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WORTHINGTON — Landlords, farmers and agri-business professionals should make plans to attend one of the informative farm rental agreement meetings planned across Minnesota in the coming months. These free meetings are conducted by University of Minnesota Extension.
Farm land rental rates are the largest input cost the farmer has. Determining a fair farm rent agreement is always challenging. Negotiating a fair rental agreement that satisfies the land owner 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 farm land 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 and a worksheet that will help determine a fair rental agreement. Input costs for 2022 will be presented, along with current 2022 corn and soybean prices.
Worksheets will examine 2023 costs and what is considered an affordable rent that a farmer will be able to pay in 2023, the rate of return to the landlord at current market values and flexible rental agreements.
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Make plans to attend one of these meetings being offered. No pre-registration is required.
In this region, meetings are scheduled:
Nov. 15: 1:30 p.m., Murray County Fairgrounds 4-H building, 3048 S. Broadway Ave., Slayton.
Nov. 22: 1:30 p.m., Brown County Extension Office, 300 Second Ave., Sleepy Eye.
Dec. 14: 9:30 a.m., Pipestone County EMS Building, 811 Fifth St. SE, Pipestone.
For a complete listing of workshops, visit z.umn.edu/LandRental/.
