I have with my sister 120 acres coming out of CRP. October 1 2017. Have neighbor wanting to rent ground. How do I go about setting and getting a fair price? Any help needed thanks in advance. Farmer is all ready to get started but is a little pushy already telling me what I can and can not do with my farm equipment. Seems like he is going to farm every inch possible.
Farm ground rent
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smstonypoint
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Ag. economics departments at most of the land-grant universities have sample forms for farmland leases: farm land lease form - Google Search. They also have publications discussing the issues facing lessees and lessors.
You can find average county-level cash rental rates at USDA/NASS QuickStats Ad-hoc Query Tool.
Good luck.
Steve
You can find average county-level cash rental rates at USDA/NASS QuickStats Ad-hoc Query Tool.
Good luck.
Steve
Soggy Bottom Outdoors
Gold Member
Where do you live? Is it row crop land, hay, pasture? Contact your local extension office, soil conservation service agency, or farm service agency. They should have lease agreements for you to look at and current prices as well as production records for your place. If you can prove it is or was a production farm you can ask more money. Cash rent or shares? Hunting rights included? Cover crop mandatory? Yearly or long term? Are any bins or barns included? Where do I enter exit? Of the 120 acres how much am I leasing? Take a soil sample before he starts and do so every year so you'll know if he's wearing out your farm. No handshakes! Get everything in writing, with maps included signed and notorized.
Thank you for your help. Farm service agency would not even tell me who owned the farm next to me. Had to go to the court house. Owners have all died or changed hands since grandparents bought the place in 1952. No bins just a farm house that is rented and 142 acers wooded. Have photos and documented Crp acers. Yearly rental. Will probably be sub developed after my death. Looking at the quick stats for land over 100 acers showed 5-to three hundred 50 . Will be on phone Tuesday. Currently disagreement over food plots with renter. Been raising big bucks for over 50 years. No hunting except by invitation. Food plots and mineral blocks year round several Boone & Crockett records taken by bow. Renters wife is a nurse and took her first buck at 5 o,clock when husband was at work. Farmer says he feeds deer all year long. Renter wants winter food plots from Nov.-march. I side with renter.
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Cash rent. Friend meet at auction -
Norbert had farmed on shares for 25 years with his neighbor. At 92 years old had problems with his eyes and ended up in Tenn. in the hospital for a month during harvest season. Daughter lived there. He made it back home and had 8,000 dollars less then yearly average on his farm crop. Talk about a pissed off old man. He has all his records and a lawyer. When your that old and out of state in a hospital nobody thinks your coming back.
Norbert had farmed on shares for 25 years with his neighbor. At 92 years old had problems with his eyes and ended up in Tenn. in the hospital for a month during harvest season. Daughter lived there. He made it back home and had 8,000 dollars less then yearly average on his farm crop. Talk about a pissed off old man. He has all his records and a lawyer. When your that old and out of state in a hospital nobody thinks your coming back.
Soggy Bottom Outdoors
Gold Member
Let's do a you and I scenario. How many acres will I be cropping on you? Be honest because when I spread fertilizer and spray the farm my gps will tell me. If you say 120 and I pay for 120 and my gps says 100 we'll need to talk. I'm guessing hunting rights are not included and that's fine. Understand that my planting ,spraying, harvesting schedule will not be postponed by hunting season. If deer season open the second sat in nov and the the crop is ready to shell we're shelling. I still need some past production records. 250 bushel ground is worth more than 150 bushel. I have trouble getting crop insurance with no production records. Typical 150 bushel corn and 50 bushel bean ground in my part of Ky will run $100 to $150 annually per acre lease. But there a lot of parts to that final price.