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Lease Pricing for Farm Real Estate

Author

Listed:
  • Peter J. Barry
  • LeeAnn M. Moss
  • Narda L. Sotomayor
  • Cesar L. Escalante

Abstract

A lease pricing model for farm land is developed that is consistent with traditional leasing principles and allows greater flexibility in determining crop share levels either separately or in combination with a fixed cash payment. The share levels are linked to the farm's soil productivity, the costs of each party's resource contributions, and their respective cost structures. The resulting menu of lease prices can enhance the equitability of leasing contracts, expand the range of contract choices, promote mutual incentives for the leasing parties, and heighten the efficiency of leasing markets through greater standardization of leases.

Suggested Citation

  • Peter J. Barry & LeeAnn M. Moss & Narda L. Sotomayor & Cesar L. Escalante, 2000. "Lease Pricing for Farm Real Estate," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 22(1), pages 2-16.
    • Handle: RePEc:oup:revage:v:22:y:2000:i:1:p:2-16.
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    File URL: http://hdl.handle.net/10.1111/1058-7195.00001
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    Citations

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    Cited by:

    1. Barry, Peter J. & Escalante, Cesar L. & Moss, Leeann E., 2002. "Rental Premiums For Share Versus Cash Leases," 2002 Annual meeting, July 28-31, Long Beach, CA 19684, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Paudel, K. P. & Lohr, L. & Martin, N. R., 2000. "Effect of risk perspective on fertilizer choice by sharecroppers," Agricultural Systems, Elsevier, vol. 66(2), pages 115-128, November.
    3. Escalante, Cesar L. & Rejesus, Roderick M., 2005. "Farmland Control Decisions under Different Intertemporal Risk Behavioral Constructs," 2005 Annual meeting, July 24-27, Providence, RI 19113, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Kuethe, Todd H. & Paulson, Nick, 2014. "Crop Insurance Use and Land Rental Agreements," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170528, Agricultural and Applied Economics Association.
    5. Roderick M. Rejesus & Cesar L. Escalante & Ashley C. Lovell, 2005. "Share Tenancy, Ownership Structure, and Prevented Planting Claims in Crop Insurance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(1), pages 180-193.
    6. Escalante, Cesar L. & Barry, Peter J., 2003. "Farmland Leasing Decisions and Successful Debt Repayment Strategies," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2003, pages 1-10.
    7. Nicholas D. Paulson & Gary D. Schnitkey & Bruce J. Sherrick, 2010. "Rental arrangements and risk mitigation of crop insurance and marketing," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 70(3), pages 399-413, November.
    8. Rainey, Ronald L. & Dixon, Bruce L. & Ahrendsen, Bruce L. & Parsch, Lucas D. & Bierlen, Ralph W., 2005. "Arkansas Landlord Selection of Land-Leasing Contract Type and Terms," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 8(1), pages 1-19.
    9. Escalante, Cesar L. & Barry, Peter J., 2001. "Risk Balancing in an Integrated Farm Risk Management Plan," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 33(3), pages 413-429, December.
    10. Moss, Leeann E. & Westgren, Randall E. & Schnitkey, Gary D. & Barry, Peter J., 2001. "A Transation Cost Economics And Property Rights Theory Approach To Farmland Lease Preferences," 2001 Regional Committee NC-221, October 1-2, 2001, McLean, Virginia 132406, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    11. Escalante, Cesar L. & Barry, Peter J. & Park, Timothy A. & Demir, Ebru, 2004. "Farm-Level And Macroeconomic Determinants Of Farm Credit Migration Rates," 2004 Annual meeting, August 1-4, Denver, CO 20227, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. Escalante, Cesar L. & Park, Timothy A. & Barry, Peter J. & Demir, Ebru, 2002. "Determinants Of Farm Credit Migration Rates," 2002 Regional Committee NC-221, October 7-8, 2002, Denver, Colorado 132368, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    13. Kualwik, Jacek, 2016. "Selected problems of farmland valuation and setting rents for its lease," Problems of Agricultural Economics / Zagadnienia Ekonomiki Rolnej 252639, Institute of Agricultural and Food Economics - National Research Institute (IAFE-NRI).
    14. Kuethe, Todd H. & Bigelow, Daniel P., 2018. "Bargaining Power in Farmland Rental Markets," 2018 Annual Meeting, August 5-7, Washington, D.C. 274113, Agricultural and Applied Economics Association.
    15. Paulson, Nicholar, 2012. "Revisiting Flexible Cash Leases," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2012, pages 1-13.
    16. Rejesus, Roderick M. & Escalante, Cesar L. & Cross, Mike H., 2003. "Opportunity Costs, Share Leasing, And Prevented Planting Claims In Crop Insurance," 2003 Annual Meeting, February 1-5, 2003, Mobile, Alabama 35017, Southern Agricultural Economics Association.
    17. Hotopp, Henning & Mußhoff, Oliver, 2012. "Can rent adjustment clauses reduce the income risk of farms?," International Journal of Agricultural Management, Institute of Agricultural Management, vol. 1(4), pages 1-10, July.
    18. Janssen, Larry & Xu, Xuan, 2003. "South Dakota Farmland Leasing 2003," Research Reports 200303, South Dakota State University, Department of Economics.

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