CHICAGO – May 2, 2019 – To reduce the risk associated with farmland ownership and to simplify the land rental process, Tillable, the online marketplace for the $32 billion farmland rental market, today announced the launch of its new Hassle-Free Lease.
Under the Hassle-Free Lease, Tillable provides landowners a one- or three-year rental offer for their land, pays the landowner up front and in full, and finds a farmer to operate on their land for the duration of the lease beginning in the 2020 growing season. It also provides certainty that landowners receive a fair lease payment, eliminating the risk of market volatility, destructive weather, or unfair rental contracts that ultimately damage profitability. The three-year option is particularly unique in that Tillable pays landowners for all three years upfront, providing a way to convert their fixed farmland asset to significant cash on hand, without having to sell or borrow against it.
“Landowners in the U.S. leave an estimated $8 billion per year on the table because they undervalue their land,” said Corbett Kull, co-founder and CEO of Tillable. “Our new Hassle-Free Lease combines the power of current market data with our digital marketplace to help landowners get paid a fair rental price, and takes away the burden of farmland ownership—from finding a farmer and negotiating lease contracts to making sure the property is properly cared for long-term.”
After the landowner and Tillable agree upon a one- or three-year fair rental offer through the Hassle-Free Lease, Tillable handles the rest:
1. Payment—Tillable immediately pays the landowner for the value of the lease in full, before the 2020 growing season starts.
2. Lease Agreement—Tillable either negotiates and continues working with the landowner’s current farmer or finds a new and qualified farmer to work the land.
3. Performance Reporting—The Tillable platform tracks farm performance data, using data provided by the farmer to report back to the landowner on a consistent basis, ensuring the land is treated with respect so it can continue to provide the landowner lifelong value.
For landowners, Tillable makes it easy to rent farmland by providing upfront payment and finding a farmer (or working with their existing farmer) to care for the land. For farmers, Tillable helps identify available land for rent and helps them collect data about their operations to continue building their reputation.
Additionally, Tillable mitigates the risks of fluctuating commodity prices and the impact of destructive weather patterns by providing upfront payment for the lease ahead of the 2020 growing season.
“Leasing your farmland through Tillable means you’re set for the entire growing season—no more worrying about volatility in the market,” said Kull. “We also make sure to find farmers who will act as good stewards of the land. That way, landowners can rest assured their property is cared for and remains a protected investment for years to come.”
For more information about Tillable, visit tillable.com.
Tillable is the first true online marketplace for the $32 billion U.S. farmland rental market, optimizing returns for landowners and helping farmers access land to expand operations. Its easy-to-use digital platform makes it easier and faster than ever before for landowners to take care of their farm lease, and for farmers to find available land to rent. For more information, call 833-845-5225 or visit tillable.com