A reminder of an important deadline is coming up for those individuals who have farmland lease agreements.

ISU Extension Farm Management Specialist Alexis Stevens says the deadline to make changes to farmland lease agreements is by September 1st. She points out that in Greene County alone, about 58 percent of the farmland is cash rented, and she doesn’t see that trend slowing down.

“We’re definitely seeing a lot more people cash renting. You know as we see the farm operators getting older and we don’t have as many young people coming into the operations, we’re seeing a lot of older landowners, you know people who have inherited the farm, people who are living out of state, who don’t have any connections to the farm that own the farmland.”   

Stevens notes that if no termination or changes are made to a farmland lease agreement by the September 1st deadline, then the agreement automatically renews for the next year. She has this advice to better protect both parties.

“I strongly, strongly encourage you to have a written lease, In case something happens to you (as the landowner) or the producer that your family has a record of that information. It’s totally legal in the state of Iowa, you could lease out 1,000 acres and just do that on a handshake and a smile, but I wouldn’t recommend it.”    

Stevens hopes the landowner and tenant can come to a fair and reasonable rate going into the next year.