What is a fair farm rental agreement?

By Katie Drewitz

University of Minnesota

Extension

The University of Minnesota Extension is once again hosting land rent workshops this fall. Landlords, farmers, and agri-business professionals should make plans to attend one of these free, informative, in-person meetings being held across Minnesota in November and December. Farm land rental rates are the largest input cost the farmer has. Determining a fair farm rent agreement is always challenging.

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

Make plans to attend one of these meetings now. Check out Extension’s website at: www.extension.umn.edu and search “land rent workshop” in late October for the complete schedule of dates and locations of workshops. Attendees will receive several informative worksheets and factsheets that will help to determine what a fair 2023 farm land rental rate is. The meetings will be held across Minnesota from November 9 through mid-December 2022, there will be a follow up of zoom meetings scheduled regionally across the state starting in January 2023. Make plans to attend one of these meetings now. Pre-registration is not required.

The land rent workshop will be held in locally in both Fillmore and Houston counties.

• Friday, December 2 in Preston from 9:30-11:30 a.m. at the Fillmore County Office Building Room 108, 902 Houston Street NW, Preston, Minn.

• Friday, December 2 in Caledonia from 1:30-3:30 p.m. at the Criminal Justice Center, basement meeting room, 306 South Marshall St., Caledonia, Minn.

If you have questions about land rent, this event, or any other agriculture, horticulture or natural resources question please reach out to your local Extension educator. Residents in Fillmore and Houston counties can call (507) 765-3896 or (507) 725-5807 or email wins0115@umn.edu.