Finding a farm or land to rent can be challenging enough, but once you have found a property there are all sorts of considerations to take into account to ensure that your application for the tenancy is well received. Rural Surveyor Chris Powell outlines some of the most common matters to address.
- Intended use. Is your intended use going to match the aims and objectives of the landlord, and is it actually going to suit the holding. For example, there is no point tendering for a dairy farm if your intention is to turn it over to arable.
- Rent. Not all decisions are made solely on the rents. Some landlords focus purely on the financial income, but the majority take a holistic approach to their decision making. However, you still need to be competitive. We are slowly moving away from the ‘per acre’ rental model, where a figure is set across the whole holding. You need to break it down into elements - what rental you would pay for the land, the buildings and the residential element, then combine them to give you your annual rent.
- Experience. This obviously can become a chicken and egg scenario - you are applying for your first holding yet you don’t have the track record a landlord might wish to see to assure him that your business proposal is viable. If the landlord is taking the risk of giving a long-term tenancy, they are likely to look for assurance that the individual has the experience and knowledge necessary to establish a successful business.
- Presentation. A wide range of help, software and resources are available to ensure that a tender applications are error-free. It may be a harsh way of thinking, but if there are errors or omissions are overlooked within an application, a landlord may be concerned that an applicant might overlook a leaking water pipe or other repairs to the property during the tenancy.
- A sound business plan is essential to demonstrate you are willing to put the time and effort in to prepare your tender, and you are submitting a serious proposal.
Symonds & Sampson have significant experience in acting for both Landlords and Tenants with both Farm Business Tenancies and Agricultural Holding Act tenancies, find out more here or contact Chris Powell at our Devizes office on 01380 710 535 or a member of our rural professional team at your nearest office.