Hi.
I have 6.5 acres of land that I'm keen to rent out to tenants in the short term. What are the things I should know?
The land consists of the following:
1.8ac - paddock with stables
3.1ac - grazing land
1ac - grazing land (with large pond)
Due our current financial situation, I'm thinking it's best that I set up a small limited company that all income is made payable to. Longer term, I'd like to rent out the paddocks to a horse owner, establish a woodland on some of the grazing land (aided by the woodland trust), and on the field with the pond to grow an orchard.
Short term however, I need to get the fields in order. Mow the grass, trim back hedges etc. Ideally I'd like to rent the land out to a farmer but I don't know the going rates and/or whether they would suggest it's quid pro quo as they are doing me a favour in keeping the grass down etc.
I know I don't need a CPH as that is the responsibility of the animal owner. As a landowner, aside from ensuring there is access to electricity (the stables has solar power) and water, it seems like most of the onus is on the tenant to maintain upkeep.
As a landowner is there anything else I should be thinking about? Are there schemes/grants I should be signing up?