I want to know how I can do a better job of telling my landlords about what’s going on in our farm and negotiating rents with them. Any tips? — T.W., Illinois

During harvest, we may have more opportunities to connect and bond with our landlords. First, answer: What’s important to each of my landlords?

You may have landlords who used to farm or enjoy the farm. You might ask if they’d like to ride a couple rounds with you in the combine.

This can be a fun experience for them and a chance for you to tell the current story of your farm — what’s going well, any challenges you’re facing, changes you’re dealing with and improvements you’re making.

Connecting with your landlords and educating them about what’s going on is important, as there can be misperceptions about what’s happening. If we aren’t the ones telling our own story, someone else will probably be there to tell a different story about us.

Before negotiating with landlords, manage expectations with them throughout the year. Regular communication lets you establish expectations, such as discussing the current arrangement in the coming months.

For a strong landlord-tenant connection, an equitable relationship needs to happen over time. That means you need to have a strong understanding of your farm’s current financial position and profitability, as well as the potential consequences of letting that ground go. It’s about being well-informed before going into discussions.

Creating a formula or bonus for how your landlords can be compensated if the farm has a great year gives them the opportunity to participate in any potential upside. Build their understanding of how you’re working to make cuts and become more efficient across the board. That helps them understand that land costs are just one of the ways you’re working to ensure your operation will be financially healthy — in order to keep farming and take care of their land.

Frye is president and CEO of Water Street Solutions. Read his blog, Finance First, at FarmFutures.com.