was riddled with below-market terms:

• Rent: The average market rent for a new tower lease is typically $1,000 to $2,000+ per month, depending on location and demand.
• Escalator: Market escalators range from 3% annually to 15% every 5 years—1.5% is well below inflation.
• Term: 85 years of control with no real exit strategy for the landowner.
• ROFR: This clause can severely limit your ability to sell or assign the lease, reducing your financial flexibility.

This lease heavily favored Harmoni and locked the landowner into substandard terms for nearly a century. Had the owner signed it without a professional lease review, they would have left hundreds of thousands of dollars on the table.

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Common Harmoni Towers Lease Terms (and What to Watch Out For)

If Harmoni Towers has approached you with a lease proposal, here’s what you’re likely to encounter—and what it means for your bottom line.

1. Long-Term Control (Multiple Renewal Periods)

Harmoni Towers typically structures their leases with an initial term of 5 years and 4–6 additional 5-year renewals. We’ve even seen proposals with up to 17 renewal periods—totaling 85 years.

Why it matters: The longer the control, the more leverage the tower company has—and the harder it becomes to renegotiate terms. An 85-year lease means you’re effectively giving up the land for multiple generations.

2. Low Starting Rent

Initial rent offers often start low—sometimes as little as $500 to $700 per month. While this may sound like “free money” for unused land, it’s well below market value.

Why it matters: In competitive or suburban areas, market rates usually begin at $1,200/month and can go as high as $3,000/month depending on zoning, location, and carrier interest.

3. Below-Market Rent Escalators

We’ve seen Harmoni Towers offer 1.5% annual escalators—barely enough to keep up with inflation.

Why it matters: A small difference in escalator percentage results in a massive difference over time. For example, at 1.5% escalation, $600/month becomes only $796/month after 20 years. At 3%, it would be $1,085/month.

4. Right of First Refusal (ROFR) Clauses

A ROFR gives Harmoni the right to match any future offer you receive to sell or assign your lease.

Why it matters: ROFRs can discourage third-party buyers, devalue your lease, and slow down or block future transactions. We often recommend pushing to remove this clause or negotiate a time-limited version.

5. Limited Revenue Sharing

Harmoni Towers may allow co-locating additional tenants on your site—but they may not offer revenue sharing, or offer only a small percentage (e.g., 10%).

Why it matters: Towers often attract multiple tenants over time (e.g., Verizon, T-Mobile, Dish). If you’re not sharing in that upside, you’re leaving money on the table.

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Comparing Harmoni Towers to Other Tower Companies

Let’s put Harmoni’s typical terms side-by-side with what we see from other industry players:

Lease Term	Harmoni Towers	Industry Average
Initial Rent	$500–$700/month	$1,200–$3,000/month
Rent Escalator	1.5% annually	3% annually
Lease Length	Up to 85 years	25–30 years typical
Revenue Share	0–10%	10%–30% of subleases
ROFR	Often included	Often negotiable/removed

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Why Property Owners Sign Bad Cell Tower Leases

Tower companies like Harmoni approach landowners with professional, templated lease documents. These documents are legally complex and heavily favor the company. Many property owners—especially in rural areas—don’t realize:

• They can negotiate
• The initial offer is not the only offer
• The long-term financial impact can be massive

Tower companies count on this lack of knowledge to lock in favorable deals for themselves. Unfortunately, once a lease is signed, renegotiating is difficult or impossible without leverage.

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How Airwave Advisors Can Help

At Airwave Advisors, we’ve helped thousands of property owners across the country understand and negotiate better cell tower leases. Whether it’s a new lease proposal, a lease extension, or a potential buyout, we bring deep market knowledge and industry experience to the table.

We will:

• Review your lease proposal or existing lease
• Benchmark it against market data
• Identify red flags
• Negotiate stronger terms on your behalf

In our review of the Harmoni lease in Missouri, we were able to walk the landowner through their options and ultimately save them from locking into a deal that could have cost them hundreds of thousands of dollars.

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What Should You Do If Harmoni Towers Approaches You?

Here’s a simple roadmap to follow:

1. Don’t sign anything right away – You always have time to review.
2. Get a lease review – A professional review will help you avoid costly mistakes.
3. Understand your land’s value – Not all sites are equal. Rural parcels may fetch less, but suburban or urban plots may command premium rates.
4. Negotiate smarter – Most lease terms are negotiable—including rent, term length, escalators, ROFR clauses, and revenue sharing.
5. Think long-term – A cell tower lease can affect your property value, future development rights, and estate planning.

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Final Thoughts

Harmoni Towers is not the enemy—but they are a business, and their priority is maximizing returns for their investors. As a property owner, your job is to protect your interests and secure the best deal possible.

The lease you sign today could impact your financial future for decades.

Before you commit to anything, let Airwave Advisors help you understand the true value of your property and negotiate the best terms possible. Don’t leave money on the table.

If you’ve been contacted by Harmoni Towers or are considering a lease buyout or amendment—reach out to us today for a free consultation.

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Want to learn more about maximizing your cell tower lease?
Contact Airwave Advisors today to speak with a cell tower lease expert.

📞 (888) 443-5101
📧 [email protected]