Farm buildings and land often last longer than the owner has a need for them, but may still be usable by other farmers. Those farmers, especially beginning farmers, may not be in a position to invest in new or to upgrade existing facilities. Both parties may benefit by entering into a landlord-tenant relationship. The owner may receive a return on property that might otherwise remain idle or be underutilized. The farmer may use the property without making a large fixed investment. However, the owner – the landlord – and the farmer – the tenant – must agree on various elements when developing a rental agreement for crop or livestock buildings, or farm land.
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Katie Wantoch
Katie Wantoch is a farm-management outreach specialist and professor of practice with the University of Wisconsin-Division of Extension. She focuses on farm-business financial and risk management. Visit farms.extension.wisc.edu/author/kwantoch/ for more information.
