What does a farm manager do?

A professional farm manager oversees the day-to-day and long-term decisions involved in operating a farm on behalf of the owner, so the owner does not have to. This typically includes selecting and supervising the tenant or operator, negotiating and enforcing lease terms, overseeing crop input decisions and marketing, coordinating with FSA and other government programs, maintaining accounting and tax records, arranging capital improvements such as tiling or building repair, and providing the owner with regular reports on farm performance. An Accredited Farm Manager (AFM) has met education, experience, and ethics requirements set by the American Society of Farm Managers and Rural Appraisers. For an absentee or inheriting owner, a farm manager acts as the on-the-ground eyes, ears, and advocate for the property, protecting its value and income while the owner retains ownership and decision-making authority. Hiatt Farmland Services provides this service across Illinois and Indiana.

How much does farm management cost in Illinois?

Farm management fees in Illinois are most commonly structured as either a percentage of gross farm income or a flat fee per acre, with the exact rate depending on the farm's size, crop mix, lease complexity, and the scope of services provided, from basic oversight to full-service management with accounting, marketing, and capital project supervision. Larger, simpler farms with a stable cash rent lease and a cooperative tenant generally cost less per acre to manage than smaller or more complex farms, including those transitioning to a new operator or working through an estate settlement. Most reputable Illinois firms provide a written fee proposal after an initial farm review, so an owner can weigh the fee against the value of the services and the time it would otherwise take to manage the farm directly.

What's the difference between cash rent, crop share, and flex leases?

Cash rent is the most common lease type in Illinois. The tenant pays the landowner a fixed amount per acre each year, regardless of yield or commodity prices, which gives the owner predictable income and shifts production and price risk to the tenant. Crop share divides the harvested crop, or its sale proceeds, and often certain input costs between landowner and tenant according to an agreed percentage split, so the owner shares in both the upside of a strong year and the downside of a poor one. A flex lease sets a base cash rent that adjusts up or down, within agreed limits, based on actual yield, commodity price, or both, once the season's results are known. Each structure trades predictability for shared risk and reward differently, and the right choice depends on the owner's risk tolerance and desired involvement.

I inherited farmland and live out of state — what are my options?

Owners who inherit Illinois farmland from out of state generally choose among four paths: keep the farm and hire a professional farm manager to handle the lease, tenant relationship, and reporting locally; keep the farm and manage it yourself remotely, which is workable but time-intensive without local relationships; sell the farm, whether to the existing tenant, a neighboring landowner, or on the open market; or hold the farm short-term while a manager evaluates the lease, operator, and property condition before you decide. Before doing anything, it is worth confirming the current lease terms, verifying that FSA base acres and program elections transferred properly, and getting a current valuation. None of these decisions need to happen immediately, but an unmanaged or unreviewed inherited farm can quietly lose income or value. Hiatt manages inherited and out-of-state-owned farms throughout Illinois and Indiana.

What happens if my siblings and I can't agree on what to do with the family farm?

Disagreements among heirs over whether to keep, rent, or sell a family farm are common, and there are several paths short of litigation. A neutral, professional farm manager can operate the property on behalf of all owners, separating day-to-day decisions from family disagreements and providing shared reporting so everyone sees the same information. Some families set up an LLC or trust to formalize ownership shares and decision-making rules going forward. Mediation can help resolve a genuine impasse over a sale or other major decision. If co-owners truly cannot agree and no resolution is reached, any owner of property held as tenants in common has the legal right to file a partition action in court, which can force a sale, though this is typically treated as a last resort given its cost and effect on family relationships.

How is Illinois farmland value determined?

Illinois farmland value reflects several factors working together: soil productivity index, drainage and tile condition, field size and shape, road access, current lease income and lease type, nearby recent sale prices, and the broader supply and demand for farmland in the county. Commodity prices, interest rates, and the availability of 1031 exchange buyers also move values over time. Because these factors vary significantly even within the same township, a reliable valuation typically requires comparison to recent, truly comparable sales rather than a countywide average per-acre figure. The Illinois Land Values & Lease Trends Report, published annually by the Illinois Society of Professional Farm Managers and Rural Appraisers and available on our Resources page, tracks these patterns by region. An Accredited Rural Appraiser or experienced farm manager can walk a specific property and identify which factors are helping or hurting its value relative to its neighbors.

Should I sell farmland at auction or by private listing?

Auction and private listing both work well in Illinois; the better fit depends on the property and the owner's goals. Auction creates a firm sale date, competitive bidding among motivated buyers, and a transparent process, which tends to work well for well-located, easily divided tracts in an active market. Private listing allows more flexibility on timing and terms, more privacy, and room to negotiate with a specific buyer, such as a neighboring landowner or the existing tenant, which can suit unique properties or sellers who are not in a hurry. Both methods benefit from professional marketing, an accurate valuation going in, and a broker who knows the local buyer pool. An experienced farm real estate broker can recommend the better method after reviewing the specific property and the owner's timeline.

What should I know before signing a solar or wind lease?

Solar and wind leases run far longer than a typical farm lease, often decades once options and renewal terms are included, so terms that seem minor at signing can matter greatly ten or twenty years later. Before signing, an owner should understand the total lease length including all option and renewal periods, the payment structure and how it escalates over time, whether the agreement is an easement or a lease and how that affects title, decommissioning and land restoration obligations and whether they are backed by a bond, restrictions placed on the rest of the property, tax and FSA program consequences, and any confidentiality or exclusivity clauses that limit the owner's ability to negotiate elsewhere. These agreements should be reviewed by an attorney experienced specifically in renewable energy leases before anything is signed.

How do I know if my cash rent is at market rate?

Market cash rent varies by county, soil productivity, and lease terms, so the most reliable check is a comparison against recent, comparable leases in the immediate area rather than a statewide average. The Illinois Society of Professional Farm Managers and Rural Appraisers publishes annual and mid-year survey data on average cash rents by region, including its Illinois Land Values & Lease Trends Report, which we make available on our Resources page as a useful starting benchmark. A farm manager familiar with the local rental market can also tell you where a specific farm's rent sits relative to comparable ground nearby, and whether any gap reflects the farm's actual productivity and condition or simply a lease that has not been revisited in some time.

Do you manage farms outside Illinois?

Yes. Hiatt Farmland Services manages farmland in both Illinois and Indiana. Our team works from three Illinois offices, in Champaign, Pontiac, and Danville, and provides the same on-the-ground oversight, lease negotiation, accounting, and reporting services to landowners with farms across the Illinois-Indiana border. If you own farmland in either state, including property you inherited or that sits outside your local market, we can evaluate the farm and outline how our management services would apply to your specific situation.