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Land for grazing - rent

  • 21-08-2015 5:18pm
    #1
    Louisjnr40
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi can anyone advise me on current rent rates for land that is being rented for grass. I have recently have been given the responsibility for 30 acres of land that I need to rent. I have let the land temporarily , but i really do not understand this business. The land has electrical connection to a cottage for electrical fencing , this is currently costing me 20 euros per month , this needs to bees part of the overall cost of the rent. Can anyone advise or direct me to a reliable source of information. Thanks


Comments

  • #2
    sea12
    Closed Accounts Posts: 2,244 ✭✭✭sea12


    Louisjnr40 wrote: »
    Hi can anyone advise me on current rent rates for land that is being rented for grass. I have recently have been given the responsibility for 30 acres of land that I need to rent. I have let the land temporarily , but i really do not understand this business. The land has electrical connection to a cottage for electrical fencing , this is currently costing me 20 euros per month , this needs to bees part of the overall cost of the rent. Can anyone advise or direct me to a reliable source of information. Thanks

    Hi louise. The best thing for you to do would be to go to an auctioneer who can rent it out for you and do the lease. They will know the going rate.,

    Usually it an amount per acre. This will depend on the quality of the land. You can include the cost of the electricity in the deal or the farmer may prefer to use a battery fence. Most would use the eat connection from the cottage.


  • #3
    CHOPS01
    Registered Users, Registered Users 2 Posts: 760 ✭✭✭CHOPS01


    Fathers health is declining rapid so decision made to lease out 2 outside sections of ground.
    First is about 30 acres and about 20 in the second.
    If we go to auctioneer will they handle everything ?
    Is the sfp attached to the land?
    I know land can be leased out tax free. Is it up to us to declare that it is being leased or what way does it work?
    Popped an email to the Teagasc advisor to try meet up with him to get advise.Is this something they would normally bother with?

    Sorry for all the questions thanks


  • #4
    Username John
    Closed Accounts Posts: 4,237 ✭✭✭Username John


    CHOPS01 wrote: »
    Fathers health is declining rapid so decision made to lease out 2 outside sections of ground.
    First is about 30 acres and about 20 in the second.
    If we go to auctioneer will they handle everything ?
    Is the sfp attached to the land?
    I know land can be leased out tax free. Is it up to us to declare that it is being leased or what way does it work?
    Popped an email to the Teagasc advisor to try meet up with him to get advise.Is this something they would normally bother with?

    Sorry for all the questions thanks

    Let out some ground this year
    - I went to auctioneer, but had a tenant in mind. Auctioneer did all the paperwork
    - Rental agreements over 5 years are tax free (up to a certain amount, see here)
    - Rental agreement needs to go to revenue, and you need to pay Stamp duty on it (1% of annual rent I think it was) This has to be done to make it tax free
    - SFP I am not 100% on - I think next year you will be able to trade in entitlements again? I dunno when you are planing on letting it, but if next year *I think* you should be able to sell the entitlements, or lease them. But I am not sure of the details here.


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