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Family Trust

My question is for anyone renting from a family trust. Do you feel as though you are paying what would be considered average rent for your area?

 

Thanks

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6 Replies
Veteran Advisor

Re: Family Trust

Best way to answer that question is to have a rent auction and find out.

 

Please announce date, time, and location to be certain to get lots of bidders for an accurate sample.

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Re: Family Trust

jdranch, I think you misunderstood me. I did not ask if people thought they were paying top rent for the area. I asked if they thought they were paying what would be considered AVERAGE rent for the area.

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Veteran Advisor

Re: Family Trust

Alright then man up and tell us what your paying.  Tell us the crop history, any HEL,

 

Is it in big fields or small,

 

How close to a grain buyer.

 

Are there any bins for storage or buildings that could be used.

 

Also yield history.

 

And we will tell you if it is fair.

 

Also telephone number of the manager of the trust so if you are getting a sweetheart deal we can get in on some of it.

 

Don't take this the wrong way but what you are asking is the impossible to answer. The only true answer is if you are happy and they are happy.

 

IF not ask why?

 

If you feel you are paying to much ask if it is below the highs you have heard about.

 

If it is to little you will soon find out if you should have been paying more.

 

If this is your families trust what is it worth to farm the same ground that your family has farmed for generations?  Also having the familiarity of the land is invaluable.

 

  How do you put a value to such things?

 

Hope you get the response you are looking for. (somehow I doubt you will)

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Honored Advisor

Re: Family Trust

I did not know there would be enough toad farms out there to compare rents ...

 

 My understanding is that most are owned and not rented.

 

Very hard to compare rents in a very thinly traded market.

 

Are toads a high value crop?  Labor intensive or more of a passive crop to raise?

 

Is there an association of Hopper Growers?

 

Are you in the commercial grower business or the stud toad end of the business?

 

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Senior Advisor

Re: Family Trust

You need to be talking to the trustee. If you are the trustee/operator, you need to be discussing this with your beneficiaries. What others pay should not concern you.

 

What do you think? Do you deserve a "special deal" for some reason or other?

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Honored Advisor

Re: Family Trust

yep,  Kraft is coming in closer than he did on the contest.  -------------and much closer than i did.

 

What's important is if you and the party in power are comfortable with the arrangement.  If you are looking out for the welfare of both,  ask around to the producers you respect and ck with the state ag university, most do a survey on the issue.

If u r feeling guilty for these grain prices or cattle prices----average the last 10 years and see how you feel.  Remember the 80's or find someone who does.

If u r feeling like the trust is not represented well, negotiate yourself out of guilt------if you can afford it.

 

Average doesn't mean much,  Relationships do.

 

 

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