There are three types of rent contracts you can attach to a field: Cash Rent, Flex Lease and Crop Share.
Cash Rent applies a per acre cost to the field. Flex Leases allow a per acre cost to be applied yet still allows the user to enter in flexes and bonuses that calculate off the actual yield on the field. Crop Share agreements allow the user to split the yield on the field as well as costs on the field. Crop Share agreements also allow a user to track splits on a field if multiple parties are farming it.
After you have added the landlord names to the People tab, navigate to the Contracts tab under the Resources Page.
Click the Add button in the lower left and choose the Rent Contract option when prompted. The three page Rent Contract template with the first page being the field selection page. You may select more than one field at a time but the fields must be the same crop.
Next, move to the Agreement page of the template. Fill out the appropriate information under the Agreement Info column.
To enter a Cash Rent agreement, enter in the per acre cost for cash rent under the Agreement column and click Complete Agreement.
The user will enter the information under the middle column of the
page titled, Flex Lease. Note that the information captured here does not calculate anywhere else within Land.db and is essentially captured as a note to refer back to.
Crop Share Agreement
Crop Share agreements occur when two parties split the Revenue (Yield) and in some instances, the cost (Applications) on a field. In the below example, two parties split the costs and profits on a field 50% - 50%. When a user enters the split on the Agreement page of the template, it only splits the revenue coming off of the field.
If the user needs to document the splitting of costs on the field, the user must also advance to the third page of the Rent Contract template called Shares. On the shares page, the user may customize which costs are split between the two parties. In the below example, the grower and landlord split cost on seed, fertilizer, chemical but the grower assumes 100% of the services costs such as equipment, crop scouting, etc.
If the user is fronting the costs initially and charging the landlord later, the user may markup the input costs to charge the landlord.
If the user is billed for their 50% of the costs and the landlord is billed for their 50% of the costs, the user may change the far-right dropdown option to Direct Billed to Share Owner. This tells the software not to account for the bills that are directly sent to the landlord or second party.
Click the black Complete button when finished.
We also have a tutorial video covering how to create a rent contract, which is listed below.
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