Agritourism is on the rise. It’s no secret that people will pay big money for a weekend farm experience. Farm weddings also are a huge trend these days. Engaged couples will pay a premium to say their “I dos” in a rustic barn or rural setting.
Many farmers are doing an impressive side business catering to those who wish to “rent” their farm to check something off their bucket list or make a dream event come to life. And savvy farmers are coming up with new ideas every day to give people what they want while growing some income alongside their crops.
Another trend today that is proving to be a big money maker is leasing out farmland to hunters. This trend works especially well for farmers who have lots of trees or creeks on their land. Rather than see these things as a nuisance, farmers are using them as a way to attract hunters.
If your farmland contains trees, streams and an abundance of wildlife, then you may be sitting on a significant source of income to help supplement your farming income. Sound too good to be true? It is easier than you might think if you take the following steps:
- Do your research. Ask hunters or do some online searches to see how much people with comparable land charge hunters to rent their land. Then set your price.
- Don’t go it alone. There are hunting-land lease companies that specialize in matching hunters to land. They will take a cut of your profits but if you don’t want to deal with marketing your land, drafting contracts or obtaining insurance, these companies could be worth partnering with.
- Make your terms clear. Let hunters know what they can and can’t do on your land. Don’t neglect to address things like how long they can hunt, how many people can hunt at one time and what they can hunt. You also should let them know if ATVs can be driven on your land or if camping is allowed.
- Post signs. Let all hunters know that if they don’t have a signed lease with you, they are not allowed to be anywhere on your land.
- Protect yourself. Liability insurance that covers anyone who hunts on your land is an absolute must. Don’t even think about renting your land out without being fully insured. It also is important to put an indemnity clause in your lease. This clause is an extra layer of protection. It basically states that if a hunter gets hurt because of something they did, they won’t sue you.
