Understanding which resource is the best for you to lease as a property owner comes down to a couple of qualifications: viewing the developed site, timeline of the lease, how much property you own, what type of property you own, and proximity to electrical infrastructure.
The team at LandGate has created a fun 5-question quiz to help you determine which type of leased resource best fits you and your property. Each question has 4 possible answers, so keep track of your answers to identify the best resource for you.
Do you live on your property or do you ever plan to live on the property?
A. Yes, I currently live on the property
B. I don’t live on the property but my farm animals do
C. No, and I don’t plan on living on the property ever
D. No, but I plan to within the next decade
What view do you have when you look at the property?
A. Water features like a pond, river, or lake
B. Wide open pasture
C. Hilly
D. Forested
Do you plan on keeping this property in the family?
A. Yes, but it will not be occupied by my family
B. No, I plan on selling the property during my lifetime
C. No, my family will sell the property after my lifetime
D. Yes, my family will occupy the land
How large is your property?
A. Smaller than 10 acres
B. Between 10 and 50 acres
C. Between 50 and 150 acres
D. Larger than 150 acres
Do you currently lease your property?
A. No
B. Yes, for agricultural purposes
C. Yes, for ranching purposes
D. No, I just sell my timber
Let’s Talk Results!
Majority of A answers:
Your property could be a good option for battery storage development. On smaller properties, battery storage facilities can thrive as they don’t take up a lot of space and can be hidden by shrubbery. The qualifications developers look for, for a battery storage site is proximity to electrical infrastructure like transmission lines, substations, or solar/wind farms.
Majority of B answers:
Your property could be a good option for solar farm development. Solar projects can range in size depending on their functionality (40+ acres for commercial solar or 5+ acres for community solar), but solar is a great option if you also plan to keep animals on the property or if you want to continue farming operations. Agrivoltaics has become a hot topic among landowners looking to combine solar energy with agricultural needs.
These solar leases can last between 25 to 50 depending on the size and goal of the project. However, property owners who enter one of these leases can sell their lease payments for a lump sum upfront so they can get paid out immediately and not worry about inflation.
Majority of C answers:
Depending on whether you live on your property or not, your property could be great for wind development! The great thing about wind turbines is that they don’t take up much space on the property. So if you have hilly terrain or animals present on the property, you can still qualify for a wind lease if your property is large enough or if you are already near a wind farm.
Wind developers like to choose large tracts of land since that’s the best way to get energy generated from the turbines and make it easier to build on if it is all owned by the same owner. These leases last between 30 to 50 years depending on the lease contract details and the property owner can also sell these lease payments for a lump sum upfront as well.
Majority of D answers:
If you have a large, forested property you could be eligible for a carbon credit lease. There are many different carbon credit programs available depending on what your property is like. If you have a large property that could be reforested there is a carbon program to support that! These leases depending on the program can range from 5 to 100 years.
Get a Free Property Report to See Your Property’s Index Scores!
Now that you have identified what lease options would be best for you, check out LandGate’s free property report to see what lease options would be best for your property. We provide value index scores for all of these types of lease options and more with details explaining those numbers. This makes it easy for you to understand the hidden value of your land.
