EAST LANSING, Mich. — The North Central Extension Farm Management Committee has published a website to help farm operators and landowners construct a farmland lease agreement they can both equally benefit from.
It can be difficult to write a lease agreement that provides flexibility for the farm operator and protection for the landowner.
“After you find a basic lease format, the challenge is to customize the terms and make sure that the needs of both the renter and landowners are covered by the terms,” said Dennis Stein, Michigan State University Extension farm business management educator.
As part of a farm risk management plan, Stein said that farmers should “develop and maintain positive working relations” with their landowners in today’s market situation.
The website, Ag Lease 101, at aglease101.org, contains land-rental information that may be useful as farmers put plans in place for the 2012 crop production season.