University of Missouri Extension agriculture business specialists will discuss issues such as when a tenant should pay part of the rent, how and when to terminate a lease and, how much rent is fair at a farm lease program on Tuesday, November 1st. The program has two different time options for those that would like to attend: 2:00-4:30pm or 6:00-8:30 pm. Each program will be held at the Cass County University of Missouri Extension Center (201 W. Wall St., Harrisonville, MO).
Nathanial Cahill, MU Extension Agricultural Business Specialist, will conduct the workshop. “Farm leases are a very hot topic right now with cash rents at their current level and with crop and livestock prices dropping. Thus landlords and tenants need to make certain they’re getting what they believe they should be,” says Cahill. The training comes at a time when crop prices are forecasted to be low over the next few years. Many landowners, including retirees, depend on rental income, and their tenants are concerned about a decrease in farm income due to low commodity prices.
“It is important for both parties to communicate and understand the various issues each party faces in order to reach an equitable lease agreement arrangement,” he says. Negotiating the right lease is important to avoid potential misunderstandings and disputes.
Missouri has unique laws regarding leases. The following topics will be covered:
Parts of a successful lease,
Missouri leasing laws,
Cash rental trends, and
Options in farm rental agreements.
The cost to attend this workshop is $20 per person or $30 for couples sharing materials. Pre-registration is required by October 31st. Enrollment is limited due to room size, so registrations will be accepted on a first come basis. To register for the workshop, contact the Cass County MU Extension Center at 816-380-8460.
