Advertise in Print | Subscriptions
Published January 17, 2013, 05:45 PM

Managing rental agreement risks

North Dakota workshops aim to help.

Landowners, renters and other agribusiness professionals with an interest in farmland ownership, management and leasing should consider attending a farmland leasing workshop sponsored by the North Dakota State University Extension Service.

Workshops scheduled for January through March are as follows:

•Jan. 23, 9 a.m., City Hall, Forman.

•Jan. 23, 1:30 p.m., Fireside Restaurant, Ellendale.

•Jan. 28, 1 p.m., McKenzie County Courthouse, Watford City.

•Jan. 29, 9 a.m., Divide County Courthouse, Crosby.

•Feb. 11, 1 p.m., Morton County Fairgrounds, New Salem.

•Feb. 12, 9:30 a.m., Civic Center, Beulah.

•Feb. 13, 1 p.m., American Legion, Finley.

•Feb. 19, 1 p.m., Walsh County Extension office, Park River.

•March 7, 9 a.m., Winter Show Building, Valley City.

Rising land values, strong commodity prices and high production costs have made it more difficult for operators and landowners to successfully determine appropriate farmland lease arrangements. The workshops are offered to help landowners and renters identify and manage the risk associated with rental agreements.

Dwight Aakre and Andy Swenson, extension farm management specialists, and Willie Huot, Grand Forks County extension agent, will be the main presenters.

One of the topics is a historical perspective on farmland values and rents. Concepts and practical examples of how to determine equitable rents also will be presented. The main session will help participants better understand different rental arrangements, such as cash rent, share rent and flexible cash rent.

There will be a session on how producers can improve their land rental negotiations by enhancing the communication process with landowners. This includes the use of resumes, portfolios and frequent communications to keep landowners informed and educated about their operation and vision for a particular tract of land.

Tags: