This crop year could be the first time many growers and their landlords are dealing with flex rent with bonus structure. Because it's new territory, many landlords are unclear or still have a lot of questions around these agreements. It's important to keep a line of clear, open communication with your landlords throughout this growing season.
The most common landlord question will likely be the very simple, "Am I going to get a bonus this year?" But that might be the very tip of the iceberg with flex rent arrangements. Making your operation an open book for your landlord and being transparent throughout the season keeps trust between you and fills the landlord in on what's going on.
Of course, some people understand more than others when it comes to this or any other kind of lease agreement, so be sure to tailor your communication to the appropriate level of understanding. Likewise, don't overshare; find out how often your landlord might like updates, and follow their schedule.
Ag Finance Advisor Tim Brhel shares more on this topic in his discussion with KRVN's Dewey Nelson.