The Growing Importance and Value Implications of Recreational Hunting Leases to Agricultural Land Investors in America

John S. Baen ()
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John S. Baen: FIREL Department College of Business Administration University of North Texas PO Box 310410 Denton, Texas 76203, http://www.coba.unt.edu/firel/

Journal of Real Estate Research, 1997, vol. 14, issue 3, pages 399-414

Abstract: This study considers the evolution and explosion growth of recreational hunting leases in America. The traditional European practice of leasing rural lands for the exclusive rights of tenants to hunt and fish is now an important revenue source for American agricultural land investors/owners. Hunting lease income can enhance value to the point that recreation becomes the highest and best use of rural land for both the market and income approaches to valuation. This study offers new perspectives for valuing the income component from recreational leases as a percentage of market value and proposes a hunting lease index for land owners and tenants to consider.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1997
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