Agricultural Economics Department
Date of this Version
8-14-2019
Citation
agecon.unl.edu/cornhuskereconomics
Abstract
According to recent findings from the USDA Agricultural and Resource Management Survey, agricultural land rent totaled $2.44 billion in Nebraska for 2018. The survey found rent as the third largest farm and ranch production expense (USDANASS 2019). Natural disasters limiting the ability of farmers or ranchers to fully utilize rented land pose a financial risk to these operators.
The 2019 floods and related natural disasters lave left many landlords and tenants across Nebraska wondering how resulting damages will influence their agricultural properties . Contractual lease arrangements may have not fully accounted for these natural disasters. This article provides guidance on evaluating damages, considerations for remediating land issues, and natural disaster lease provisions.