The fixed rate per year is an annual charge for the right to use the grain storage. Need to rent grain bin jacks in Bloomington, Illinois. I need to find a source from which I can rent manual grain bin jacks in (or near) Bloomington, Illinois. The electricity used by the fans and stirators can be estimated by multiplying the number of hours each motor runs by 85 percent of the horsepower rating of each motor, by the cost per kw-hr of electricity used. Nevertheless, commercial storage rates serve as an unbiased indicator of storage costs that reflect current supply and demand for grain storage. The ideal situation is to have a separate electric meter for the grain storage bin so the actual electricity cost is known. Call today for a free quote on renting the 1st choice jack of grain bin builders in America!
At the end of its useful life the bin is worth nothing. Depreciation is the portion of the original cost of the grain bin that is counted as an expense each year. Other Considerations. Taxes and Insurance. If the tenant desires to lease the grain storage beyond that time, a new leasing arrangement should be made.
A common method is to charge a rental rate similar to what others are charging. Below are other items you may consider when developing a grain storage lease. So the average value over the useful life is $32, 500, halfway between $65, 000 and $0. For a $65, 000 grain bin, annual depreciation is $2, 600 (4 percent x $65, 000 = $2, 600). Bin Halo Connecting Shackles are made with heavy gauge steel and baked on paint. Average grain storage rental rates can be found in the Farm Building Rental Rate Survey (North Central Farm Management Extension Committee) and AgDM Information File A3-10 Iowa Farm Custom Rate Survey. Rent per year or per month.
Some useful guidelines are outlined below. For example, return on investment is $1, 625 for a $65, 000 grain bin. In the case of a drying bin, separate charges can be made for each bushel dried and each bushel stored. The Bin Halo is a simple set up and work can be done with a 2 man crew. Current Market Rates. The estimated total cost is $102. Management of grain. Updated August, 2014.
The annual depreciation (percent) of a grain bin with an expected useful life of 25 years is 4 percent (100 percent divided by 25 years equal 4 percent per year). A suggested rental charge for farm corn storage is about two-thirds to three-fourths of the local rate for commercial storage. Complete Bin Halo systems are available for purchase or rent. This is figured by multiplying one-half of the original investment ($32, 500) by a return on investment of 5 percent.
That is up to a 60ft. Remember, the fixed location of buildings often narrows the market to only a few prospective renters. In most states no property tax is assessed on equipment.
The farm storage rate is estimated to range from 10 cents (15 x 2 / 3 = 10) to 21 cents (28x 3 / 4 = 21). A typical rate is an initial charge of 9 to 16 cents per bushel for the first 3 months of storage and an additional charge of from 2 to 4 cents per bushel for each additional month. Have questions or looking for something not listed on the website? We will bring the jacks to you along with a highly experienced member of our team who will be responsible for ensuring the jacks perform at the best level possible to suit your needs. The rate of return on investment can be the rate at which money is borrowed, the rate at which money can be invested, or somewhere in between.
We have up to ten hydraulic bin jacks available for rent.