Posted by JT on October 19, 2007 at 06:36:47 from (70.226.202.124):
In Reply to: OT: Crazy landlord! posted by JoeBob/IN on October 18, 2007 at 18:40:58:
I would let him take you to court, you have a lease and if he wants to raise the rent, let him initiate the court precedings. As far as I can see, you have a 3 year lease, at a certain price, and if the contract you signed does not have any clauses for rent increase for taxes, etc, then I would think there is nothing he can do except honor the lease at the price for the 3 year time period. I would send him the $65.00 per acre, in the time frame of the lease aggreement, that way if he does take you to court, he cannot use the "I am breaking lease because he did not pay his lease payemnt on time" and that I would send by certified mail back to him, then again, you do not get the I did not get the payment thing thrown at you in court. Now, to be a gentleman about this, I would ask him how much his taxes went up and if he does prove that to you, then you might want to consider working on a price adjustment. As for higher yields, that is none of his business, if your yields go down and the price of grain drops, will he drop the price of the cash rent?? I do not know what kind of ground this is that you are farming, but here in Central Illinois, $65.00 an acre is unheard of and $90.00 an acre is about 1/2 of what some ground leases for here
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