Leasing land for Hay

[Ed O.]

I realize that this is largely influenced by local market conditions.

We've got about 13 acres of future development ground which won't be developed for 1-5 years. There's not a lot of trees and there are presently bales of hay on site from last year. I've got leads on a handful of people that want to cut hay on the area. My question is what is providing the ground for this worth? Presently, it looks like large round bales of hay in the area sell for $50 or more. I would simply lease the land and not provide any equipment or be involved aside of making sure they cut it as needed. Are there any pitfalls I need to be mindful of? Any other tips or ideas from people that are familiar with this subject would be greatly appreciated!

thanks!