Rent review needed to ease burden for tenant farmers

Farmers wishing to make an eleventh hour appeal to their landlords on rent prices need to act now before the Michaelmas deadline warns the NFU.

September 29 is the usual tenancy term date where landlords or tenants serve their rent review notice. With this in mind the NFU is encouraging farmers to take advice on their position, taking the sustained fall in some commodity prices and rising energy costs into consideration.

NFU tenants’ national spokesman Peter Crozier said: “Tenants are always striving hard to find additional profit, however the fact remains that the increase in input costs in recent times mean that, for many, the time for a rent review is right.

“Landlords need to realise their returns will have to drop if the tenants’ businesses are to remain viable.”

NFU deputy president Meurig Raymond said: “'Tenants occupy one third of farmed areas and they are a key part of the agricultural industry.

“With a fair rent the fabric and make-up of the rural economy can be maintained, but fair rents will mean for some landlords a reduction in income - a reflection of the continuing pressure on prices in some sectors.

“The NFU continues wherever possible to lift the value of domestically produced commodities for the benefit of our members which I hope will improve the industry for everyone.”