What value are you adding outside of your cash rent check?
A few weeks ago I talked about adding value outside of the cash rent check you pay landlords each year. With many of the things mentioned, there is a direct payoff by applying these solutions to your farm. Many of them have a more immediate payoff than others but there is a payoff to both the farmer and the landowner. This value is what is called a tangible value. Tangible is something that can be seen, these are hard numbers or visual results. If you trim the tree lines and you have less crop loss from the lack of sunlight along tree lines, this is a tangible value. If you put in tile, you see a payback in less crop loss due to excess water. That is also tangible value.
But there are other things that do not have a visual payback. This value is called intangible value. This type of value is not hard numbers or a visual difference but is just as important and can be the reason many landlords would work with you.
So what are some examples of the intangible ways you bring value to the landowner?
Some may be inclined to think that mowing waterways and road sides are two examples. In some cases this may be but I look at this as just a part of doing business as the rentor. Everyone who rents ground does these things or at lease should do these things.
But what about mowing their landowner’s lawn when they aren’t able to or when they are out of town on vacation.
Removing snow from the landowners drive way is always a way to add value that many farmers have done for years.
Who has added a soybean based dust suppressant to the gravel roads in from of the landowner’s home?
I know many of you have fixed the occasional water line, rebuilt the lawnmower, or sprayed weeds.
Helping put down mulch, cutting wood or gardening are things to even lets your family get involved too.
Teach the next generation the importance of these relationship and that serving others is a part of life.
Another possibility is to open your shop or other pieces of your farm up for the occasional use.
Graduation parties, weddings, and local meetings that the landowner is involved in adds value but also allows you to get more personal with your landlord.
It all about relationship.
I can’t express enough that the relationship between you and the landowner should be just that, a relationship. Get to know them and allow them to get to know you and your family. What about the landowner who lives out of town and away from your farm? It is much harder to add the intangible value to them but it is equally important. You may need to get creative on how to best do that. I will save this topic for another blog post. Be looking for it in the weeks to come. If you have things that you have done in the past that you would like to share, leave me a comment or send me an e-mail privately and give me some feedback. You are more than just your cash rent check.