Tenant farmers have been encouraged to consider triggering farm rent reviews this year amid political uncertainty and the effects of extreme weather.
Traditionally, the bulk of farm rent reviews fall at the end of March to the beginning of April and again at the end of September to the beginning of October.
With most rent reviews requiring either the landlord or the tenant to serve notice 12 months in advance, tenants with spring rent reviews have been urged to act now.
The new National Chairman of the Tenant Farmers Association, Mark Coulman is encouraging farmers to consider commencing rent reviews.
The body has already called for landlords to waive or abate rents paid by tenants in view of the weather experienced over the past few months.
“The lack of winter and spring crops in the ground is of major concern," Mr Coulman said at Tuesday's (10 March) TFA AGM in London.
He said many farmers having had a relatively good harvest in 2019 are looking at losses in the year ahead.
"That is why the TFA has called upon landlords to consider offering rent abatements to affected tenants," he said.
"It is only right that landlords should share the financial burden in the year ahead, rather than expecting to be in receipt of the same level of rent as they had been used to in more normal conditions”.
The TFA are also urging tenant farmers to seek formal rent reviews given the prevailing economic conditions and the future direction of travel for government policy.
"This will see a ramping down of direct payments whilst new environmental schemes are launched,” said Mr Coulman.
"With margins already under pressure and the major uncertainty in our trading, policy and wider economic environments, it is essential that tenants act to get rents down."
This includes making sure that tender rents on new farm business tenancies are set at more sensible levels than seen in the past, the TFA said.
