My neighbor is going to sell 50 acres that he presently rents out to two different farmers. I expressed some interest to buy and asked if he got the rent from both in advance. He said no and that they paid him at the end of the year. I don't really like that arrangement as tough times can be had and they won't pay me. Isn't getting the rent money up front the way to go?
- Thread starter BrianRM
- Start date
I think how/when rent is paid varies locally - "around here" (central part of upstate NY) rent is usually paid in fall , once you own it you can change the terms to suit yourself and ask for spring payment if you like.I would think anyone who intended to rent the land again would be inclined to pay the rent whenever it was due - spring or fall.
stevejd4000
Member
Yeah.. it's to be up front and around Apirl to be paid for the year. that's what it's use to be around here.
be paid by end of year is an RISK.
steve
be paid by end of year is an RISK.
steve
Anonymous-0
Well-known Member
My dad cash rents his farm and gets half in the spring and half in the fall.
John (C-IL)
Well-known Member
You didn't say what state you are in which may make a difference.
It is customary to pay at least half of the cash rent in advance. Anymore with the stakes so high it is probably appropriate to get it all up front, usually April 1st.
If the competition for land is anything like it is here in Illinois there won't be a shortage of tenants willing to meet or exceed your terms.
It is customary to pay at least half of the cash rent in advance. Anymore with the stakes so high it is probably appropriate to get it all up front, usually April 1st.
If the competition for land is anything like it is here in Illinois there won't be a shortage of tenants willing to meet or exceed your terms.
Anonymous-0
Well-known Member
NCIL, usual payment is half in spring (March1) and half in fall (Sept 1). Depending on tenant fall is variable but if there are problems you have crop on your land and a few legal weapons.
As others have said alot of people round here split the rent. Get half in spring or summer and half in fall or winter. I know some who do April/October, some do July/December. If I was cash rent'n I would want some up front, it's kinda like my grandfather said about people looking to lease oil rights, if they don't have front money they don't have money to do it right to start with.
Dave
Dave
Owner gets to make the rules, so whatever you want....
Used to be always paid in fall.
Over time there were monthly payments, then mostly split 50-50 spring & fall. Now a lot are paid up front, in spring.
'Here' with rents going to $200 an acre or better, that is a lot of money tied up. If you don't take some of the risk, you might end up with a few less bucks per acre. Someone is taking the risk, and the risk takers are supposed to get paid for that risk.....
50-50 or up front in spring is fine.
--->Paul
Used to be always paid in fall.
Over time there were monthly payments, then mostly split 50-50 spring & fall. Now a lot are paid up front, in spring.
'Here' with rents going to $200 an acre or better, that is a lot of money tied up. If you don't take some of the risk, you might end up with a few less bucks per acre. Someone is taking the risk, and the risk takers are supposed to get paid for that risk.....
50-50 or up front in spring is fine.
--->Paul
Anonymous-0
Well-known Member
My cash rent is paid in full in the spring before the renter does anything to the ground. It is his for the rest of the summer and when the crop is off it is mine again until the next spring. Works great for me as I have fall and winter grazing for my horses.
Bud
Bud
MarkB_MI
Well-known Member
- Location
- Motown USA
I would certainly split the rent. That seems to be standard practice. That way, you will at least get the taxes paid if the tenant stiffs you.
You don't say where you are or what type of ground this is. In many parts of the country, rent on 50 acres isn't enough money to worry about getting it in advance.
You don't say where you are or what type of ground this is. In many parts of the country, rent on 50 acres isn't enough money to worry about getting it in advance.
Similar threads
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today.
Copyright © 1997-2024 Yesterday's Tractor Co.
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
Yesterday's Tractors - Antique Tractor Headquarters
Website Accessibility Policy