Renting out silos to keep grain is a smart move for a farmer since the commercial systems cannot store the entire produce. As a farmer, you will be able to get good prices when selling the produce later on as prices tend to be lowest during harvest. However, if you do not have the means to store them, you will have to consider silo rentals.
You should first consider the size of storage you require. This mostly is determined by the amount of produce you have. If you have many bags, consider renting bigger bins. However, if the amount is smaller, a smaller bin will do. Keep in mind that the bigger sizes are quite costly when compared to smaller ones hence you should make the correct choice so that you do not end up paying extra for space not needed.
The location of the silos will have to be decided on from where your farm is to where the bins are for leasing. It needs to be at an area where you can easily reach it from time to time. In addition, grain trucks ought to be able to reach the stores so that the produce can be loaded and unloaded. Search for neighbors who lease their bins or the ones that are readily available.
Think about how you will get the workforce. During storage, there are a number of events that need to be realized to ensure that quality is maintained. Some of the owners can provide you with the workforce while others may not. In such a case, you may have to come up with your own team. However, before making a decision, confirm whether your own workforce is cheaper or the one you are being offered.
The length of storage mostly would want extra space from harvest up to a time when you think it will be suitable to sell the grain. It is imperative you conclude on the length of time you require the silos so as to notify the owner and to calculate for charges you are required to pay. Decide whether you require it on a temporary or permanent basis.
Ask the owner about the renting options. Many of them require to be paid on a monthly or yearly basis. The fixed rates per year are the annual rates for the right for usage of these bins. For the monthly rates, you will be charged for the number of months the silos were used. Opt for monthly rates as it is a cheaper option and you may most likely not need it for a whole year.
Discuss with the owner about the payment schedule. The both of you should come up with a renting agreement that will protect you. It should be specified whether a minimum charge should be paid at the start of the leasing period with the remainder paid when grain is removed. Or, it needs to state whether the entire amount needs to be realized before the bin is used.
Another important aspect you need to discuss with the owner is electricity cost. Most of the renters will demand you pay for these charges. It is therefore important you request for a separate meter for the storage bin to allow you to know the actual cost. This prevents you from paying for electricity you did not use.
You should first consider the size of storage you require. This mostly is determined by the amount of produce you have. If you have many bags, consider renting bigger bins. However, if the amount is smaller, a smaller bin will do. Keep in mind that the bigger sizes are quite costly when compared to smaller ones hence you should make the correct choice so that you do not end up paying extra for space not needed.
The location of the silos will have to be decided on from where your farm is to where the bins are for leasing. It needs to be at an area where you can easily reach it from time to time. In addition, grain trucks ought to be able to reach the stores so that the produce can be loaded and unloaded. Search for neighbors who lease their bins or the ones that are readily available.
Think about how you will get the workforce. During storage, there are a number of events that need to be realized to ensure that quality is maintained. Some of the owners can provide you with the workforce while others may not. In such a case, you may have to come up with your own team. However, before making a decision, confirm whether your own workforce is cheaper or the one you are being offered.
The length of storage mostly would want extra space from harvest up to a time when you think it will be suitable to sell the grain. It is imperative you conclude on the length of time you require the silos so as to notify the owner and to calculate for charges you are required to pay. Decide whether you require it on a temporary or permanent basis.
Ask the owner about the renting options. Many of them require to be paid on a monthly or yearly basis. The fixed rates per year are the annual rates for the right for usage of these bins. For the monthly rates, you will be charged for the number of months the silos were used. Opt for monthly rates as it is a cheaper option and you may most likely not need it for a whole year.
Discuss with the owner about the payment schedule. The both of you should come up with a renting agreement that will protect you. It should be specified whether a minimum charge should be paid at the start of the leasing period with the remainder paid when grain is removed. Or, it needs to state whether the entire amount needs to be realized before the bin is used.
Another important aspect you need to discuss with the owner is electricity cost. Most of the renters will demand you pay for these charges. It is therefore important you request for a separate meter for the storage bin to allow you to know the actual cost. This prevents you from paying for electricity you did not use.
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