Posted by John77046 on June 29, 2009 at 07:19:32 from (216.249.192.147):
In Reply to: Land Lease Rates posted by robersw on June 29, 2009 at 05:53:39:
Stop by your County Extension Office. In South Dakota the Extension Service collects and reports average lease rates annually by growing areas of the State. Might also ask local land appraiser and ag banker(s).
If tennant or landlord supplies fencing material and/or labor should affect lease rate as well. Might consider weed control same way as to which (tenant versus landlord) supplies chemical and labor to apply it.
In my area for pasture it is not uncommon for landowner to supply fencing materials and pesticides (fertilizer?) while tenant supplies labor/application.
Ag land leasing varies tremendously by area. Local customs within a State will also vary. Ask around....local coffee gathering place?
Another suggestion when dealing with family, keep detailed records (written lease)to eliminate future disagreements and/or arguments. I can already see a potential trouble spot. If your cousin dies suddenly the heirs might "wonder" why you got it for free for awhile. Also eliminates potential for "selective memory" on all sides.
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