Posted by paul on December 14, 2015 at 07:34:38 from (76.77.197.114):
In Reply to: OT - Leasing Land posted by Bill VA on December 14, 2015 at 05:27:12:
Often times a crop share arrangement works for this.
75% of the bales go to the renter, 25% go to the landowner. The landowner can sell his portion,or just cash it out to the renter on the average hay price. This is where the land owner isn't much interested, and just wants the taxes covered.
Another way to do it is 50-50, the land owner gets 50% of the hay, but the land owner is responsible for most of the lime and fertility on the land. The land owner is motivated to lime and fertilize the land, so as to get more hay. The renter gets less hay, but doesn't have the fertilizer costs out of pocket.
Perhaps you can come up with a cash rent idea from these general crop share arrangements, if both of you want it to be a simple cash deal.
With a cash deal, you have to consider you have poor hay for 2-3 years, then the value will really go up. Be careful the land owner doesn't use you for the first few years and then rent for bigger bucks to someone else, stealing away the hard work and extra fertility you did. If a cash rent, you would want to work up a 4 year agreement so what you put into the field the first 2 years, you have a chance to collect on for at least the last 2 years of the lease.
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