Is this ground worth it? Managing cash rent costs starts with being financially savvy about what you’ll pay. The return your ground is giving you must be part of your analysis in determining how much you’re going to be willing to pay for rent. Of course, this includes how that ground is producing and all the costs involved in farming it. You need to know what that number is for each piece of ground you’re renting or thinking about renting. That will help as you determine whether the ground is worth what the landlord is asking for, or if some negotiation may be in order.

Am I working to build and strengthen the right relationships? When it comes to having a good relationship with your landlords, it’s all about knowing who they are and what they want most from you. Do you know what matters most to each of them? The answer might not necessarily be what may first come to mind. Work intentionally to grow relationships with them through proactive communication, including questions to help uncover their main priorities for their ground and for their landlord-tenant relationship with you. If you have multiple landlords, you’ll want to determine who you need to get to know better and which relationships are top priority.

What am I doing to enhance my negotiation skills? If you haven’t already needed to sharpen your game in this area, the time is coming where you’ll want negotiation skills in your back pocket. The first step is to have already answered the first question above: Is this particular ground worth it? How much am I willing to pay for this ground – and what am I not willing to pay? Using your farm’s numbers to understand those thresholds is critical. The other part is being open and willing to propose some different ways of approaching rent to your landlord – such as a flex rent lease. Bringing them different options that work toward a win-win for both of you can demonstrate that you’re offering them the opportunity to share in the benefits of good years, as well.