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Debra Dove
Member
Username: 9193
Post Number: 182
Registered: 7-2004
| | Posted on Thursday, Jul 20, 2006 - 11:47 am: |   |
We have experience with two sponsoring situations, but we have been presented with a situation where the owners of a horse at our barn are faced with selling their beloved 5 year old because the husband is battling cancer which is draining family finances.
What is entailed in leasing a horse? We have one that will be our "forever" horse. But my daughter would like to have a horse she could ride, show and be able to enjoy before leaving in three years after high school graduation..
We were wondering if leasing would be a way to ease the financial burden of this family, relieve them of the pain of selling a horse they really love, allow us the opportunity to "have a second horse" that my daughter could continue her riding, without having the worry of selling/keeping a second horse in three years.
I'm testing the waters here and would appreciate any experiences or suggestions, cautions or other considerations regarding leasing situations.
Smiles,
Debra |
Linda Lashley
Member
Username: Lhenning
Post Number: 131
Registered: 6-2003
| | Posted on Thursday, Jul 20, 2006 - 2:41 pm: | |
I leased a horse for a year. It sounds like a similar situation to yours. I was responsible for all his expenses such as vet care and farrier, but the monthly rental paid his normal board. In exchange, I could ride him anytime I pleased. It was a good situation for me because I was too new to be ready to own a horse, but it gave me experience on an older gentle fellow. The drawback was the barn owner used their arena to practice jumping and didn't want me in there while she did so. I had difficulty getting riding time that worked in my schedule, unless it was nice outside and I could ride trails. I would make sure you have all the money issues agreed upon right up front. It sounds as if you are at a boarding facility so perhaps the riding time issues wouldn't be a problem for you. If not, I would clarify that beforehand too.
Linda |
Sara Wolff
Member
Username: Mrose
Post Number: 1563
Registered: 1-2000
| | Posted on Thursday, Jul 20, 2006 - 3:14 pm: | |
I have lease out horses a few times. Once a mare for breeding, and the other times were to students back when I gave lessons.
In the case of the students, The paid all the horses expenses, including board and in exchange the got to use the horse like it was their own. They also paid for normal medical expenses like worming, but I agreed to pay for major medical expenses. The horse could not leave the property without my permission (except for a trail ride) and I had to approve of the mode of transportation. The lease was by the year, and if at the end of the year the amount of money paid on the lease over and above the amount paid for farrier, vet, etc. could go towards the purchase of the horse if the student decided to buy the horse. I agreed to not sell the horse to anyone other than the student until the end of the lease period, and to give the student "first right of refusal." I also had a clause in the lease that stipulated that if I saw the horse being mis-treated or if the stipulations of the lease were broken, I would consider the lease "null and void" and take back the horse.
In the three cases where I did this, it worked out very well. In two cases, the student bought the horses, and in the third case, she got married and gave up riding for awhile. |
Nicole Tucker
Member
Username: Tuckern
Post Number: 66
Registered: 9-2004
| | Posted on Thursday, Jul 20, 2006 - 5:34 pm: | |
Leases can be win-win-win situations, just make sure all the bases are covered.
I leased a horse from a friend about four years ago. I wasn't ready to purchase my first horse, but felt that a lease would give me the extra experience I needed, plus then I'd have a mentor to help me when I didn't know what to do.
I ended up doing the lease for about a year. I paid $140 a month, and that took care of the horse's food and boarding, and I did the daily care of him. For three months, I even had the horse at my house, being the sole care taker.
My advice would be to cover all bases, just so there are no questions in the future. Things like whose responsible for the day-to-day care of the horse, who's financially responsible for the horse, where's the horse going to live, what happens if the horse gets injured and is no longer ridable, etc.
Just my two cents.
Nicole |
Wanda Martinez
Member
Username: Sonoita
Post Number: 38
Registered: 10-2005
| | Posted on Friday, Jul 21, 2006 - 11:48 am: | |
I have done several. My first was not a good situation. i leased this horse and the owner could ride some times. It ended up the owner riding all the time and I payed for it. DUMB.
My next was a 21 year old and I brought him to my place and payed for everything , and it has turned out great. Make sure though that you take into consideration if he was not to be rideable or injured and it would be a major expense to you that you would be willing to take that on otherwise the actual owner could be in a world of hurt. Also if he had to be put down who would make that call. These would be just some of the questions you should at least consider.Remember the horse too. |
