Posted by VADAVE on August 01, 2011 at 09:38:44 from (149.32.192.33):
In Reply to: land rent posted by DARYL in PA on August 01, 2011 at 03:42:31:
It depends. On where you're at, what kind of soil and if you grew up there. I kepp hearing that in the mid-west rents are above $200-400 here in Virginia I hear of folks paying $20 to nothing when the owner bouned the farmer on their laps as babies. The average in the county is around $65 but this year I'm getting rumors of $130. I discount the rumors pretty heavily. Our county average corn yield has been running 120 bu without irrigation. The last couple of years that is inching up. For me this will be the telling year, it's been pretty good with decent rain but high temperatures, if the variety yields up to expectations (150+ bu) then higher rents are possible. Something I've been thinking about is rent on a sliding scale. A basic rent, say $40-50, tied to a base yield, say 80 bu, with the rent adjusting for higher yields. Say additional $15 if yield is 120 bu, additional %30 if yield is 150 bu ans so on. Negoiable of course. That way when we get a year like we had last and and Texas is having this year the landowner bares some of the pain also. Another thought is what does the landowner contribute when the rent goes up? Around here when you rent it you are responsible for everything including soil condition. Three years ago I had some ground rented, put in an entrance and applied lime and fertilizer only to have the landowner try to back out. I got to farm it one year but of course lost money since all of that was for a long term payback. Sorry for the long response.
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