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What is a fair and profitable farm rental agreement?


By Jerrold Tesmer

Fri, Nov 15th, 2013
Posted in All Agriculture

By Jerrold Tesmer

Extension Educator

Fillmore/Houston Counties

Landlords, Farmers, Agri-Business Professionals should make plans to attend one of the informative meetings being held in Southeast Minnesota. These free meetings are being provided by the University of Minnesota Extension. Farm land rental rates have never been higher and determining a fair and profitable farm rent agreement is a challenge in today’s economy with recent record corn and soybean prices and record farm land values.

Negotiating a fair rental agreement that satisfies the land owner and the farmer is a challenge. David Bau, Extension Educator in Ag Business Management, will provide several ways; by examples, factsheets and worksheets to determine a fair farm land rental rate for both parties.

Topics covered at the meetings will include local historic and projected farmland rental rate trends, current farm land values and sales, a worksheet that will help determine a fair and profitable rental agreement. Input costs for 2014 will be presented along with current 2014 corn and soybean prices. Worksheets will examine 2014 costs and what is affordable rent that a farmer will be able to pay in 2014, the rate of return to the landlord at current market values and examine flexible rental agreements.

Make plans to attend one of these meetings now. Attendees will receive several informative worksheets and factsheets that will help to determine what is a fair and profitable 2014 farm land rental rate is.

The two meetings closest to this area will be held in Austin and Rochester. The Austin workshop will be held on Thursday, December 5 at 9:30 a.m. in the Mower County Commissioner’s Board Room, 2011 1st Street NE, Austin. The Rochester Workshop will be on Friday, December 6 with two sessions, 9:30 a.m. and 1:30 p.m. in the Auditorium UCR-Heintz Center, 1926 College View Road SE, Rochester.

For more information contact Dave Bau at 507-360-0664 or email bauxx003@umn.edu

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