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 Land Owners / Lease Rental FAQs

How much do you charge for rental auction service?
We charge a commission of 4% on the total rent. For example, rent is $10,000 per year, 3 year term. Total rent is $30,000, and we charge $30,000 x 4%.
What does your commission cover?
Our commission covers everything work we do, from auction listing to auction close, from drafting the lease to signing of the lease contract.
When do I pay for your commission?
You pay us whenever you get paid by the tenant. For each rent payment you get, you have 1 month time to pay us 4% of that rent payment.
Do I have to pay you if my land is not rented to any of your bidders?
No fee to pay to us. There is a fee to pay to us only when there is a lease agreement signed with one of our bidders during the auction or with any one that contracted us during the auction period.
Do I have to rent my land for whatever the final bid is, no matter how low it is?
No. We put a reserve price for your auction. If the reserve price is not met, you do not have to rent your land to any bidder.
Do I have to rent my land to the highest bidder?
No, You do not have to. Every of our auctions has this auction term: winning bidder will not necessarily be selected as the tenant, the auction result is subject to landowner’s review & approval of winning bidder’s Renter Profile.
What is the Bidder Selection Process after the auction closes?
After the auction closes, we are in the Bidder Selection Process during which we collect the renter profile of the highest bidder and 2nd highest bidder by either pulling from our database or calling a few local farmers or the references we have.
If the reserve price is not met, can I still rent out my land to the highest bidder?
Yes, if that happens, you have an option to any bidders through us.
If the auction fails, Do I have to pay any fee?
No fee to pay to us, as long as no lease agreement is signed with any of our bider.
What happens If my auction fails?
You have the options to: (1) negotiate with any bidders through us; (2) relist your land (3) take it off the market.
Do you collect rent from the tenant and remit to me?
No, the tenant pays you directly.
Do you do farmland management?
Yes, we do. To our Farmland management FAQs.