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Farm Business
Tenant Farming, Subsidies, BPS & Legal Issues
AHA Rents, DFRA “Farming is Changing” and "No Deal" Brexit
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<blockquote data-quote="Austin7" data-source="post: 6529011" data-attributes="member: 42100"><p>“Are you expecting landlords to roll over and give these sorts of reduction now?”</p><p></p><p>Answer Yes</p><p></p><p>I don’t know about yourself but we keep a friendly contact with our landlord even when we are at odds. In our discussions with them about the current farming situation and rents, their view is that even with a Brexit agreed with the EU “the likely outcome will be downward pressure.”</p><p></p><p>You can be absolutely sure that sitting on every landlord’s desk is a report from their Agents telling them that rents are going to fall. No Agent in the current circumstances would fail to post his excuse sheet. A few years ago I received a box of old files concerning our farm amongst them I found a report written by the then Agent to Landlord in 2002 predicting that we would serve a notice to Review and that the then current rent was not defensible, they were right we did a year later serve a notice and the rent was cut by more than 20%. Lesson is they were expecting it then as they are again now.</p><p></p><p></p><p>However no doubt your landlord will get over the shock of not getting a Notice to Review from yourself, which leaves us with the protection of your inflation theory. Inflation is certainly impacting on us, Anglia Farmers Ag inflation index shows a 7.5 % rise in our costs in the last 12 months. Should we be inflicted with a no deal Brexit then expect devaluation of the currency and import tariffs both will add to cost inflation. On the Income side, we lose our area payments and have to compete against imports arriving in our markets tariff free. I can see no inflation of income only deflation. I hope you are right but I fear you are not.</p></blockquote><p></p>
[QUOTE="Austin7, post: 6529011, member: 42100"] “Are you expecting landlords to roll over and give these sorts of reduction now?” Answer Yes I don’t know about yourself but we keep a friendly contact with our landlord even when we are at odds. In our discussions with them about the current farming situation and rents, their view is that even with a Brexit agreed with the EU “the likely outcome will be downward pressure.” You can be absolutely sure that sitting on every landlord’s desk is a report from their Agents telling them that rents are going to fall. No Agent in the current circumstances would fail to post his excuse sheet. A few years ago I received a box of old files concerning our farm amongst them I found a report written by the then Agent to Landlord in 2002 predicting that we would serve a notice to Review and that the then current rent was not defensible, they were right we did a year later serve a notice and the rent was cut by more than 20%. Lesson is they were expecting it then as they are again now. However no doubt your landlord will get over the shock of not getting a Notice to Review from yourself, which leaves us with the protection of your inflation theory. Inflation is certainly impacting on us, Anglia Farmers Ag inflation index shows a 7.5 % rise in our costs in the last 12 months. Should we be inflicted with a no deal Brexit then expect devaluation of the currency and import tariffs both will add to cost inflation. On the Income side, we lose our area payments and have to compete against imports arriving in our markets tariff free. I can see no inflation of income only deflation. I hope you are right but I fear you are not. [/QUOTE]
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Farm Business
Tenant Farming, Subsidies, BPS & Legal Issues
AHA Rents, DFRA “Farming is Changing” and "No Deal" Brexit
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