O/T Land Lease Pricing?

Pete_5959 · Feb 5, 2014

Looking for advice on pricing out a piece of property I have in Western Kentucky. It is 43 acres with 2 small fresh water ponds predominately hay field and fenced nicely. I had been renting it to a fella for the past 10 years at $750.00 a year. It that where I should be on this as I will have to find a new tennant this year? Thanks for any and all input.

aFORDable · Feb 5, 2014

Sounds cheap to me but I don't know what pasture or hay ground rents for. I know around here (also w. Ky.) cropland is renting for 150-200 average per acre. Ask some local farmers what they think about the price.

danmcdonald · Feb 5, 2014

I get $225 per acre but that's in in IL.

David G · Feb 5, 2014

Talk to your local extension office, they will have all the information. It really depends on the locality. You cannot touch ground here for less then $350 per acre.

GordoSD · Feb 5, 2014

Absolutely no less than $50 an acre.

Ray · Feb 5, 2014

You could get a lot more than that from sportsmen or people on vacation.

LAA · Feb 5, 2014

Has the current tenant been cutting hay off of the place, grazing cows or both? If he has been cutting hay has he limed and fertilized to soil test? It is very good to have in writing that the tenant must lime and fertilize to actual crop production or to a yearly soil test. Hay, especially grass hay, takes the most nutrients out of the soil of anything you can grow because everything is removed, failing to fertilize and lime hay land burns the land out in a hurry, if you have broomsedge you need lime and fertilize.

attached link to 2013 rent chart for Kentucky

http://www2.ca.uky.edu/cmspubsclass/files/ghalich/2013LandValueSurvey.pdf

Anonymous-0 · Feb 7, 2014

$1100 per year would be a little more like it in my area.

O/T Land Lease Pricing?

Pete_5959

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aFORDable

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danmcdonald

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David G

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GordoSD

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Ray

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LAA

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Anonymous-0

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