1. Helping Landlords Find the Right Tenant
Damona Doye
Rainbolt Chair of Agricultural Finance
Brent Ladd
Extension Assistant
OSU Agricultural Economics Department
More than ½ of survey respondents classify agreements as good or excellent.

3. AGEC-268,Screening Potential Tenants for Agricultural Land
Osufacts.okstate.edu, Search for Tenant, Landlord

4. Understanding the land’s potential and constraints
AgSite assessment tool
soils, streams, wetlands and ponds, watersheds, floodplains, Karst Geology, nearby communities, legal descriptions, threatened and endangered species and aerial photography
NASS data on county averages
County estimates on major crops:
cash rents 2014
For OK, wheat, Sorghum, soybeans, peanuts, cotton, corn: planted for all purposes, harvested for grain, yield per acre, production
Hay: harvested, yield, production (alfalfa and other)
Cattle and calves, beef cows, milk cows
Poultry: Layers and pullets
Sheep, hogs and pigs

5. Preparing to lease land
Goal for the land?
Goal for the lease?
Non-negotiables?
Expectations with regards to operating practices?
Qualifications and attributes that you want in a tenant?
Minimum requirements for a tenant?

6. Tenant screening
Advertising: Include price and minimum requirements to screen parties who do not qualify
Newspapers, electronic lists
Local businesses
Other landowners or producers in the area

7. Tenant screening Verify ID if you don’t know the person
Ask for a farm resume
Look for legal issues:
Interview potential candidates
Ask for references

8. Interviewing candidates
Background and involvement in farming
How the property fits with their operation
Production practices and environmental philosophy
Equipment, special knowledge they bring
Risk management and marketing practices
Farm insurance coverage and agent
Length of lease desired
Plans for communication

9. With whom do you want to do business?
Do they meet requirements?
Are they dependable?
Are they financially stable?
How easy will it be to establish and maintain a working relationship?
What are their people skills? Communication skills?
Will they be a good neighbor?
Where is their base of operations?
What kinds of questions did they ask?

10. Follow up with references
Did they pay on time?
Any unpaid rent?
Any legal or tax issues?
Trouble or damage?
How was communication?
Would you rent to this tenant again?
Consider paying for services such as a credit check or background check.

11. Put the agreement in writing!
Encourages understanding by both parties
Serves as a reminder of terms agreed upon
Legal resource and guide for heirs
Consult with a lawyer
Free lease forms at
Pasture
Crop Share
Fixed and Flex Cash Rental Arrangements
Machinery and Equipment
Farm Building or Livestock Facility
Beef Cow
Memorandum of understanding
Provides legal protection

12. Leasing resources www.aglease101.org, publications, forms, worksheets
OSU production and management info
CR-216, OK Pasture Rental Rates
CR-230, OK Cropland Rental Rates
AGEC-940 Tax Aspects of Leasing
AGEC-198, Negotiation Strategies
AGEC-238, Screening Potential Tenants for Agricultural Land
Cash rents

13. Other OSU resources
OSU Farm Management Facebook Oklahoma Women in Ag and Small Business Facebook OSU Agricultural Economics Extension