Mike Rankin, Hay and Forage Grower Managing Editor
(Previously published in Hay & Forage Grower: December 26, 2023)
Leasing a pasture is a common practice regardless of where you hang your hat. What isn’t common is for any two pasture rental agreements to be exactly alike. This is because no two pastures and their associated infrastructure (buildings, water sources, livestock working facilities, and fencing) are the same.
“For every pasture rental agreement, there are at least two viewpoints,” notes Andrew Griffith, an extension agricultural economist with the University of Tennessee (UT). “The landowner needs a rental rate that pays for all annual costs associated with owning the land, plus being compensated for the assets and resources on the property. The potential tenant is concerned with the resources available on the property and how they will contribute to generating revenue in the livestock operation.”
Griffith lists some of the resources that influence the rental rate include the grass stand and the types of forages; fences and cross fences; water sources and Continue reading