Preparation can be key to successful landlord meetings

As winter begins, many farmers turn their attention toward meetings with their landlords. Inevitably, some landowners are going to ask for more cash rent next season for the use of their land. Don't go in to your landlord meetings with knocking knees; do your homework first, and go into that meeting prepared to be transparent.

First, understand who your landlord is and where he's coming from. What does he want from the relationship? He might not even have an ag background or the first clue what it's like to be in your boots. Be prepared to help him understand. Crunch your financial numbers. Figure out what you can and can't afford for that land, and get ready to share that information if it's necessary for a negotiation.

Aaron Bertels shares the story of a farmer who knew an unfeasible land price increase was heading his way and worked with an ag finance specialist to prepare spreadsheets demonstrating how such an increase would be a crippling blow to his operation. Hear how that situation played out to be beneficial for both parties at the link below.