U of M Extension to host workshops on fair farm rental agreements
Landlords, farmers, professional agri-business professionals are invited to an upcoming informational meeting about fair and profitable farm rental agreements on Thursday, Nov. 29 at 2:00 p.m. in Alexandria.
This free meeting is being provided by the University of Minnesota Extension. Farm land rental rates have never been higher and determining a fair and profitable farm rent agreement is a challenge in today's economy with near record corn and soybean prices and record farm land values.
Negotiating a fair rental agreement that satisfies the land owner and the farmer is a challenge. David Bau, Extension Educator in Ag Business Management, will provide several ways; by examples, factsheets and worksheets to determine a fair farm land 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 and profitable rental agreement. Input costs for 2013 will be presented along with current 2013 corn and soybean prices. Worksheets will examine 2013 costs and what is affordable rent that a farmer will be able to pay in 2013, the rate of return to the landlord at current market values and examine flexible rental agreements.
Attendees will receive several informative worksheets and factsheets that will help to determine what is a fair and profitable 2013 farm land rental rate.
The meeting will be held locally on Thursday, Nov. 29 at 2:00 p.m. at the Douglas County Public Works Meeting Room located at 526 Willow Drive in Alexandria. Please note there is a separate entrance and parking lot for meeting room use. Pre-registration is not required - just make plans now to attend this important meeting Meeting will last approximately two hours.
If you would like more information or have questions please contact the University of Minnesota Extension, Douglas County office at (320) 762-3890.