Landlords, Farmers, Agri-Business Professionals should make plans to attend one of the informative meetings being held across Minnesota. These free meetings are being provided by the University of Minnesota Extension. Farmland rental rates are the largest input cost the farmer has. Determining a fair farm rent agreement is a challenge in today’s economy.
Negotiating a fair rental agreement that satisfies the landowner and the farmer is a challenge. David Bau and Nathan Hulinsky, Extension Educators in Ag Business Management, will provide several ways; by examples, factsheets and worksheets 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 farmland values and sales, a worksheet that will help determine a fair rental agreement. Input costs will be presented along with current corn and soybean prices. Worksheets will examine costs and what is affordable rent that a farmer will be able to pay, the rate of return to the landlord at current market values and examine flexible rental agreements.
Make plans to attend one of the local meetings. There will be meetings in Norman County at the Ada Event Center at 10 a.m. on December 16, and Polk County at the McIntosh Community Center in McIntosh at 1 p.m. on December 16. PLEASE Pre-register by going to this website: z.umn.edu/PolkNormanLandrent21.
The Registration deadline will be December 13. If there are less than 10 registrations or a major weather event, the virtual meeting will be moved. Attendees will receive several informative worksheets and factsheets that will help to determine what is a fair farmland rental rate is.
For more information on the workshop, please call or e-mail Heather Dufault, 218-280-1129, orpohl0024@umn.edu.
