Earn Income From Hunters
Trees and waterways on the farm may seem like extra work but if there’s an abundance of wildlife in those places, make them work for you. Hunters will pay money for exclusive hunting rights. This helps protect your land from trespassers and arguments over who is allowed there and when.
Shawn Williamson is a CPA with the Fick, Eggemeyer, and Williamson firm in St. Louis, Missouri. He also leases out his own land to hunters and says you’ll have to do some legwork to figure out how much to charge per-acre.
"Craigslist would be one good place, ask around what other people are paying if you could find some other hunters, what they’re paying. And then, you go for a number and you see if anyone will pay it. If they won’t then set a lower number until someone does pay it," he says. "Normally in about a few weeks, you’ll have an idea of what the market is willing to bear on your property for hunting rent."
Lease the land to only as many people as you feel comfortable with. If you have too many, it’s hard to keep track of everyone.
Be sure you specify what the rules are while they’re on your land, and have each of them sign an indemnification agreement.
"That basically has them in black and white acknowledge that hunting is dangerous and that they’re accepting all responsibility for any kind of accidents while they’re out there hunting," says Williamson. "Firearm-related, falling out of trees or stepping in a hole, whatever might come."
Williamson says for the best protection, it’s also a good idea for the landowner to have liability insurance.