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What is a fair farm rental agreement?


Friday, November 19 from 10:00 a.m. – 12:00 p.m. in Owatonna, Minn. or online

MINNEAPOLIS — Determining and negotiating a fair rental agreement that satisfies the land owner and the farmer is a challenge as farmland rental is the largest input cost a farmer has. The University of Minnesota Extension Educators in Ag Business Management are offering free meetings that will provide insight using examples, factsheets and worksheets to determine a fair farm land rental rate for both parties. Landlords, farmers, and agri-business professionals should make plans to attend one of these informative meetings offered across Minnesota and online.

Topics covered at the meetings will include local historic and projected farmland rental rate trends, current farm land values and sales, and worksheets that will help determine a fair rental agreement. Input costs for 2020 will be presented along with current 2020 corn and soybean prices. Worksheets will examine 2021 costs and affordable rent that farmers will be able to pay in 2021, the rate of return to the landlord at current market values, and will examine flexible rental agreements.

A meeting will be held locally at:

Steele County Community Center, 1380 S. Elm Street, Owatonna, MN

on Friday, November 19 at 10:00 a.m. – 12:00 p.m.

Pre-registration is required to attend. Seating is limited, masks are required, and social distancing will be implemented. Register for the Owatonna location at z.umn.edu/LandRentSteeleCo or contact Claire at 507-330-0447 or lacanne@umn.edu.

There will also be in-person meetings in Slayton, Rochester, Holdingford, Little Falls, Benson, Worthington, Buffalo, and Sleepy Eye. These sites will have limited seating and facemasks will be required to attend. You will need to preregister for all in-person meetings at: https://z.umn.edu/LandRentRegistration.

Regionally focused online zoom meetings are being offered as well. To register for an online meeting sign up at: https://z.umn.edu/LandRentRegistration.

Last modified: 11/02/2020

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