Find out what is a fair farm rental agreement at meeting
Landlords, farmers and agri-business professionals should make plans to attend one of the informative land rent meetings on Tuesday, Nov. 15, at 9:30 a.m. and 1:30 p.m. at the Douglas County Public Works Building in Alexandria. These free meetings are provided by the University of Minnesota Extension.
Farmland rental rates have started to lower as corn and soybean prices continue to lower in 2016. Negotiating a fair rental agreement that satisfies the landowner and the farmer is a challenge. David Bau, Pauline Van Nurden, Gary Hachfeld and Nathan Hulinsky, Extension educators in ag business management, will provide several ways to determine a fair farmland rental rate for both parties.
Topics covered at the meetings will include local historic and projected farmland rental rate trends, current farm land values and sales, and a worksheet that will help determine a fair rental agreement.
Input costs for 2017 will be presented along with current 2017 corn and soybean prices. Worksheets will examine 2017 costs and what is affordable rent that a farmer will be able to pay in 2017, the rate of return to the landlord at current market values and examine flexible rental agreements.
For more information, contact Brenda Miller, U of M Extension in Todd County, at (320) 533-4655 or firstname.lastname@example.org.