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Running a farm these days is not exactly an easy task for countless Americans.
As all too many farmers know, when you throw-in all the costs associated with keeping a farm going, dealing with various weather conditions which can cripple or even destroy a season or more of hard work, and the fact that more and more land developers are trying to scoop-up land faster than they can buy it, farmers oftentimes wonder if their business livelihoods are going south in a hurry.
With that said, some farmers are finding innovative ways to make money off of their lands besides the rather obvious task of growing crops.
Land Rentals Can Be Financially Beneficial
In order to survive in today’s world of farming, more farmers are opting to push the envelope a little and step outside the box of what once might have been thought of as taboo when it comes to farming life.
For example, some farmers are renting out their lands to hunters, allowing the latter to use the properties from time to time for solely hunting purposes.
For the hunter, they have access to game that they may not be able to find in other locations, especially when so many spots have “no trespassing” signs on them.
In return, the farmer receives money that he or she can put towards harvesting crops, fixing old or buying new machinery, and even removing some animals that are in fact causing damage to the crops one is growing.
So, what sounds like a win-win situation for both the hunter/s and the farmer can at times be a little more tenuous, making it all the more important that both sides are in agreement as to what is and is not allowed on the property.
Land Rentals Can Present Challenges
As an example, say one or more hunters are on a farmer’s land to hunt some deer, something a neighboring property owner takes exception to. Before you know it, you could have a verbal and perhaps worse confrontation.
In looking at the issue, the farmer giving hunters the right to hunt and shoot game on his or her property has every right to do that. On the other side of the coin, one can see where there is potential for conflict, though all sides are more than likely to find an amicable solution to the matter.
Another reason for farmers to rent out their land for hunters at times is to actually control issues with game.
For example, certain types of animals may literally be destroying crops on a regular basis. When you are dealing with factors such as drought, harsh winter conditions, and man-made problems, farmers may find certain kinds of animals coming to their property to survive.
With that in mind, if the farmer is physically unable and/or too old to do the hunting on their own, they may contract out with hunters to do it for them.
Speaking of contracts, it is of the utmost importance that both farmers and hunters are on the same page when it comes to what is expected of both.
Farmers should also make sure that they have the right personal liability insurance in place.
In the event a hunter or hunters are injured on a farmer’s land, the former could end up suing the latter, something that could have a major financial impact on the farmer and their family.
Another factor in play when hunting on farmed land is if the hunter invites a few “others” to join in the hunt.
In what is otherwise known as sub-leasing, farmers want to make sure they can account for any and all individuals hunting on their property. Once again, liability issues could come into play if one or more people are injured while on the hunt.
If you are looking to rent your land out to hunters, keep the following factors in mind:
- Set clear terms about who is allowed on the property, when, and for what specific hunting reasons;
- Agree to a fixed price on renting out your land. Things can get sticky when one of the parties disagrees with the original language;
- Make sure you have personal liability coverage. It just takes one accident to hit you in a tremendously negative way.
Farmers in search of some additional cash flow may find renting out their lands a good idea.
If you might be one of them, make sure you’re game for all that goes with it.