Attention Farm Tenants and Owners...It is that time of the year to start thinking about your Farms that you Lease out in Nebraska in regards to the leases. 
If you are outside of Nebraska....check your state guidelines and laws.
If you...the Tenant... have a Lease in writing...do you know when the deadline is for renewal of the Lease? And what the particulars are for renewal? If not, I strongly suggest you review it.
If there is a Property Manager involved for the Owner...the Manager is probably gathering data on current rents and if there will be any changes for next year.
However...I urge both Tenant and Owner to be smart and review the lease yourself and make sure you know what is going on.
ARE YOU STILL OPERATING WITH A HANDSHAKE LEASE?
Oh yes, it still happens in Nebraska and I suspect most other states as well.
If you are one of those who do not have a written Lease...of course you are aware...or should be aware that in the state of Nebraska the Verbal Lease Renewal date is September 1. Are there any changes needed to be made? If so, those need to be in place and discussed between the tenant and owner by August 31.
With low crop prices for the Tenant and higher taxes for the Owner...will there be changes or not?
From my previous Blog: "If you....land owner or tenant...do not have an updated Verbal Lease in place by September 1 for any reason...death, illness, vacation, can't reach the tenant, etc....the previous year Lease will take precedence for the next crop year. If the previous year Lease is Auto Renewed...neither party can cancel without the other party agreeing."
I have mentioned before that I think you should do your self a huge favor and get your Lease in writing. Why? To protect your interest for the next crop season...so everyone knows what is going on...so the gray areas become black and white...so you have a legal leg to stand on if you go to court...for insurance reasons and on and on.
If you still think your handshake agreement will hold up...at least read the attached article.
https://www.linkedin.com/pulse/verbal-leases-nebraska-farm-land-due-august-31-mike-mccann
Contact me if you have questions of any kind on your Lease or if you need a Farm Manager or are thinking about selling your farm.
Tenants...I have Buyers that will buy the farm you are leasing and will continue to lease it to you so you can keep farming...call me!
Until Next Time...
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