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Recreational Leases as Means to Increase Landowner Income

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  • Eberle, Phillip
  • Wallace, Russ

Abstract

Recreational leases for hunting, fishing, and wildlife watching provide a means by which landowners can supplement their income from land ownership. Illinois professional farm managers were surveyed regarding recreational leases held by their clients. Information was collected on lease rates, recreational uses, wildlife types, land management practices, and property characteristics. Results indicated that 38 percent of managers had recreational leases on about 6 percent of their managed properties. Lease rates ranged from $1-75 per acre. Results of a hedonic lease rate model indicated adoption of land management practices and location positively affected lease rates.

Suggested Citation

  • Eberle, Phillip & Wallace, Russ, 2008. "Recreational Leases as Means to Increase Landowner Income," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2008, pages 1-9.
    • Handle: RePEc:ags:jasfmr:189873
    DOI: 10.22004/ag.econ.189873
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    References listed on IDEAS

    as
    1. Hussain, Anwar & Munn, Ian A. & Loden, Emily K. & Grado, Stephen C. & Jones, Daryl W., 2005. "Factors Influencing Lease Revenue and Non-industrial Landowners' Willingness to allow Hunting Access," 2005 Annual meeting, July 24-27, Providence, RI 19326, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. John S. Baen, 1997. "The Growing Importance and Value Implications of Recreational Hunting Leases to Agricultural Land Investors in America," Journal of Real Estate Research, American Real Estate Society, vol. 14(3), pages 399-414.
    3. Buller, Virginia & Hudson, Darren & Parkhurst, Gregory M. & Whittington, Andrew, 2006. "The Impact of Hunting Package Attributes on Hunting Package Prices in Mississippi," Research Reports 15798, Mississippi State University, Department of Agricultural Economics.
    4. Hoppe, Robert A. & Banker, David E., 2006. "Structure and Finances of U.S. Farms: 2005 Family Farm Report," Economic Information Bulletin 33895, United States Department of Agriculture, Economic Research Service.
    5. Hoppe, Robert A. & Banker, David E., 2006. "Structure and Finances of U.S. Farms: 2005 Family Farm Report," Economic Information Bulletin 59404, United States Department of Agriculture, Economic Research Service.
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    Keywords

    Agricultural Finance; Land Economics/Use;

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