Does anyone have suggestions on how to determine the monthly rental value of farm pasture land?

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Dale Serbousek, CRS, Broker (RE/MAX Whatcom County, Inc.)

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Rainmaker
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Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Haven Express @ Keller Williams Arizona Realty

Dipti nailed this one!

Jul 06, 2018 06:50 AM

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Rainer
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Dipti Thakkar

LAER Realty Partners - Andover, MA

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Compare nearby rentals.

May 16, 2018 11:10 PM

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Rainmaker
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Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

Nice answer from Jeff.

Jan 07, 2018 11:53 AM

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

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Jeff offers good advice here, another person who will know is Mike McCann - Nebraska Farm Land Broker

Oct 28, 2017 09:44 PM

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Rainmaker
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Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

I don't.

Oct 06, 2017 10:46 AM

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Rainmaker
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Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Now this is unique Dale. How did you do that?

Jun 25, 2017 10:18 PM

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Rainmaker
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Jeff Pearl

RE/MAX Distinctive / LIC in VA - Lovettsville, VA

Full Service Full Time Realtor

It varies. here many people will lease farmland to local farmers so they qualify for land use which gives them huge discounts on their real estate taxes. other farmers will lease on shares. They provide the land/barn etc, someone else plants and havests the crops, and owner might get 20-30% of the crop value, stil qualify for land use, and the farmer leasing the land still makes a profit. Each farm and owner is different. Some will rent farmhouse and 5-10 around house to one person, then lease remaining land to farm. It could be crops or livestock.

Jan 03, 2015 10:21 PM

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Rainer
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RVA HomePRO Michael Hottman

RVA HomePRO Realtor with Keller Williams serving Hanover, Henrico, Chesterfiled and Richmond, Virginia - Glen Allen, VA

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just like you do with rental properties - call other owners and see what they charge.

Jan 03, 2015 02:12 PM

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Tammy Lankford,

Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA

Broker GA Lake Sinclair/Eatonton/Milledgeville

I would call a local appraiser and a local farmer and perhaps and agent who specialized in farms and make a determination after those conversations and opinions are all factored in.

Jan 03, 2015 04:10 AM

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Rainmaker
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Dale Serbousek, CRS

RE/MAX Whatcom County, Inc. - Bellingham, WA

Broker

It is currently being used for cows...by a neighboring dairy farm. It is about 50 acres. I am sure it could be used for horses too. There is a small rental house with an old garage/barn that could possible be converted into 3-4 horse stalls. It is all flat and no trees...just pasture land.

Jan 03, 2015 01:52 AM

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Jeff offers good advice here, another person who will know is Mike McCann - Nebraska Farm Land Broker
It varies. here many people will lease farmland to local farmers so they qualify for land use which gives them huge discounts on their real estate taxes. other farmers will lease on shares. They provide the land/barn etc, someone else plants and havests the crops, and owner might get 20-30% of the crop value, stil qualify for land use, and the farmer leasing the land still makes a profit. Each farm and owner is different. Some will rent farmhouse and 5-10 around house to one person, then lease remaining land to farm. It could be crops or livestock.
just like you do with rental properties - call other owners and see what they charge.
I would call a local appraiser and a local farmer and perhaps and agent who specialized in farms and make a determination after those conversations and opinions are all factored in.
It is currently being used for cows...by a neighboring dairy farm. It is about 50 acres. I am sure it could be used for horses too. There is a small rental house with an old garage/barn that could possible be converted into 3-4 horse stalls. It is all flat and no trees...just pasture land.