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Land Rental to Relation

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  • 26-04-2011 4:14pm
    #1
    Mo60
    Closed Accounts Posts: 485 ✭✭


    If renting land to a relation is it normal practice to charge at full price or to charge a lower price?
    If a lower price, what percentage of the full rent is the normal rate.


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    #2
    reilig
    Closed Accounts Posts: 7,401 ✭✭✭reilig


    Mo60 wrote: »
    If renting land to a relation is it normal practice to charge at full price or to charge a lower price?
    If a lower price, what percentage of the full rent is the normal rate.

    Normally full price in our family anyway - unless there was some other type of "payment in kind".

    For example labour, turf cutting rights, care of a family member, a share of the crop etc, etc.


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    #3
    Mo60
    Closed Accounts Posts: 485 ✭✭Mo60


    reilig wrote: »
    Normally full price in our family anyway - unless there was some other type of "payment in kind".

    For example labour, turf cutting rights, care of a family member, a share of the crop etc, etc.


    Should it make any difference if the land has been signed over to one particular member of the family who now wants to rent out the land.


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    #4
    dar31
    Registered Users Posts: 1,701 ✭✭✭dar31


    Mo60 wrote: »
    If renting land to a relation is it normal practice to charge at full price or to charge a lower price?
    If a lower price, what percentage of the full rent is the normal rate.

    I'd be more inclined to charge them more, as they are likley to be more hassle then normal.
    There is a fence down, will ya get it fixed tomorrow
    The hedges need trimming.
    It could do whit a load of lime.
    I'll pay ya the rest at the end of the year, sure you know we don't have the cash.
    If there ever was a case for getting it wrote down, rock solid, on paper


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    #5
    Mo60
    Closed Accounts Posts: 485 ✭✭Mo60


    dar31 wrote: »
    I'd be more inclined to charge them more, as they are likley to be more hassle then normal.
    There is a fence down, will ya get it fixed tomorrow
    The hedges need trimming.
    It could do whit a load of lime.
    I'll pay ya the rest at the end of the year, sure you know we don't have the cash.
    If there ever was a case for getting it wrote down, rock solid, on paper

    You have quoted my feelings exactly. My O/H rented land to a close relative for a nominal rent who in turn took advantage at every opportunity. I feel if you do some people a favour they take that as a weakness and take full advantage.

    This is why I wanted to find out what rent should be charged, now the lease is coming to an end.


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    #6
    ihatetractors
    Closed Accounts Posts: 338 ✭✭ihatetractors


    Charge market price(or above if your not happy ;) ), have everything in writing in the agreement, have it so they have full responsibility for lime, fert, fences etc...


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