Our tractor (and all its attachments) sat out in the open the first 2 years we had it (its 6 years old now). We bought empty land and there was nothing but some trees on it, so I parked it behind one of the big fir's so it wasn't easily seen from the nearest road.
My experience, and I'm in the Pacific Northwest, is tractors are made to take the elements. I did tarp the attachments, but as others mentioned, that can cause its own issues... like providing a nice dry place for mice to make a home as I found out. I had zero issues with the slide rods and such being exposed and did nothing special to them otherwise.
If I did it over again, I'd make some cheap lean-to's with pallets and tarps so while things would stay drier, I wouldn't be providing space for varmints.
Make sure to zerk your fittings before storing, and rezerk when your ready for use again.