What responsibilities come with leasing a horse?
- the names,addresses and telephone numbers of the horse owner (the lessor) and rider (the lessee);
- a description of the horse (name,age,breed,gender,height,color,distinguishing markings,registration number,etc.);
- the term?the start and end dates?of the agreement (which may be month-to-month or for a year,a season or a series of shows);
What does it mean when you lease a horse?
The arrangement, essentially a formal rental agreement between an owner and a rider for a horse’s use, has shown signs of gaining ground in these economically challenging times. At its most basic, leasing a horse is a way for an owner to reduce the cost of her horse’s care without selling him or taking him out of work.
Is leasing a horse a good idea?
Leasing a horse is nearly always less expensive than buying one. Leasing often allows riders of all levels to get a better quality horse than they might buy. Horse owners don’t usually sell their best or most promising horses, but do lease them out when they don’t have time for them or need some extra income.
How much does leasing a horse cost?
For a full lease, the lease fee is most often about 25% – 30% of the horse’s entire perceived value paid annually. So, for a horse worth $10,000, you can expect a lease fee of around $2500 yearly.
What are the pros and cons of leasing a horse?
Leasing A Horse
- Pros. You can stop paying for the lease whenever you want (if not in a long term lease contract) Typically much cheaper than buying a horse.
- Cons. The horse still doesn’t belong to you so the owner has the final say. You may still have to share your horse with other people, depends on the terms of the lease.
How long should you ride before leasing a horse?
I recommend leasing for at least 6 months to a year before deciding to purchase. With part of that being as a full lease. With a full lease you are responsible for that horse’s welfare without going all in.
What is free leasing a horse?
A free lease means that the horse is leased to someone without any payment to the owner. When you have a free lease you retain ownership and control of your horse but your horse, in best-case scenarios, is still cared for and loved. Everyone wins. The owner has good care for the horse they love.
What is the average monthly cost of owning a horse?
Responses to a horse-ownership survey from the University of Maine found that the average annual cost of horse ownership is $3,876 per horse, while the median cost is $2,419. That puts the average monthly expense anywhere from $200 to $325 – on par with a car payment.
Do they lease Teslas?
Tesla leasing offers affordable terms and convenient, monthly payment options to qualifying customers. Learn more about the leasing application process, making monthly payments and available lease-end options.
What does half lease a horse mean?
It’s called the “half lease.” In this type of agreement, the owner of the horse or lessor splits the horse’s care expenses and riding time with a lessee. It can be a beneficial way to save money on board, feed, vet bills, etc., and it can be great for your horse if your own saddle time is limited.
How does a half lease on a horse work?
A half lease typically entails three rides per week and the base cost is half of the horse’s expenses. This averages the estimated lease fee to $350 per month. Ride times, jumping outside of lessons, and lessee’s fiscal responsibility are regulated directly by the owner and an agreed upon contract.
How do you convince your parents to let you lease a horse?
You can suggest ideas, some that I’ve mentioned, like “Mom, what if I earned extra money to help pay for the horse?” “Dad would it help if I could work at the barn doing chores in exchange for riding lessons?” Ask them to tell you what they want from you in return for getting to your goals, and do your best to comply
How does leasing a racehorse work?
A racing lease is a contractual agreement between a lessor(s) and the lessee(s), whereby the lessee pays the lessor a rental fee for the use of a racehorse. For simplicity within this ‘Lease of a Racehorse’ form, the lessor will be referred to as the owner.
How much is a horse?
To buy a horse, you can expect to pay between $100 – $10,000, depending on the horse breed’s pedigree, how you are planning to use the horse, and your location. The average cost of a hobby-horse is about $3,000. According to Seriously Equestrian, the most expensive horse breeds can cost up to $250,000.
The Benefits of Leasing a Horse
Leasing a horse is a sensible approach to make the most of available resources for those of us who are concerned about saving money. In these difficult economic times, the arrangement, which is simply a legal leasing agreement between a horse owner and a rider for the use of a horse, has showed signs of rising popularity among horse owners and riders. To put it simply, leasing a horse is a solution for a horse owner to lower the expense of her animal’s maintenance without selling him or removing him from the working environment.
what you are looking for: a relaxed outing every couple of weeks or the opportunity to compete against an established athlete for a season?
For horse owners, leasing their horses may assist to pay the costs of board and care while also providing piece of mind that their horses will continue to have a fulfilling existence.
- In the best of circumstances, the advantages of leasing a horse go much beyond the simple financial gain of saving money.
- “It has helped me establish a reputation as a breeder of excellent horses,” she adds.
- Chris Phaneuf, the owner of Indian Meadow Farm in West Newbury, Massachusetts, was relieved to know that he was in good hands.
- She, on the other hand, was not ready to give up her Thoroughbred hunter, Shady, or split ways with him.
- Consequently, when the option to lease a more experienced horse presented itself, she deliberated for a long time about what to do with him.
- He’s going to be mine for the rest of his life, I’ve decided.” She notes that leasing him not only helps to offset the costs of the more experienced hunter, but it also enables her to learn more about him “is confident in his ability to provide excellent care at all times.
- A rider can, for example, lease a motorcycle.
- Leasing a horse is a sensible method to make the most of available resources for those of us who are concerned about saving money on our transportation expenses. In these difficult economic times, the arrangement, which is simply a legal leasing agreement between a horse owner and a rider for the use of a horse, has showed indications of gaining support. Fundamentally speaking, leasing a horse allows an owner to lower the expense of her horse’s maintenance without having to sell him or put him out of service. For riders, it’s a method of becoming more involved in the equestrian community? what you are looking for: a relaxed outing every couple of weeks or the chance to compete against an established athlete for a season This is frequently done without incurring any financial liability. Leasing your horse can help you save money on board and care while also providing you with the assurance that he will continue to live a productive life. The opportunity for riders to be part in their passion without incurring the whole financial burden is a significant benefit. |? Stacey Nedrow-Wigmore is a writer and editor based in the United Kingdom. Purchasing a horse on lease has several advantages that go far beyond simply saving money on the purchase price. Chelise Storace, owner of Cressbrook Stables, which is situated out of Kensington Equestrian Center in Kensington, New Hampshire, found that leasing horses was a successful approach to demonstrate her talents as a trainer and instructor to prospective clients and customers. The fact that she has “excellent horses” has helped her to establish a name for herself. From the standpoint of the horse’s owner, leasing a horse provides confidence that a serviceable horse will continue to live a productive life while in the care of another rider. Chris Phaneuf, the owner of Indian Meadow Farm in West Newbury, Massachusetts, was relieved to hear that his farm was in good hands. She was a hunter/jumper rider who realized she had reached a stage in her career when a more advanced show horse would be beneficial to her ability to develop her riding. Her Thoroughbred hunter, Shady, was a part of her life and she wasn’t ready to give him up. In Chris’s eyes, he had always been a friend rather than a business partner. Consequently, when the option to lease a more experienced horse presented itself, she deliberated long and hard about what to do with him. Shady is really important to Chris, he adds. He’ll be mine for the rest of his life, I’m sure of it.” She notes that leasing him not only helps to offset the costs of the more experienced hunter, but it also allows her to spend more time with her family and other obligations “is confident in my ability to provide continuous care for him The true advantage is that I won’t be selling an older horse into an uncertain market with an unknown future, which is a significant advantage.” Accessibility at a Reasonable Cost There are a variety of reasons why riders choose to lease a horse, and cost savings may be the most important factor in their decision. A rider can, for instance, lease a vehicle.
In order to find a match Whether you’re a horse owner with a horse available for sale or a rider searching for a horse to lease, the most natural first step in finding a compatible companion is to get the word out about your availability. It’s possible that simply conversing with friends at your barn or writing a notice on the bulletin board may enough. A classified ad, whether in print or online, will assist you in reaching a larger audience. Take stock of what you have to offer as well as your objectives at the commencement of your quest.
- what they will be doing, or what their activity will be.
- ability?the amount of competence that each individual has obtained and the likelihood that they will advance together.
- their physical height in relation to one another.
- Do you have a good temperament?
- Gail takes into account a horse’s dependability as well.
- As a result, Olana suggests that a rider lease a horse that she is already familiar with.
- According to Olana, selecting a well-known organization boosts the probability of finding an acceptable match.
“You’re keeping an eye on your horse or pony and you’re aware of what’s going on,” Olana continues.
There are two primary types of leases: commercial and residential.
In the majority of situations, she also pays a portion of his board of directors?
in addition to the expense of normal farriery and veterinarian treatment.
A complete lease does not often stipulate when or how much a horse may be ridden, nor does it place any restrictions on how much time a horse may be ridden.
The term “partial lease” refers to a situation in which a lessee agrees to cover a portion of a horse’s expenditures, often half of his board at the barn where he is housed.
This agreement, which is also known as a half lease or a share lease, often necessitates regular communication between the owner and the rider in order to prevent problems, particularly when it comes to organizing riding and training hours as well as participation in contests and clinics.
Although a lease agreement can be verbal, most owners and riders prefer to have the information in writing to reduce the likelihood of misunderstandings and misunderstanding later on.
Others use one of the many lease forms that are available in numerous reference books and on the Internet to create their own.
According to Chelise, “my current lease agreement was created by an attorney.” “Initially, I relied on one that I had put up, but it appeared as though something would constantly come up that it didn’t address.
I’ve tacked on a few additional lines here and there as needed.
This is something that a lawyer would not know, and after having horses returned to me in July that had not been vaccinated, I decided to include it.” The amount to which a lease agreement’s specifics are covered can vary depending on the circumstances of a scenario; nonetheless, the issues that are often addressed include
- Names, addresses, and telephone numbers of the horse owner (the lessor) and rider (the lessee)
- Description of the horse (including age, breed, gender and height
- Distinctive markings
- Registration number
- And other information)
- What is the term? what are the beginning and ending dates? stipulations of use (number of days per week, purpose/activity, under the guidance of a specific trainer/instructor, etc.)
- Limitations of use
- Instructions for care (stabling, turnout, feed, water, supplements, routine veterinary and farriery care, emergency assistance)
- And who bears the cost of care (stabling, turnout, feed, water and supplements, routine veterinary and farriery care, emergency assistance).
The majority of the time, leasing costs are negotiable. An annual full lease for a horse is typically priced between 25 and 30% of the horse’s market worth, depending on the circumstances. In other words, around $2,500 for a horse with a market value of $10,000. Despite the fact that it is still a significant financial commitment for a budget-conscious rider, it is a realistic approach to gain access to a great horse. And it just seems to make excellent sense, no matter how bad the economy is doing right now.
This article was first published in the February 2012 edition of Practical Horseman Magazine.
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When most people think of owning a horse, they naturally think about getting one from a breeder. However, there are some significant disadvantages to purchasing a horse, and it is not the only alternative. You might also consider leasing your horse as an alternative. There are some significant advantages to leasing your horse, including fewer obligations. For someone who hasn’t had any experience leasing or purchasing a horse, the job might be overwhelming due to the large number of unknown variables.
Pros and Cons of Leasing a Horse
Leasing a horse isn’t always the greatest option for everyone, but it might be the best solution in some circumstances. Let’s take a look at the advantages and disadvantages of leasing a horse. Pros
- When you lease a horse, your financial obligations are decreased. If it dies, you will not suffer the same consequences as if you had owned the horse. Your duties may be lowered in accordance with the kind of lease you have
- It is far easier to terminate a horse lease than it is to sell a horse. It is frequently less expensive to lease a horse than it is to purchase one. The horse is generally already boarding at an appropriate facility when you arrive.
- You do not have ownership of the horse. You are not permitted to do anything you want with the animal. It’s possible that you’ll only get access to the horse on particular days. You’ll need to locate a safe spot to store it.
Types of Leases
When it comes to leasing a horse, there are two primary alternatives to consider. The first is to purchase the horse outright. When contrasted to the other, each has its own set of advantages and disadvantages.
During the course of a full lease, you’ll be responsible for the horse’s complete care and boarding. In most cases, you’ll get complete access to the horse at all times for riding and performances. On the other hand, you’ll be responsible for all veterinarian appointments, horseshoeing, and the rest of the horse’s care, as well as the whole cost of boarding the horse.
With a shared lease, you will have less obligations, cheaper costs, and less access to the horse than if you were on your own. In most cases, you’ll only be able to visit the site on specific days. Two individuals often have a shared lease, which implies that they each pay half of the horse’s boarding and care costs and that they each have access to the horse for half of the time. It is very important to pay attention to the details of a shared lease before signing it so that you know who pays what, how much is being paid at what time of day, when and who will have access on what days, and how special events will be handled, among other things.
The Costs of Leasing a Horse
For many people, leasing a horse rather than purchasing one is the most cost-effective option because it allows them to potentially save a significant amount of money.
Even so, there are a number of expenses associated with leasing a horse that you should be aware of if you’re thinking about taking this route.
You’ll want to get the horse checked out by a veterinarian before you even consider signing a lease so that you can be confident that the horse is in good health. This can also assist to guarantee that you are not held liable for any health issues that existed prior to the date of signing the lease agreement. Once you sign, you will be responsible for the majority, if not the entire, of the horse’s care, including all future veterinary appointments. Image courtesy of wavebreakmedia and Shutterstock.com
The expense of boarding a horse accounts for a significant amount of the total cost of leasing a horse. On a full lease, you’ll be responsible for anywhere from 50 percent to 100 percent of your horse’s boarding expenses. In the case of a shared lease, you’ll typically be responsible for half of the boarding payments.
The Lease Fee
When it comes to the expense of leasing a horse, boarding fees account for a significant amount of the entire price tag. On a full lease, you’ll be responsible for ranging from 50 percent to 100 percent of your horse’s boarding expenses. In most cases, you’ll be responsible for half of the boarding expenses if you’re renting with someone else.
Boarding costs account for a significant amount of the entire cost of leasing a horse. On a full lease, you’ll be responsible for anything from 50% to 100% of the boarding payments for your horse. In most cases, you’ll be responsible for half of the boarding payments if you’re in a shared lease.
Finding a Horse to Lease
Finding a horse that is suitable for leasing is one of the most difficult aspects of the process. Fortunately, there are a number of realistic options for finding a horse to lease. Horses for lease may still be found in classified advertising, which is a useful resource. While you may not be successful in finding horses for lease in a newspaper these days, Craigslist and other online classified sites frequently contain advertisements for horses for lease. If you are unsuccessful in your search through the ads, consider checking with your local tack store.
It’s possible that someone at the business will know about a horse that is available for lease if you’re lucky enough.
There are many horse owners who would be glad to share their horses with you in order to assist you lower the costs of owning and caring for a horse.
Your Responsibilities as a Horse Lessee
While you are leasing a horse, you will be responsible for the horse’s care and boarding while the lease is in effect. You’ll have to keep up with the animal’s needs on a consistent basis. Grooming, shoes, and veterinarian examinations will be required, and you will be responsible for all of these things. Make certain that you keep meticulous records of everything you do with a horse you’re renting or leasing. In the event that something should go wrong, you’ll want to be prepared to provide consistent and high-quality treatment.
The responsibility for properly reading and comprehending your lease rests with you before you sign it. In order to avoid being held responsible for something costly that you were not aware of, it is necessary to be confident of your duties before proceeding.
Although leasing a horse rather than owning one is not for everyone, there are various advantages to doing so. The responsibility for the care and boarding of a horse will still fall on your shoulders. The cost of leasing is higher than that of purchasing a horse, but there is far less risk involved, and in many cases, leasing is more cost-effective than purchasing a horse. See: How to Halter Break a Horse for more information. Image courtesy of Alexas Fotos and Pixabay.
How to Lease a Horse (Plus Pros and Cons)
Ellison is a skilled horse trainer and riding instructor who has worked in the industry for over a decade. She operates a summer camp program where she introduces children to horses in a secure environment. Leasing a horse may be a fantastic choice for any rider; nevertheless, it is important to be aware of all of your duties in relation to the agreement in question. Ellison Hartley is a fictional character created by author Ellison Hartley.
What Does It Mean to Lease a Horse?
When you lease a horse, you are essentially paying a fee in exchange for increased riding time on the horse of your choice. Many horse owners choose to lease their horses in order to reduce the financial burden of owning a horse. Owners who don’t have enough time to ride but still want to keep their horses exercised on a regular basis may choose for this option. This may be a fantastic alternative for certain riders, and it is often a better option than purchasing a motorcycle outright. Leasing might serve as a stepping stone towards home ownership for some people.
Financial and Time Arrangements Can Vary
In terms of financial responsibilities as well as the period of time that the leaser will be permitted to ride on the horse, each horse owner will make their own leasing arrangements with the leaser. Some horse owners lease their horses to riders for a certain amount, and the rider is only permitted to ride the horse on a specific number of days per week during that period. The reason for this is because my horses are utilized in lessons and cannot be committed to a lease rider on a consistent basis throughout the week.
- Additionally, there is no additional financial duty in this situation.
- This is what I believe to be a half lease.
- This would, without a doubt, increase the financial burden.
- In other circumstances, it may also involve additional financial obligations, such as invoices from the veterinarian or farrier, among other things.
Each horse owner will have his or her own set of goals and objectives. That is one of the most appealing aspects of leasing: the two parties may come to an agreement that is beneficial to both of them.
Does the Horse Stay or Go?
In terms of financial responsibilities as well as the period of time that the leaser will be permitted to ride on the horse, each horse owner will make their own leasing arrangements with the leasing company. When someone leases a horse from an owner, the rider is given a certain number of riding days each week in exchange for the rental cost that the owner charges. The reason for this is that my horses are utilized in lessons and can’t be committed to a lease rider every day of the week like this.
- There is no additional financial burden in this situation.
- To me, this is the equivalent of a portion of a rental agreement.
- The financial impact of this is evident.
- Others may entail additional financial obligations, such as those associated with veterinary or farrier fees.
- That is one of the most appealing aspects of leasing: the two parties may come to an agreement that is mutually beneficial to them.
Make Sure Your Agreement Is in Writing
Even if you are leasing a known horse at your regular farm, it is critical to have written lease agreements in order to avoid a misunderstanding later on. In order for both parties to understand what is going to happen and what their obligations are, make sure that all of the specifics have been worked out and put on paper. Leasing agreements might differ from one owner to the next and from one farm to the next. I recommend that formal contracts be used to ensure that everyone is on the same page and understands their respective duties.
Ellison Hartley is a fictional character created by author Ellison Hartley.
Lease Term Length Can Vary
Partially leased horses are sometimes leased on an ongoing monthly basis, with the lease rider making monthly payments to the lessor. In other situations, particularly if the horse is being relocated to a new barn, the lease may be for a full year, with payments due at the start of the lease period. The specifics of this are dependent on the two parties in question. If you are leasing a horse to use in shows, you would most likely want to lease it for the entire year or for a certain show season, depending on your requirements.
Riders who want to compete will almost certainly wish to lease the horse for the duration of the competition season. Ellison Hartley is a fictional character created by author Ellison Hartley.
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Depending on whether you will be relocating the horse to a new facility or whether you will be bringing it out and about a lot, the owner may want you to pay for the horse’s insurance coverage. It is possible that the insurance will cover medical expenses or even death. Because the cost of an insurance is determined by the value of the horse you are leasing, the price of a policy might vary significantly.
Who Pays for Vet and Farrier Fees?
Make certain that you understand whether or not you are accountable for veterinarian and farrier expenditures. If so, are you able to utilize the veterinarian and farrier of your choosing? Or are you required to use the property owner’s? Although include all of these details in a formal contract may seem overkill, it is always preferable to have everything established ahead of time rather than later on (especially if you are friends with the owner of the horse you are leasing). Wouldn’t it , unfortunate if you were to lose a buddy because of an inconsequential item in a horse lease agreement?
Why Lease Instead of Buy?
People frequently inquire as to why they should lease a horse rather than purchase one. It is, in my opinion, an excellent method for riders who are thinking about buying a horse to have a taste of what it is like to have “their own horse.” It is a fantastic method to determine whether or not you have the time to devote to a horse without having to purchase one. Leasing provides you with the option to ride the horse you require right away. So, if you are still learning, you may lease a horse suited for your ability for as long as you need to, and then transfer to another horse when you are ready.
- Alternatively, you may have to elect to sell your first horse in order to purchase another.
- Leasing is an excellent option for young riders because it allows them to gain valuable riding experience on a horse with which they are already familiar.
- It is possible to ride a variety of horses when leasing, depending on the arrangements you make.
- Ellison Hartley is a fictional character created by author Ellison Hartley.
The Cons of Leasing a Horse
If you want to purchase a horse in the near future, leasing may not be the most cost-effective option because you will be spending money that might be saved for the purchase of a horse in the future if you do not lease. Introducing novice riders to a range of horses is a crucial part of their journey toward becoming a competent rider. Riders who only ride one horse all of the time miss out on the learning opportunities that come with riding a variety of different horses. Some of my clients have taken advantage of my leasing programs, in which they essentially purchase riding time and are then allocated to whichever horse is available to them when they arrive on their scheduled day (obviously, I make sure the horses are suited to their ability level).
For some, leasing a horse allows them to experience what it is like to have “your own,” which is not something everyone wants to do.
Having this emotion is not something they will have if they ride a new horse every time. Depending on the lease agreement, you may be restricted in terms of when you may ride and whether or not you are permitted to take the horse off the property, which for some riders would be a deal-breaker.
The Pros of Leasing a Horse
With horse leasing, you may enjoy all of the benefits of horse ownership without having to make a large financial investment up front. Additionally, you enjoy the benefits of horse ownership without the burden of having to make major decisions on the health and well-being of the horse. Leasing a horse is going to be less expensive than purchasing one, especially if you are doing a partial lease, because you will most likely not be liable for the horse’s veterinary and farrier expenses. You still get to enjoy the enjoyable aspects of horse ownership, such as spending more time with the horse and being able to purchase items for it, such as color-coordinating saddle pads and polo wraps, halters, and other such accessories.
Try Leasing a Horse Before You Buy
I would urge that any rider who is considering purchasing a horse first lease one for a period of time. This allows them to determine whether or not they have the time to devote to a horse. Not to mention the time spent with a horse without the direct supervision of a trainer or instructor on a consistent basis, which is very important for young riders. This will give them an excellent indicator of whether or not they are ready to buy a horse of their own, and it will also assist them in building confidence along the process.
- Actually, it is more of a case by circumstance kind of thing.
- If you are considering about taking the next step and spending more time with horses, I recommend that you speak with your trainer or teacher first.
- Your doctor should be in a better position to advise you on your specific situation.
- If you are new to the horse world, leasing as a stepping stone to ownership might be a fantastic choice for you.
- Think about your possibilities and consult with your teacher.
- Ellison Hartley (author) posted the following on June 20, 2019 from Maryland, USA: It is entirely dependent on the contents of the lease agreement to determine this.
- If after the lease term has expired, the owner wishes to dispose of the horse, he or she would most likely grant the person who was leasing the animal first refusal to purchase the horse.
If they didn’t want to, then, if the horse is still available for purchase, you should be able to purchase it from them. Vivi Blakeon is a writer and actress. The 18th of June, 2019: Is it still possible to purchase a horse from the owner if someone else is leasing the horse to you?
The Benefits (and Drawbacks) of Leasing Instead of Buying a Horse
I wrote a piece a few months ago on the top7 things you should consider when seeking to buy a horse, and it has since gone viral. I mentioned leasing a horse in that piece, but the subject is worthy of its entire blog post on its own. After all, if you’ve got your heart set on having a horse of your very own, leasing a horse may come off as a disappointment. Although I have had experience with horses, including owning them, selling them, shopping for horses, and ultimately electing to lease our present horse, I feel there is a lot to be said for the leasing scenario.
What Does it Mean to Lease a Horse?
My amazement when I discovered that you could lease a horse in the same manner that you could lease a car when I first became engaged in the horse world as an adult was a pleasant surprise. An alternative to owning a horse completely is to pay the animal’s owner a predetermined monthly or annual fee in exchange for the privilege to ride the horse. Generally speaking, there are three sorts of horse leases: a full lease, a half lease, and a free lease. Each agreement is unique, so be sure you thoroughly read and understand yours before signing it.
Full Leasing a Horse
When you fully lease a horse, you are paying a predetermined amount in exchange for having exclusive access to the horse. As a result, you are the only one who can ride the horse. Although the horse will not be used for lessons, and the owner will not ride it, you will be responsible for ensuring that the horse receives the attention and exercise that it need. A full-lease agreement may also include other expenditures like as board, veterinary bills, and shoeing expenses, among other things. The experience is nearly identical to that of being the horse’s owner.
Half Leasing a Horse
Even if you are still paying the agreed-upon cost to get access to the horse, you aren’t the only one who will be riding him/her. Regardless of their current condition, the horse can still be utilized in a lesson program, and the owner can continue to ride the horse himself. With a half lease, either the owner is paying for board, vet, and farrier fees, or you are responsible for a set amount of those costs.
Free Lease a Horse
In the case of free leasing a horse, you are not required to pay for access to the horse, whether it is at the stable or “off farm.” However, you will often be liable for the board of directors as well as some costs. Free leases are frequently provided by horse owners who are unable to pay to keep their horses but do not wish to relinquish control over their animals’ destiny. It’s an excellent method for them to ensure that their horse is well cared for while also alleviating some of the financial load associated with horse ownership.
Get it in Writing
Whatever lease option you choose, be certain that you have a written copy of your agreement with the landlord. This assists in ensuring that everyone is on the same page and that everyone is aware of who is accountable for what and how to get there. Signing the agreement on behalf of both the horse’s owner and the lessee is required (you). If you have any issues regarding your lease agreement, there is a wonderful article on HorseAuthority.co about some of the things you should look for. Of course, it is always a good idea to visit an equine attorney if you have any queries about your agreement.
The horse farm in Milton, Vermont, where we were leasing Mo taught us a valuable lesson: just because you have a contract does not ensure the trainer/owner will follow through on his or her obligations.
So What’s So Great About Leasing a Horse?
Now that we’ve discussed what it means to lease a horse, let’s talk about why leasing a horse would be a better alternative than purchasing one. Since selling our own horse in August, we have opted to lease another one, and we have been really pleased with our decision!
1. Leasing Allows You to Get the Horse You Need in the Present
It is possible that the horse you require for your present ability level will be different from the horse you require 2-3 years later, depending on where you are in your riding career. Particularly important if your youngster is riding a bicycle. Not only will their abilities improve, but so will their physical fitness! When your child grows larger and heavier, the 13hh pony that is excellent for them today will not be a suitable match for them in the future. Choosing to lease a horse allows you to locate a mount that is a suitable match for you right now, and it relieves you of the pressure of having to sell a horse after you’ve outgrown it and need something bigger or more advanced in the future.
2. Leasing a Horse Gives You More Flexibility in Terms of PPEs (Pre Purchase Exams) – In Fact, You May Not Even Need One
In my post about purchasing a horse, I mention that I stressed the need of having a list of “non-negotiables” from the beginning of the process. If you’re leasing a horse, this is still true, but in my opinion, you don’t need to have as extensive of a list – and you may even be able to avoid spending the money on a complete PPE program altogether. It all boils down to what you want to accomplish. For example, due of our experiences with Teddy, I would never buy or lease a horse that had Lyme illness.
- However, other from this and a basic vet check, I’m not sure I’d be interested in a PPE.
- That’s fine with me as long as our leasing agreement contains a condition that permits us to terminate the lease early if the horse develops ill or becomes otherwise unfit.
- This is because it would be difficult to sell a horse that was not in good condition.
- I only want assurance that, with regular maintenance, they will continue to function as a reliable mount for the duration of my lease.
3. You Don’t Have to Hassle With Selling the Horse if You’re Leasing
So that gets me to my second point: selling a horse is a time-consuming endeavor. It was a lot of work! I’ve only done it once, and I’m not interested in repeating the experience. It’s simply too much effort, between dealing with tire kickers and no-show appointments, as well as ensuring that the folks who want to buy the horse are genuinely going to provide him with a nice home for him. No. Thank you very much.
4. Leasing May Be the Best Way to Get a Unicorn
The one thing I learned when hunting for a horse is that people often don’t sell their good horses, and this was one of those lessons. No matter how many times I phoned a stable and explained exactly what I was searching for, the owner would always respond with something like: “Oh, my horse is just like that! He is, however, not for sale. “I would never consider selling him.” A magnificent horse is difficult to come by, so when people do come across one, it is understandable that they want to maintain it and ensure that it is well cared for at all times.
While an owner or trainer may not be interested in selling their unicorn of a horse, they are frequently interested in leasing them to the proper person or organization.
Why would someone be interested in leasing their prized equine possession?
Some horse owners may have an excessive number of horses (as is common among horse enthusiasts), and leasing a few of them out might help them save money.
Alternatively, the horse may have belonged to their child, who has outgrown it, but the family does not like to part with their prized possession. When evaluating a horse for lease, it’s important to ask plenty of questions and find out why the horse is being offered for lease in the first place.
What Are the Drawbacks of Leasing a Horse?
Some people would argue that leasing a horse has the disadvantage of requiring you to invest money in an animal that you do not own. That does not appear to be a disadvantage to me. For as long as the horse has a sound mind and is physically fit for riding, I’m pleased to nurture it and provide my kid (and myself) with a safe mount to enjoy the outdoors. However, there is one disadvantage: if the owner decides at some time that she no longer wants to lease her horse or decides to sell him, we may be unable to obtain the horse.
So, in the end, this disadvantage of leasing our horse is no different from the disadvantage of purchasing him entirely.
Some may argue that having your own horse will protect you from this; but, I am personally aware of two instances at two separate barns when a trainer utilized a private horse for lessons without the owner’s knowledge or authorization.
This was only revealed to us when our old trainer chose to publish a photo on Facebook without Mo’s face on it, assuming that we would not recognize the rest of his physique and so would not notice.
Meet Our New Horse!
Would you want to meet our newest member of the family? His name is Mo, and you can see him at the top of this post, as well as to the right, in the photo. He’s a 16-year-old Quarter Horse gelding with a height of 16.2 hands who is everything we were hoping for in a horse. He used to be an eventing horse in his younger years, and as a result, he has a fearless and solid demeanor. When he was younger, he worked as a lesson horse until being purchased by a little girl who used him to ride. She progressed to a more advanced horse, who is currently being leased out to our family on a full-time basis.
- However, his kind disposition and sound intellect quickly changed my opinion about Mo’s.
- Teddy, like many other horses, would have lost his mind and ran around the arena if he had heard this and seen it.
- I knew right then and there that he was the right person for us.
- Is it possible that I’m being paranoid?
- However, in the horse world, it never hurts to be cautious.) Note updated on December 2019: I should have exercised much greater caution!
Following the termination of our contract, I began asking about in a larger circle and learned that this horse trainer had a reputation for being dishonest.
Understanding Leasing Contracts
Authored by Karen L. Weslowski, LL.B., a Litigation Attorney. Horse leasing is a fantastic alternative to horse ownership for those who do not have the time or resources to purchase their own horse outright. Leasing a horse might allow you to experience the benefits of owning one without the associated responsibilities or costs. Leasing a horse can assist horse owners save money on some of the expenses associated with owning and maintaining a horse. The key to a successful horse lease is to make sure that all parties are informed of their respective rights and duties under the lease agreement before signing it.
The Leasing Contract is a legal document that specifies the terms and conditions of a lease.
Generally speaking, a contract is an agreement with specific terms between two or more people (or corporations) in which there is a promise to do something in exchange for a valuable benefit, known in the law as “consideration.” A contract can be written or oral, and it can be between two or more people (or corporations).
- However, if a disagreement develops, establishing the existence and conditions of an oral contract is sometimes difficult to establish.
- It is the “lessor” who is referring to the person who is leasing the horse (in most cases, this is the horse’s owner).
- Due to the fact that there is no “technical” term for the various forms of leases, it is possible that alternative names for these leases will be used.
- This is the condition that is most similar to that of horse ownership.
- Additionally to covering all of the horse’s expenditures, the lessor may ask the payment of a leasing charge as well.
- Using the above example, if the leasing cost is computed at 25 percent of the horse’s value and the horse is worth $10,000, the annual lease charge will be $2,500.
- Image courtesy of Canstock/Cretien If the lessee and the lessor agree to a half-lease, the expenditures are shared evenly between them in exchange for the lessee’s right to care for and ride the horse for half of the time.
- Pre-Lease Prior to leasing a horse, the lessee may desire to have the animal examined by a veterinarian.
- This might be crucial if the horse becomes lame or dies during the lease period, and the lessor claims that the lessee’s improper use of the animal is to blame for the horse’s demise.
This might create complications for the lessee if they are unable to demonstrate that the lameness or death was caused by an unrelated or pre-existing medical condition.
- It is recommended that a good lease contract include the following information: The legal owner of the horse, as well as the name of the lessor (if they are not the same person)
- What is the name of the lessee? a detailed description of the horse, including its registered name, registration number, gender, breed, height, color, age, and markings
- And a photograph of the horse. The day on which the lease will begin
- The expiration date of the lease
- If the following expenses are to be shared, a term stating who is responsible for payment of the expenses (or, if the expenses are to be shared, the respective percentages payable by the lessor and lessee) and a term specifying to whom these payments are to be made (for example, if shared, does the lessee pay the lessor directly for their portion of the bill or does the lessee pay their portion of the bill directly): In addition to lodging and food (if not included in the board), instruction expenses, and horse show fees are also incurred. Whether or whether the lease can be canceled prior to the expiration date, and if so, under what conditions
- Whether or if the lease can be extended
- The names of the individuals who are permitted to ride the horse (if they are anybody other than the lessee)
- Whether the lessee is required to attend lessons from a certain instructor or if they are free to pick their own tutor
- In addition, whether or not there are any restrictions on the types of activities that can be performed with the horse (for example, if the lessee is not permitted to jump the horse higher than a certain height)
- Whether or not the lessee is permitted to take the horse off the property for trail rides
- The lessor may choose to insert a provision stating that the lessee uses the horse at their own risk and that the lessor is not liable for any loss or damage suffered by the lessee as a result of any activity linked with the usage of the horse
- And In addition, there may be a number of additional considerations, such as who selects the horse’s farrier schedule, food requirements, training requirements, and even minor details like as mane pulling, trimming, and foot polishing, among others. Disagreements about these seemingly insignificant details can frequently result in the most frustration and animosity between the parties to a lease. If there are extra terms to be added in the lease, the parties to the lease should meet and discuss any specific issues they have.
All parties should be clear on their respective rights and duties under the lease, including the names of the individuals who are permitted to ride the horse, the number of times the horse may be ridden, and whether or not the horse may be displayed on the property. Photo courtesy of Canstock/Pictures It has been highlighted that the parties may also choose to include language in the lease addressing what would happen if the horse becomes lame or worse, dies during the length of their agreement.
- What happens, on the other hand, if the horse becomes lame through the fault of the lessee?
- All of these are problems that the parties should consider in advance of finalizing the lease agreement and signing it.
- If lessees have any questions or concerns about the terms of the lease, they should ask and seek clarification from the landlord.
- Even though the lessor has not stipulated that the lessee must have horse insurance as a condition of the lease, it may be in the lessee’s best interests to obtain such insurance.
- A horse’s value is especially essential if the lessee does not have the financial means to acquire an appropriate replacement horse for the lessor.
- Everyone should be able to concentrate on the horse and reap the benefits of the lease after this has been done.
- Please do not act on the material supplied without first getting specialized legal counsel on their particular circumstances and the applicable law in their province of residence.
Should You Buy or Lease a Horse?
You may have contemplated getting a horse if you have a youngster who has recently expressed an interest in horseback riding or if you have been bitten by the horse-riding bug yourself. There is an alternative, though, and that is to lease a horse, just as you may lease a car rather than purchase one.
Here’s a look at the advantages and disadvantages of buying versus leasing, so you can decide which route is best for you…
One of the most significant benefits of having your own horse is that you can do with it whatever you want for as long as you want. Training, displaying, and breeding are all permitted without limitation. Additionally, you may use the horse to create revenue by leasing it out or by offering riding lessons to others.
Another significant advantage of owning a young horse is that you will not be inheriting the faults of previous riders. You have complete control over how you train the horse and can avoid establishing excessive fears or undesired behaviors.
The apparent disadvantage of having a horse is the financial outlay. Additionally, you must pay for veterinarian services, farriery services, dental services, feed and stalling as well as stalling and other related expenses. It is possible that you may have to pay for a pre-purchase checkup that includes lab work and imaging, as well as transportation from a former owner or breeder, before you can acquire the horse. Having the same power to control the training of a younger or “green broke” horse (such as a Thoroughbred off the racetrack) means you will have to put in more effort or hire a professional to do so on your behalf.
Leasing a Horse
The cost of leasing a horse is almost always less expensive than the cost of purchasing one. It’s a relatively low-cost alternative to purchasing a horse directly and relying on a revolving carousel of school horses at the stables for transportation. You have the consistency of riding one horse without having to spend a lot of money. When you lease, you are not need to own stables or land, which is another advantage. People who live on tiny plots of land or in apartments will find it an appealing choice as a result of these characteristics.
As a result, this option is preferable for youngsters who may or may not continue to ride, children who are fast developing, and riders who may be moving house in the near future, among other things.
Leasing typically enables riders of all skill levels to obtain a higher-quality horse than they would otherwise be able to obtain by purchasing.
This is an excellent alternative for those who want to experiment with different horse breeds, sizes, and temperaments.
For many people, developing a long-term relationship with an animal is one of the most rewarding experiences they will ever have. We adore these creatures, and many of their owners appreciate the opportunity to form a lifelong bond with them. Ponies may become a member of the family, and many horse owners are willing to take on additional responsibilities such as monitoring their horses’ health and well being. Previous disadvantages include the fact that the older the horse and the greater the number of riders it has seen, the more probable it is that you may witness other riders’ mistakes or even abusive behavior.
Leasing a horse is not a financial investment in the same way that renting a house is not. You won’t be able to sell the horse or earn any money from it until after the accident. Once the property is no longer in your possession, the money you spent on the lease and upkeep is forfeited.
What to Include in a Horse Lease Contract
When you lease a horse, you should be sure to obtain everything in written and signed by a legal representative. You should seriously consider having a qualified equine law practitioner review the contract to ensure that your interests are adequately safeguarded. Horse lease arrangements can be classified into three categories:
- In order to lease a horse, you need be sure to have everything documented in a written contract. To ensure that your interests are adequately safeguarded, you should seriously consider having a qualified equine law specialist review the agreement. Equine lease contracts may be divided into three categories:
You should talk about how long the lease will be for. For beginner riders, children, riders who are progressing in their ability level and riders who are unsure of what breed or discipline they would like to train with long term, a month-to-month lease is ideal. The use of a seasonal lease is preferable if you plan to display the horse or if the weather prevents you from riding for part of the year. A year-long lease, on the other hand, ensures that you have more time to get to know and love the same horse over the course of the year.
- Who is responsible for the costs of stalls, feed, veterinary care, farriery, dentistry, training, gear, equipment, and other related charges
- Who will be responsible for the horse’s insurance coverage
- Payment arrangements and costs (usually 25 to 30 percent of the horse’s worth every year, but this is sometimes negotiable)
- Maintenance and care of the horse
- And transportation. Training, travel, displaying, stalling, and care are all subject to restrictions and criteria. The option to renew or purchase a subscription
- Renter’s rights to terminate the lease under certain conditions
Consider include a veterinarian examination in the process, depending on your relationship with the horse’s owner and how well you know him or her. The lease should be examined in a manner similar to that of a thorough pre-purchase examination the more expensive the lease.
Where to Find Horses to Lease
If you determine that leasing is the best option for you or your family, you’ll have a plethora of options to choose from, including:
- Your stables or trainer
- Other nearby stables
- Other local stables near you equestrian magazines
- Online forums and social media
- Local feed and tack stores
- Riding groups
- Horse exhibitions
Investigate the owner’s reputation to the fullest extent. A little research and a little luck will lead you to a horse that fulfills your requirements and you’ll be well on your way to forming a new partnership! If you are a horse enthusiast, check out the FEI’s Instagram feed right now! Patricia Salem wrote the words.