Leasing land

Ghost Buster

Evening.
Im sure this is a bit of a 'how long is a piece of string ' question..but..
I have inherited 11 acres which I have no use for so am thinking about leasing it to a farmer.
Its about 6 acres of good meadow and the rest, though rushy from neglect is good grazing when in order.
Roughly/ ball park what is the going rate per acre per year for such land.
You could tell me a tenner per year or 10,000 per year such is my ignorance so ball park is grand.

Nekarsulm

Ring a local Auctioneer to get a ball park figure for "bare" land. (ie, land without entitlements attached)

Make sure there is a clear understanding of when payment is due, and the date by which all cattle are to have been removed from the land. Usual to rent only for 11 months of the year, but you can specify the dates cattle go onto the land, and date they must be off. For grazing & silage use, look about 150 to 180 acre, and see how you get on. Remember, all farmers are poor!

Ask around about the prospective renter, see has he a reputation for not paying up. If you go through an auctioneer, the auctioneer is required to pay you and he has the worry about getting the money from the renter.

larrymiller

If it's a dairy farmer €350 an acre

Voodoo_rasher

In response to Nekarsulm..

An auctioneer does not have the power to obtain the rent from the tenant - read this -

http://www.independent.ie/business/farming/landowners-at-risk-as-unpaid-rent-not-covered-by-lease-terms-26643393.html

Its all very well letting the land for 11 months but try to find a tenant willing to spread slurry on it year on year : /.
They're only too eager to spread unsuitable fertilizers on it however, and take the good out of the land.

Where you are in the country is a good determinant for the amount you can expect per acre letting imho.

lakill Farm

Ghost Buster wrote: »

Evening.
Im sure this is a bit of a 'how long is a piece of string ' question..but..
I have inherited 11 acres which I have no use for so am thinking about leasing it to a farmer.
Its about 6 acres of good meadow and the rest, though rushy from neglect is good grazing when in order.
Roughly/ ball park what is the going rate per acre per year for such land.
You could tell me a tenner per year or 10,000 per year such is my ignorance so ball park is grand.

where in the country are you

Nekarsulm

Thanks Voodoo, I was in error there. Might as well lease it yourself then, stick an ad in the local mart or on the net. 100% payment up front, and draw up an agreement about closing dates, care of the ground, insurance liability if stock escape, etc.
Best of luck with the new land! Unlike cars , kitchens, or almost anything else you buy, it will be there forever.

Ghost Buster

lakill Farm wrote: »

where in the country are you

Longford

Ghost Buster

Nekarsulm wrote: »

Thanks Voodoo, I was in error there. Might as well lease it yourself then, stick an ad in the local mart or on the net. 100% payment up front, and draw up an agreement about closing dates, care of the ground, insurance liability if stock escape, etc.
Best of luck with the new land! Unlike cars , kitchens, or almost anything else you buy, it will be there forever.

Thanks. Actually know a farmer whos interested. Real decent guy . hes leasing land directly opposite us and has done a great job on it. Well fenced, hedges cleared and tidied etc so Im sure all will be well. Just looking for a rough suss of what to look for.

Nekarsulm

chat a tax adviser. I think if you sign a five year lease then the rent is tax free.

Miname

id say if you get 1-120 an acre you will be doing alright for land in need of tidying.

lakill Farm

Ghost Buster wrote: »

Thanks. Actually know a farmer whos interested. Real decent guy . hes leasing land directly opposite us and has done a great job on it. Well fenced, hedges cleared and tidied etc so Im sure all will be well. Just looking for a rough suss of what to look for.

for 11 acres your looking at probably 1000 a year depending on water supply, fencing and stuff like that.

where in Longford?