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Penn Yan, NY | I think it has a lot to do with what both parties are comfortable with.
We just signed a new lease on 30ac that we will be pattern tiling and removing some hedgerows on. Total cost will be about $30,000 for everything.
The lease is written so that the value depreciates over the 10 years but if we walk away we walk away from the Investment too. The value of the project is equal to about $100/ac/year. We are leaving the cash rent unchanged and the additional investment brings the total yearly payment/investment up to where going rent is for that type of land.
In 2021 i paid rent but didn’t harvest a crop because it wouldnt stop raining. With organic crops I’d have my investment back in 2 years like that. We have crop Insurance for corn/soy but not edibles because the premium doesn’t make sense so that crop was not insured. | |
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tiling rented ground
