Farmland Rent ConsiderationsDOWNLOAD
December 6, 2022 - Author: Jonathan LaPorte, Farm Management Educator
Land rent prices vary tremendously from county to county. In Michigan, factors such as field size, access, soil type, soil fertility, previous cropping history, fencerows, telephone poles, wet spots, irrigation, tiling, and proximity to their farm operation all impact the price that farmers are willing and able to pay for land rent.
This factsheet is intended to help both landowners and producers work towards negotiating a reasonable rental value for farmland. Covered in this publication is information on common starting points for determining value, factors affecting farmland value, tips for negotiations, how to find average county rent values, and types of lease agreements.