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This article aims to explore recent trends in farmland rental markets using data for the state of Illinois. Trends in the types of rental agreements used and the relationship between the rental rate for those contracts, land values, crop revenues, production costs, and farm returns are examined.

Data from various sources and at different levels of aggregation for the state of Illinois are used to provide illustrations of historical trends in farmland rental agreements and rental rates, and how they are related to various market and industry factors. Focus is placed on the more recent period since 2005 characterized by high commodity price levels and volatility.

The majority of farmland in the Midwest is controlled under rental agreements which are increasingly of the fixed cash rent type. Rental rates have increased, but at a slower rate than farm returns. Average rental and interest rates imply that land values are consistent with the current market environment. Aggregate rental rates mask considerable variation in farm‐level rents, only a portion of which can be explained by differences in soil productivity. Given the current level of price volatility, the tenure position of a farm operation has a significant effect on downside risk exposure.

The illustrations provided in this paper should be of interest to researchers working in the area of farmland values and rental agreements, as well as to practitioners including farmers, landowners, and professional farm managers. The findings should motivate additional research and recognition of the importance of tenure position to the performance and risk exposure of grain farms.

Reviews recent New Zealand legal cases involving CBD office building leasing incentives, the efficacy of confidentiality agreements and current practical valuation problems arising when analysing office rentals. Takes a controversial stand in postulating that customary methods of decapitalizing incentives in use by the valuation profession lead to errors in calculating effective rentals. Suggests a new break‐even method to analyse lease incentives. Presents a “user‐friendly” step‐by‐step spread‐sheet goal‐seeking model to undertake the complex calculations required. The model shows graphically the explicit rental forecasts required and the resulting effective analysis alongside the results of applying customary methods. Aims to bring some balance to this area of current valuation controversy and to provide a powerful new tool to analyse accurately incentive‐induced office, retail or industrial rentals.

This paper aims to describe the outcome of a research program carried out by the Austrian IIBW to support the Romanian Government in redesigning its national housing law in order to cope with specific problems on the Romanian housing market, such as the absence of tenure choice and affordable and tenure‐secure rental housing.

Specific housing problems and requirements of legal changes were identified by policy makers and in previous studies. Solutions are provided by an international team of experts with the target to include European best practice concerning rental and limited‐profit rental law.

This paper concentrates on three major topics within the restructuring of the Romanian housing law that permit integrating European best practice in the field of housing policy. First, Romanian rental housing legislation is reconsidered and a market‐based relative price control based on the German experience and on written contracts is proposed. Second, a new public‐private‐partnership (PPP) housing law, building on the framework of PPP social housing providers in Europe, and especially Austria, is considered. A rigid frame of checks and balances and public compensation of social service obligations are core elements. Third, special attention is paid to the compliance of proposed measures with European Union legislation on competition, which is of major importance for any legal recommendations to be applicable.

The proposed legal changes are designed to foster the development of a functional long‐term private and social rental market in order to meet the housing needs of the Romanian population.

The overarching research program this paper builds on was commissioned by the Romanian Government and was intended to address specific and current problems on the Romanian housing market.

Companies in the B2B service sector often sign a series of successive contracts instead of one long contract with their vendors. Economic researchers have shown how the lengths of stand-alone contracts are influenced by economic factors such as asset specificity and economic volatility, but have not researched into contracts that are part of a continuous series. The purpose of this study was to explore if being a part of a series of contracts influences the length of the focal contract and the rental rate.

The authors use data collected from the oil drilling industry to empirically test their hypotheses. The data set consists of 2,621 contracts involving jack-up rig hiring in the Gulf of Mexico region.

The authors empirically show that the series duration affects both the length and rental rate of each constituent contract, even after considering all other plausible economic factors. Specifically, the duration of a series has a positive effect on the length and a negative effect on the rental rate of the constituent contract.

Although contract length is as vital as the rent in B2B service transactions, it is rather unfortunate that marketing scholars have not researched much into this topic. The findings offer a new insight into the forces that shape the B2B service contracts and thus help the B2B managers make a better decision in service contracts.

The purpose of this paper is to investigate the impacts of social capital on the rate at which agricultural land is rented between landowners and tenants using data from the state of Kansas.

A survey of tenants provides data on the rental rate of farmland as well as characteristics of the lease, the land, and the landowner.

Results support the hypothesis of a negative impact on rental rates from longer-term leasing relationships. The model estimates a 10.0 percent discount relative to market rates when the leasing relationship increases from 11 to 22 years. At the sample average of $64 per acre, this is a $10 per acre discount.

Increased levels of social capital, as measured by the length of the leasing relationship between landowner and tenant, reduce the rental rate. A 10 percent increase in the number of years a parcel of land is leased to the same tenant will decrease the annual rental rate by 1 percent.

Research adds to the understanding of informal relationships underlying farmland leases. A large number of farmland tracts may turnover in the coming years. This turnover may affect the rental rates for tenants who have had long-term leasing relationships over time.

This paper has two aims: to consider the negotiating strength of landlords and tenants in lease negotiations; and to calculate the level of deposit which is necessary to mitigate income risk.

The paper reviews the existing literature on the negotiation strength between landlords and tenants in different stages of the property cycle; investigates the well established deposit system in South Korea for lessons that might be applied in the UK; estimates the appropriate level of deposit using simulation methodology, given different states of the market; and places the contractual arrangement in a legal framework.

Evidence from the Seoul office market suggests that deposits can be very effective in protecting income return. In the UK during the down phase of the cycle, when supply of space exceeds demand and business conditions are uncertain, tenants are unwilling to pay deposits and landlords are more inclined to offer incentives in a bid to get the property let, even though the down phase is exactly the time when a deposit system is needed most. Landlords should be looking through the cycle and insisting that deposits are paid at the height of the market when their bargaining strength is stronger. The deposit should be sufficient to cover the probability of income loss in the down phase of the cycle. Based on market evidence in 2009, the amount of the deposit should be equal to at least 15 months rent.

The stability of the income return is one of the key features of real estate both as an investment and as security. The use of rental deposits is a practical and straightforward way of hedging the risk. The paper estimates the amount of deposit required and provides guidance on the key heads of terms, which should be included in a deposit agreement.

The estimation of rental deposits has very little coverage in the literature. At a time when income return is under pressure landlords need to be fully aware of the benefits of the deposit system and the key factors that need to be considered when estimating the amount of deposit necessary to offset tenant default risk.

This paper seeks to use data from China between 1929 and 1933 and provides new empirical evidence to the debate over the impact of land ownership and land‐renting systems on agricultural productivity.

The authors estimate the OLS regression to determine the relationship between land ownership (and land‐renting systems) and farmers' productivity.

The findings suggest that land ownership was not a major factor in determining farmers' productivity; instead, agricultural infrastructures and institutions had the greatest influence on agricultural productivity. Furthermore, different renting systems generated different impacts on farmers' behavior: sharecropping reduced farmers' productivity while fixed rental contracts had no significant impact on farmers' productivity.

This paper has two important policy implications for developing countries. First, agricultural policy that aims to raise agricultural productivity should focus more on improving agricultural infrastructures and institutions than on blindly supporting land privatization. Second, policymakers should promote fixed rental contracts over share contracts because fixed rental contracts were shown to have a smaller adverse impact on farmers' incentives.

This paper uses data from China and provides new evidence on the relative importance of land ownership and agricultural infrastructures/institutions in agricultural production. China is a country with a long agricultural history and a long‐standing well‐developed tenancy system. The case of China may therefore provide answers to policymakers in other developing countries.

Blockchain, which was originally created to enable peer-to-peer digital payment systems (bitcoin), is considered to have several benefits for different sectors, such as the real estate one. In a standard European-wide real estate transaction, several intermediaries are involved. As a consequence, these agreements are usually time-consuming and involve extra difficulties to cross-border operations. As blockchain, combined with smart contracts, may have an important role in these transactions, this paper aims to explore its prospective challenges, limitations and opportunities in the real estate sector and discover how the traditional intermediaries have to face a possible implementation of this technology.

This paper analyses the current intermediaries in the real estate sector in European Union (EU), their functions and how can blockchain strengthen the security of these transactions while reducing their time. The author uses a legal methodology to approach it.

Blockchain, combined with smart contracts, has both challenges and opportunities for the real estate sector. On the one hand, it may improve procedures, allow EU transactions and the interconnection between public administration. However, to not reduce parties rights, this blockchain should have some special features, such as the possibility of being amended.

This paper provides a valuable overview of all the intermediaries that could be affected by blockchain protocols. It is of interest of blockchain developers, public administrations and researchers who are working on blockchain and property conveyancing.

Alec Snobel finds that the economic recession and cash flow problems have forced companies to look at their transport costs … and brought a boom in leasing.

Motor manufacturers have begun to change their way of thinking within their dealership networks; the new development of the provision of associated services by the manufacturers themselves is described within the framework of value‐added strategies for the marketing function. Services in the automotive industry are listed and their costs and benefits analysed. The implications of a value‐added strategy are discussed.