UMN Extension Hosting Land Rent Meetings in Polk & Norman County

McIntosh, MN. (10/1/2022)— Landlords, Farmers, Agri-Business Professionals should make plans to attend one of the informative meetings being held across Minnesota. These free meetings are being provided by the University of Minnesota Extension. Farmland rental rates are the largest input cost the farmer has. Determining a fair farm rent agreement is a challenge in today’s economy.

Negotiating a fair rental agreement that satisfies the landowner and the farmer is a challenge. David Bau and Nathan Hulinsky, Extension Educators in Ag Business Management, will provide several ways; by examples, factsheets and worksheets to determine a fair farmland rental rate for both parties.

Heather Dufault, Norman and Polk County Extension Educator encourages both landowners and land  renters to make plans to attend.

Topics covered at the meetings will include local historic and projected farmland rental rate trends, current farmland values and sales, a worksheet that will help determine a fair rental agreement. Input costs will be presented along with current corn and soybean prices. Worksheets will examine costs and what is affordable rent that a farmer will be able to pay, the rate of return to the landlord at current market values and examine flexible rental agreements.

Attendees will receive several informative worksheets and factsheets that will help to determine what is a fair farmland rental rate is.

Please pre-register for Polk & Norman County meetings by going to z.umn.edu/LanRent2022.

The Polk County meeting will take place on November 17. 2022 in Crookston at the Valley Technology Park-University of Minnesota Crookston Campus at 10 am and for Norman County in Ada at the Ada Event Center at 2pm. The virtual zoom meeting will take place on December 15, 2022 at 10 am. If you choose the virtual option, the link will be emailed to you.

For more information on the workshop, please call or e-mail Heather Dufault, 218-280-1129 or pohl0024@umn.edu.