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grain bin rent

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Iowa Ron

04-14-2008 10:10:45

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have a 42ft 9 RINGS high will hold 25-30 k bushels of corn if heaped also 2 other 24ft bins one will hold 6000 bu the other 7000 bu ...all 3 have full floors and fans ...what is a fair rate to charge

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kyplowboy

04-14-2008 17:20:59

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Re: grain bin rent in reply to Iowa Ron, 04-14-2008 10:10:45

Round here going rate is about $.10 bu/year. I don't know any one who goes by the month, very little wheat around here goes in the bin, so onece it is full it is tied up for the year. Utilities paid by renter, if the owner has an auger that normaly comes with it, if not renter provides the auger. Most of the bins that are rented round here, renter would rather bring thier own auger, as most rented bins will come with a very small pto, non swing away auger.

Hope this helps.

Dave

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JMS/.MN

04-14-2008 17:01:50

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Re: grain bin rent in reply to Iowa Ron, 04-14-2008 10:10:45

Around here, some years ago, was 2 cents per bushel per month, and set a minimum of months- since the bin is tied up in fall for the year. ie- 2 cents, 6 months minimum, cash when filling. Why get two months of rent while passing up someone else who would rent it longer?

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JoeBob/IN

04-14-2008 16:37:37

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Re: grain bin rent in reply to Iowa Ron, 04-14-2008 10:10:45

10 cents a bushel for the year is what we have been payin for 34K bushels worth of storage. One farm we pay the electricity the other we don't.

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ejr-IA

04-14-2008 16:34:53

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Re: grain bin rent in reply to Iowa Ron, 04-14-2008 10:10:45

ISU has a range of a penny to 4 cents a bushel a month .Average is around 21/2 cents, don't have a 08 survey.

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MichaelNEIowa

04-14-2008 12:08:49

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Re: grain bin rent in reply to Iowa Ron, 04-14-2008 10:10:45

ISU has data on this:

http://www.extension.iastate.edu/publications/FM1698.pdf

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paul

04-14-2008 11:02:54

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Re: grain bin rent in reply to Iowa Ron, 04-14-2008 10:10:45

Depends, who supplies load out augers, electric power, any drying, etc?

Used to be about 2 cents a bu per month of what was stored.

Of late that seems kind of a hassle to the owner, your bin only gets filled if needed or it sets empty, collecting becomes a problem at times....

So, some have gone to renting the bin for 10-12 cents a bu for the whole year, paid up front, and doesn't matter if or how long they use the bin for those 12 months. You know what you are getting for $$$, get it ahead of time, and there are no games about emptying your bin first even if ground conditions are poor, etc. One check a year, everyone knows what's up for the 12 months and done with all the measuring & checking....

Electric costs or fancier equipment often costs extra above that.

--->Paul

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John (C-IL)

04-14-2008 10:25:08

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Re: grain bin rent in reply to Iowa Ron, 04-14-2008 10:10:45

commercial storage is 3 cents/bu/month. If you are charging less than 1 cent per bushel you are short changing yourself on the value of your facilities. I'm assuming that the tenant pays all utilities and is responsible for damage to the facilities and grain condition.

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jbfarms

04-14-2008 10:19:07

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Re: grain bin rent in reply to Iowa Ron, 04-14-2008 10:10:45

I rent out a bin that has a fan etc. and I charge them .025 per bushel stored. I figure the rent at the end of each month then I collect the total rent at the end of the year by Feb. 1st. Any repairs to the bin are my responsibility unless caused by the renter.

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