For people looking to have exclusive use of property without the firm commitment of purchase, land leases can be an attractive alternative to buying. Whether using the land for recreation, hunting or other purposes, leasing land can be relatively affordable, especially when compared with the costs of purchasing property.
While most land lease arrangements run for many, many years, some owners of property may be willing to negotiate about the length of a lease term, providing those interested in using the property with the maximum amount of flexibility possible. Land lease arrangements allow individuals or corporations the right to use the land in whatever fashion the parties agree to, without actually transferring ownership of the land. The individual or corporate tenant pays a yearly fee to the landowner in exchange for the use of the property. Leasing hunting land can be popular for hunters seeking solitude and quiet without wanting to commit to purchasing such a property. Whether you are interested in deer, fowl or small game, you are sure to find the ideal spot in the Minnesota and Wisconsin areas. Many hunting land properties feature additional amenities such as lodging, fish ponds and other recreational pastimes. Some property owners may even be willing to further negotiate lease extensions, or even sales of the hunting land, should you be so inclined after leasing the property for a time period. Please note though that if you are thinking of leasing out your own hunting land, make sure to utilize a contract containing a release of liability clause, in case a hunter gets hurt on your property. Liability insurance is always a good idea under such circumstances. Your local attorney can best advise you about the details and intricacies of your particular situation.
Owners of farm land may also be interested in entering into lease relationships in order to provide for the management and utilization of their farmland. Landowners and tenants can negotiate lease terms for the purpose of cultivating crops, raising livestock or development of wind or solar energy producing facilities on farmland. Owners of the farmland are able to profit from the land without being responsible for the day-to-day management of the property. As in the hunting context, it is important to have a clear lease agreement detailing the expectations of the parties in regard to the land's usage, conservation measures, environmental impact, costs or improvements of repairs to the property, division of profits, etc. Having such an agreement may help to prevent future disputes between the land owner and the tenant. At minimum, such an agreement will help to resolve any complications that arise when farmland has been leased out to a person or individual. Similar to leasing hunting land, many farm lands available for lease feature farmhouses or other lodging accommodations available for use by the individual or corporation leasing the property. In some situations, leases even provide the possibility that tenants can purchase or construct building on the land, retaining their financial interest in the construction.
Leasing recreational lands can also be a good option for individuals or families looking to experience something different without committing to a life-long change. Many vacation homes and recreational properties may be available for short and long term lease arrangements in Minnesota and Wisconsin. Leasing such property allows for maximum privacy and solitude. Lessees can utilize the property without interference from others, in seclusion and peace. Lease arrangements often allow for long term use of the property, ideal for the family looking to experience a new location for several months, or even a year. Vacation properties in Minnesota and Wisconsin typically offer a wide array of comfortable amenities, set amidst the scenic backdrop of Northwoods forests, lakes and streams. Should you choose to enter into a lease arrangement for recreational property, be sure to have a contract drawn up by a trusted attorney to ensure that the rights and responsibilities of both parties are clearly defined. Having such an agreement may help to prevent or remedy any disputes occurring between the landlord and tenant. Individuals or families leasing vacation property should be sure that they have an attorney review contracts before signing.
With its flexibility and reasonable costs, leasing land can indeed be an attractive alternative to buying property. Individual, families or corporations gain the right to use the land, buffering themselves against the risk of falling property values. Owners of land can make productive use of their property, generating income without having the day-to-day responsibility of managing the land. Overall, it can be a win/win situation for everyone involved. Before entering into a land lease arrangement, be sure to carefully weigh the pros and cons with plenty of advice from experts and professionals. They will be able to help guide you through the land leasing process, evaluating the situation objectively, with knowledge of your particular circumstances.