Posted by John (C-IL) on February 25, 2008 at 13:12:14 from (12.109.70.88):
In Reply to: Cash crop rent posted by seia on February 25, 2008 at 12:47:15:
Around here that ground would bring $150 or a little more. Ask the tenant what average rent he is paying his other landlords. I have heard individual tenant ranges from $75 to $225 for similar ground.
Another unbiased way to set the rent is 5% of current land value. If the current land value is $2500 the rent would be $125. It would be worth asking and paying a certified appraiser what the compareable sales are for the area.
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