We make hay on several places. The ones that are good hay, we fertilize and normally do a 1/3 - 2/3 split if they need hay... or will keep all the first cutting which we roll, and then do sq bales the 2nd cutting so they can put hay in the barn... They get up to 1/2 the sq bales. Or they get it all and pay us for half... sometimes some only get like 50-60 square bales out of a couple hundred. It all depends.
We do soil samples for every place at least every other year and mostly all get done every year. We will split the lime with the landowner, as it is improving the over all condition of the land. We do the fertilizer. We use alot of poultry litter so that it is also adding organic matter to the soil. Get some weeds with it, but the condition of the soil makes it worth it, as it gets more friable and less dense and compacted. Then it has more earthworms and such.
We mow off several of the "country estates" where people have built these big houses in the middle of 10-25 acre places. We will fertilize if the grass is halfway decent. But we have to have a guarantee for the place for the year when we sign the land use tax forms. That way we don't lose the value of the fertilizer, to someone undercutting us by offering the landowner money on top of the land use tax forms. Most we do not pay them, but it keeps them from having to pay to have it bush hogged.
It pays to fertilize so that you get a decent return, even on the "free places. It is time and money to run the tractor across the land several times....may as well get a decent return in hay. If it is crappy, we don't make it into hay, we will bush hog it and they pay. There aren't too many around here that will do any bushogging and some of the places are rough and ledges...
We have all we want to do most of the time. Have lost a few places over the years to being under bid.... then the owners have come back and asked us to come back as the place isn't kept up or fertilized and they get let down or the people will just not go back after a few years because the return isn't enough. Mostly they won't fertilize right... just nitrogen to get growth, and the land suffers. We had a place for over 25 years, and it went from making about 25 rolls 5x5, total 2 cuttings in the beginning, to making 84 this year for just first cutting... about 18 of the 25 acres can be cut. We used to rotate cattle there from another place across the road... that place was sold, then this place got sold and we had it 3 years then the guy across the road came in and offered more so the owners finally offered our rent money back and we could get first cutting for the fertilizer as they didn't want to pay us back for that. We finally agreed and it is now history. The neighbor up the road farms about 400 acres, they are friends, and he refused to go talk to the guy when he called them knowing it had been our rental forever. He said you watch... the guy who got it, and the guy he has to do the hay, is known to not fertilize anything he can get away without doing.... so in a few years it will go down hill. Since we no longer have the place across the road from it, (another friend sold it after his wife passed away), we have no interest in going back there. But the point is that we put into that place alot of money over the years, used the ground wisely, and it really started to produce bumper crops.
It pays if you can get a place long term and are willing to do some extras.
Yes , we are like bigfoot, we bushhog around several places too to keep the trash from coming out into the field and neaten it up a little too.