Posted 5/22/2020 08:49 (#8273109 - in reply to #8273054) Subject: RE: When Is Rent Usually Paid?
I’ve written 3 replies and trashed them all. I’m more curious than helpful.
Living in corn/ bean area most folk assume rent covers the growing season of April through October and only split rents if sold in the summer months, or closing is held off until winter with that spelled out in the sale. We have the 5 dead useless months to transact land no one is using it owner or tenant.
I too am curious how a land lease is structured in a year around, overlapping crop area.
And, in areas where only winter crops are grown.
How do you get in and out of a lease with winter wheat and second crop beans, for example. Using the calendar year wouldnt seem right for lease terms.
Would need to better understand how ‘common’ rental terms are worded in those areas.
And is there property (real estate) taxes, how were they pro rated? That would tip off how rent should follow....