questions re leasing land

farmgirl

Hi. I have been leasing land for the past number of years with only a verbal agreement in place. I receive a single payment for this every April. The problem is, with only a verbal agreement in place for so long I can't remember whether that payment refers to the year passed or is it for the coming year? I know this may seem rediculous but this is the position I find myself in. Any suggestions as to how I might find out this info without actually asking the tenant? I would try the accountant but I'm having difficulty contacting him at the moment. Any ideas as I need to get this sorted and draw up a proper lease agreement.

Pacoa

If its a fixed amount every year then maybe looking at bank statements might help.

bob charles

im a bit lost, are you the leasor or leasee? Where has this fixed payment being coming from? and what was it originally for?

sinewc

I thinks it's safe to assume that you paid in advance. That is that you pay at the start of the year for the coming season. That's the only way I've ever seen land leased or rented.

iverjohnston

From reading your first post, I believe that you are leasing out your land to a tenant. The tenant pays you every April?
If you can remember did you have to wait a year for the first payment?
Did they pay you all at once the first year, or all in April
?
Is the tenant using the land over the winter months?
Who used the land before this tenant started renting, was it your self?
Any old lodgement books you could check?

bob charles

I pay rent in advance, at mid point and arrears to different landlords so anything is possible