Title: Identify the components of a farm rent/lease agreement.
Course: Operating the Farm Business (18301-III) > Section: Operating an Agricultural Business

Identification should include explaining the value of each component of the rent/lease agreement, such as

- identification of landlord and tenant
- description of the property
- duration of the lease
- rent
- taxes
- utilities
- permitted and prohibited use
- entry
- maintenance and repair
- alterations and improvements
- stewardship and conservation
- subletting
- termination
- default
- monitoring and reporting
- insurance and liability
- dispute resolution.

Process/Skill Questions:

- What are the advantages of renting or leasing farm assets?
- What are the disadvantages of renting or leasing farm assets?
- What are the advantages of renting and leasing vs. owning farm assets?