Farm landlords and the future, part 2

Continuing last week's topic, Darren Frye writes in this week's Finance First column about the sorts of topics you might want to cover while you're checking in with your landlord this autumn. It's not all about how your crops are doing this season. You should also take the opportunity to impart some knowledge on the state of affairs in agriculture, and share your plans for the future - including a continued partnership with your landlord.

Tell them about the good and the bad. We've got great weather and crops, but that means prices will be lower and times are pretty tough right now despite the promise of a bright long-term outlook. Make sure they realize the challenges you're facing in the ag economy are short-term hurdles that can be overcome.

Make sure you don't bring a "me first" attitude to the conversation. You both want a fair deal out of this relationship, after all. That might entail reworking your cash rent for 2017. Maybe you'll talk about the option to use a flex rent lease, or a minimum rent with a bonus built in if things go better than expected.

Darren puts it all into perspective in this week's post on FarmFutures.com.

http://farmfutures.com/blogs-farm-landlords-future-part-2-11433