How to Rent Farm Land
If you are thinking of expanding your farm and come up with more products or just enjoying a new found hobby that is farming but don’t have your own land yet to make them happen, then renting a farm land is just right for you.
The good thing about it is that you don’t get to shoulder to tax and you can also just terminate the lease when you find out that there is no joy in farming as far as you are concerned.
Renting a farm land is easy. Here, we have provided the simple steps that you need to do in order to close the deal easily and start farming in a rented land.
Finding a Land for Rent
Logically, the first thing that you should do is find a land that could possibly be rented to you by the owners if the terms are right. If you want one from your neighborhood, you can just drive out and look for the “for rent” sign posted in one particular land. If not, you can find a lot that you want and they later on try to convince the owner to lease out the land. On the other hand, if you want a land from somewhere farther, you can check the classifieds or real estate part of your daily paper. There are usually indicated addresses of lands for rent here as well as the contact number of an owner so everything can work well conveniently. You would, just remember, want to see to it that the you talk to the owners by phone or email before even going in the location so that you wouldn’t be wasting time and money anymore if someone got it ahead of you already. There are also available sources online for locating lands for rent.
Agreeing on Rental Arrangement
As soon as the landowner has agreed to rent their land out to you, the next thing that you need to confer about them is the arrangement that will come with the rent. Here you might opt to pay the entire rent with cash or just give the owner a specific share of what will you is able to harvest. The good thing about paying cash is that you don’t get to worry about anything else when you are finally allowed to temporarily use the land. On the other hand, what is likeable about crop sharing is that you only get to pay after you have already harvested so there is not much risk of losing.
Talking out the Rent
After the arrangement has been done you and the landowner need to talk about the rent that you need to pay. If you opted out for rent in cash, payments are usually given monthly, quarterly or just one time depending on what has been agreed upon. If you are for crop sharing, what you will need to talk about is the portion or fraction of the total yield will have to be given to the owner. Now remember that your agreement as to this matter has to be precise and put unto paper. Also, take the time to agree on how long the lease will be and the specific terms that has to be followed by both parties.
Putting the Agreement in Writingf
After you have settled with the rate, length and conditions to the lease the final thing to do will be to reduce everything that has been agreed upon into writing. While oral stipulations will work here, having the agreement in paper is still better so that you will have a ready reference when called for.
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