Why a written lease?
63% of farmland rentals in Ontario are based on nothing more than a handshake. Some might say that creating a written lease will take time and money, or give the impression of mutual distrust. But in reality, the opposite is true.
They say that good fences make good neighbours and having a written lease can actually strengthen the relationship between a farmer and a landlord. The discussion that goes into writing the lease helps landowners and renters come to a mutual understanding, instead of basing the agreement on assumptions. If an issue ever did arise, a written agreement can protect both parties and will make it easier and more cost-effective to settle any dispute or misunderstanding.
As a landlord, you probably don’t want the hassle of finding a new renter every few years and, in the same way, farmers also want long term security in order that they can build up soil health and yields. Having a written lease that creates long-term security is a win-win, and not only for you and your renter, but for the environment as well.