But what exactly does a Farmland Checkup entail? The short answer is that if you’ve got farmland for rent, this checkup is a chance to learn about your soil quality and how your farmland stacks up against others in your local market.
For the long answer, read on.
What do you need to do to get your Farmland Checkup?
To start your Farmland Checkup, you’ll need to answer a few basic questions about your land. Then, you’ll get a call from a Tillable representative to make sure we have all the necessary information. We’ll ask about any issues you may be having with your farm.
During this call, we’ll also schedule a time to share the results of your checkup. Then we’ll get to work and do the research for you.
Get Your Free Farmland Checkup
Fill out your information below and a Tillable representative will personally complete your Free Farmland Checkup, including a rent evaluation, your farm’s productivity score, soil maps and more.
What does Tillable do to research your farmland?
We gather data, analyze it, and draw up an easy-to-digest report, so you don’t have to.
Your Farmland Checkup will include a comprehensive look at your land and provide context for its health and value within the local market. These are the components we’ll check out:
1. Soil Evaluation
When we look at your soil’s health, we’ll dig into your county’s average soil rating and the health of the soil on your farmland.
We calculate your soil ranking by looking at how your acreage fits into the local picture in terms of health and productivity. As part of this evaluation, we also look at soil maps of both fertilizer application and any pesticide applications.
2. Productivity Score
As part of your Tillable Farmland Checkup, your farm will receive a trend-adjusted productivity score based on the information we’ve gathered.
This score takes into account the land’s crop history (historic yields), which is also sometimes called the Actual Production History (APH). It’s one of the most meaningful measures of your farm’s performance.
Because we believe that everyone should have a complete and transparent view of the land’s productivity, we make our metrics and graphs easy to understand. Some states use different terms to describe farmland productivity, and we make sure we’re speaking the local language on your report.
If you don’t yet receive yield information from your farmer, you’re missing one of the most meaningful measures of your farm’s performance. Tillable requires that farmers report all of this information on an annual basis; we also allow farmers to see all reported information.
Transparency is a key part of fair market pricing, and making this data accessible to all parties should happen before any annual rent negotiation begins. If you lease your farmland to Tillable, you’re guaranteed to get this information to help you start building this record.
3. Rent Evaluation
Based on our soil evaluation, crop yields and local comparable properties, we will also provide you with a rent evaluation. Calculating cash rent can be complicated—there are so many ways to do it and a range of prices that might be considered reasonable.
Your Farmland Checkup will show you a rent evaluation, which will show you the average cash rent in your county, alongside what you could potentially receive through Tillable.
We’ll also deliver a graph that shows you what you may be losing out on over a five-year forecast of your land’s worth if you don’t rent it under its fair market value. It can be easy to justify discounting your land year to year, but when you start to look at the big picture, these changes may not make sense.
Delivery of your Farmland Checkup
We synthesize all of the above information and produce a report for you. This defines the terms and makes it easy to understand your land’s potential yield and fair cash rent value. We’ll call at the appointed time to talk you through it and make sure you understand exactly what you’re looking at.
We highlight important local dates, like the lease termination date in your state, and provide access to our state-by-state guide to lease termination deadlines. We also provide a review of best practices in farm rental management, including what data to collect and key terms to include in your lease.
With your Farmland Checkup in hand, whether or not you choose to rent your land through Tillable’s farmland rental platform, you’ll have the information you need to make better decisions about your farm and soil health.