The Mid North Coast has vast quantities of unused agricultural land, yet many young would-be farmers are leaving agriculture, or the region, because they don’t have the funds to buy their own farms.
Affordable Farming is a new project by RDA to help connect the landowners of unused agricultural land with willing farmers, via a sharefarming or leasing agreement. Both options provide an investment income to the landowner and an agribusiness opportunity to the farmer. They can also be a great avenue for succession planning.
Sharefarming is a system where farmers make use of agricultural assets they don’t own in return for a percentage of the profits.
Leasing occurs when a tenant farmer pays the landowner an agreed amount to run their business on that property and retain all profits.
The Affordable Farming project involves creating an online platform to connect land owners and agribusiness professionals who are interested in these opportunities. People will soon be able to register their interest through a website, or by contacting the RDA office, and receive a list of farms and farmers who are willing to connect.
We are also working with NSW Farmers and the NSW Business Chamber on the legal aspect, so farmers and landowners who are members of these organisations can access business support and legal advice to help them understand the process.
- Successful farm leasing in Australia – RIRDC May 2011
- Leasing land: calculating a rental – NSW DPI Jan 2007
- Leasing and share farming land – GRDC Feb 2014
- To lease or not to lease – BDO
- (USA) Landowners guide to leasing to a farmer handbook – Land for Good 2012