Farm Management; Farm Accounting; Yield Mangement
Farm Management Services
Our services can be tailored to meet customer needs. Our full service farm management includes tenant selection, lease negotiation, lease preparation, payment of real estate taxes, payment of property & liability insurance premiums, furnish accounting reports, prepare annual farm budget, oversee farm operation, review soil tests, lease & manage rental houses, oversee maintenance and capital improvements approved by clients. Improvements include land clearing, terracing and tiling.
Farm Accounting
A quarterly transaction journal listing farm income and expenses is provided to our clients. We also provide a year-end income statement and general ledger detail report to assist our clients with year end income tax preparation. A separate real estate trust account is maintained for each farm client. It is an interest bearing money market account, with the interest credited to the client’s account each month.
Farm Inspection & Reporting
Farm Leasing
We will review the farm lease on an annual basis and make recommendations to our clients on any necessary changes in lease terms. We negotiate the lease terms for our clients. Leases include cash rent, crop share and custom farming. We collect cash rent when due and file Landlord liens with the Secretary of State. We can’t guarantee the collection of cash rent for our clients, but we take all precautions to select financially sound tenants, file liens or collect the entire cash rent in full at the beginning of the lease term on March 1st.
Farm Budgets & Cash Flow Projections
An annual farm budget and cash flow projection is furnished to our clients. This report summarizes anticipated income and expenses for the year and the funds available for disbursement to our clients.
Farm Programs
Our firm handles all the paperwork required to enroll the farm in the government program and monitor to ensure compliance with all programs.
Farm Management & Other Fees
The fee for our full farm management service will vary depending on the size of the farm, the type of lease selected and the services provided. Our fees are typically a percentage of the owner’s gross income. We also offer a flat fee if a client prefers this method. Our fee is paid at the time the farm income is collected and deposited to the client’s farm account.
Other fees:Our fees are generally based on a percentage of the owner’s annual gross income from the farm. For example, on a farm rented on a crop share lease, the fee would be a percentage of the owner’s share of the income from crops produced. For a farm leased on a livestock share basis, the fee would be a percentage of the owner’s share of income from livestock raised or purchased for resale, not on the sale of breeding stock.
Naturally, the fees vary with the size and complexity of the operation. We also offer farm management services on an hourly or flat fee basis.
At no cost or obligation, we’ll be happy to make a personal visit with you to discuss your ownership goals and any problems you are experiencing. Following this visit, we’ll be able to quote a fair and competitive management fee for your consideration.
Our appraisal fee is $100 per hour plus mileage & copy expenses. A firm quote & completion date will be given at the time an authorization form is signed.
Our Real estate sales commission is determined by the size and complexity of the property. We offer a competitive fee that includes all advertising expenses. We handle the sales closing, disburse the net sale proceeds and issue the 1099S to the seller.
Our fee for farm consultation services is $100 per hour plus mileage.