TECHNOLOGY – IS 5G A Driving Force?
Updated: May 5, 2020
Per an article read in the IREM Nov/Dec 2019 publication issue titled “the Next Generation of Technology Legislation”, as of June 2019, only 23 cities in 14 states were 5G live. A selection of city map examples are included below for Los Angeles, Phoenix, Boston, and New York to illustrate locations within each city where 5G is live.
So what does the 5G antenna installation mean for new projects? Should the owner/developer plan as a part of their cost budget for such expense and installation allowances? Will adding 5G antenna locations at time of construction improve the value of the asset; borrowing capabilities; or attract a higher tenant rent. And, how does (will) this work in advance with providers such as Verizon, Sprint, or T-Mobile. Yet the availability of 5G as we understand it is still quite limited in cities.
According to the FCC (Federal Communications Commission), new regulations are on the horizon governing antenna device installations. We do not know all the nuances to this subject, but as we understand it, regulations albeit some newer than others, may impact real estate markets in two ways. One, is the potential allowance by tenant installation and the other from 5G installation without the building’s current provider contract having to be amended.
It may be prudent therefore for property owners to keep a watchful eye on how 5G is affected by governmental regulations. You may have certain rights or limitations. Whatever they may be, you are likely to want you and your property management company to be in the know.
Check out the major metropolitan coverage areas below. Click on the image to be directed to additional information on these coverage areas.
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