Posted by SweetFeet on May 14, 2012 at 14:30:58 from (70.35.110.213):
In Reply to: Cash Rent Contracts posted by Christos on May 14, 2012 at 12:48:49:
Your contract should definitely list: 1. the number of acres farmed 2. the price per acre (or specific details if renting on shares, etc.) 3. specify the year/years the contract covers 4. specify exactly when rent payment will be made (ours is paid in full each spring by May 1) 5. specify anything else... for example we say a.) no canning company crops (because they will mud-in a planting our muck-out a harvest and really make a mess of your land). b.) no hunting allowed (not against hunting AT ALL... just don't want "who knows who" wandering around on our land).
I don't know what rent should be in your area. That would be good to check with local land owners or renters to see what the going price is...or your local ag office. We keep our rent a bit on the leaner scale because we only have 72 tillable acres and most that farm around here are big farmers with huge equipment. Though our renter is a fabulous guy... takes care of our land like it was his own and he had a great crop last year and gave us large bonus. When he just paid rent on May first, he said he hopes for another good year so he can give us another large bonus. He is a great guy!
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