Kingston,Mi | Good reply kentuckyfarmer, CURRANT farming (currant is a fruit, current is a time relationship). I first heard of the "pay you a portion of the agreed rent based on my performance with unrealistic yields" about 40 years ago. The operator rented land away from long term verbal agreements by substantially raising the rate. The new operator had the land owner sign a revolving 3 or more year lease. The agreed rental rate was based on yields that were achievable possibly 5% of the time if the best genetics, perfect weather from spring ground work till the harvest was over and on and on. When they settled up in the fall for less than the "agreed upon rent", they pointed out the rental rate was based on actual production and that the rental agreement was still in effect, the ultimate "gotcha". This agreement was eventually "improved" by an innovative operator who paid high rents, then deducted for each operation and application and to finish it off, yield was weighed on their scale. |