Renting out approx 35 acres?

Sonic the Shaghog

In the Midwest and have been only keeping the few cows for payments since the father died as he sold off all the machinery etc let the sheds go to **** and frankly at mid 30s myself don't think financially it's even worth investing to bring it all back, I reckon I'd nearly be 70 by the time I'd break even on a rough calculation of 50k minimum needed to bring it back into play.

So I was thinking should I just rent it out? It's just I've no experience with renting proper bar selling the odd cutting of fields etc.

We used be in the GLAS and I missed ACRES cause the name wasn't changed over in time. With the farm payments and GLAS it was worth about €7,500 + or so with minimum expenses

But I'd hardly make that in rent would i? There's a couple acres kinda wet ground but then it balances with some very good land.

Someone said you can let the person renting draw the entitlements? Would that be bonus to getting someone to rent or how does it usually work? Thanks very much

satguy

Why not just sell it and move on ??

Sonic the Shaghog

Because my home is here and attached to the land. My community is here. It's extra income, I'll have family who may want to use it when I move on etc not interested in selling

funkey_monkey

https://www.boards.ie/discussion/comment/122643903#Comment_122643903

Keep it. If you have or ever have children you might get a site on it in years to come. Will be a good foot up for them.

Can you segregate the poorer bits into a scheme yourself and then rent out the better ground? Some of the others on here would know the process of that.

As with all renting, make sure you know who you are getting as a tenant.

tabby aspreme

Talk to a local auctioneer, long term lease is tax free, which means a lot if your paying the higher rate of PAYE tax

limo_100

maybe if you hold on in a few years you will be able to get into the next acres or whatever else they come up with. Then u will be be able to make the 7k a year with minimum effort which would be possibly more than the rent you get plus what you can make yourself.

K.G.

REnting land is like marriage it works best if you find the right person.

QA1

In your in mid west ring gvm Kilmallock they let a power of land let it 5 year tax free and lease out entitlements to person renting as well

cuculainn

Hi

Just following up on this.....how does renting entitlements work?

You rent them to the person renting the land

So, do you charge a percentage of what they were worth to you + the land rental?

Am I right in saying after x number of years rented you loose the entitlements?

Kevhog1988

https://www.boards.ie/discussion/comment/122781022#Comment_122781022

I don't think you lose them as they are being actively farmed. You only lose them if your not claiming them. I might shoot you a pm. I will be in the market for some next Yr

farmqi28

Dont rent it and don't sell entitlements. Keep 15 sheep, Even if you have no sheep fencing it really wont take much to fence a few fields. Go organic you will have a other 3 or 4 thousand and look into some agroforestry.