What should be included in a horse lease agreement?

lessee and owner share portions of the care, the lease agreement should specify who is responsible for each type of expense (such as board, feed, medical care, farrier care, dental care, et cetera). The lease agreement should also specify how expenses are paid.

How does a horse lease work?

When you full lease a horse you pay an agreed upon fee for exclusive access to the horse. This means you are the only one riding the horse. It won’t be used for lessons, the owner will not ride it, and you’ll be responsible for making sure the horse gets the attention & exercise it deserves.

How long does a horse lease last?

Leasing is a short-term commitment (usually 3 to 12 months at a time). Leasing is far less expensive than owning a horse.

How much does it cost to partially lease a horse?

The Lease Fee So, for a horse worth $10,000, you can expect a lease fee of around $2500 yearly.

What is a free lease with horses?

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. The owner has good care for the horse they love.

How do I lease my horse?

Preparing to Lease Out Your Horse

1. Decide How Many Days the Lease Is For. Will you be offering a part or a full lease of your horse?
2. Determine What Experience the Rider Needs.
3. Decide on the Lease Price.
4. Decide on the Lessee’s Responsibilities.
5. Determine Any Limitations.
6. Draw Up a Contract.

Should I lease my horse out?

Leasing your horse out is a great option for many owners. It helps to minimize the financial demands of owning a horse, but allows someone else to enjoy your horse while you retain ownership.

Is it better to lease or buy a horse?

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 does a free horse lease work?

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.

How many acres do you need for a horse?

If you are attempting to figure the carrying capacity of land for a horse, then a good rule of thumb is 1-1/2 to 2 acres of open intensely managed land per horse. Two acres, if managed properly, should provide adequate forage in the form of pasture and/or hay ground.

How much does it cost to own a horse per month?

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.

What is a free lease on a horse?

In these challenging financial times, more and more horse owners have entered into arrangements they call “free leases.” No legal dictionary, to our knowledge, recognizes the term “free lease,” but in the horse industry it has come to mean a horse that is leased to another with no lease payment to the owner (the lessor …

When do you need to lease a horse?

If you are leasing a horse to use for shows, you would most likely want to lease it for the whole year or lease it for a certain show season. All of these things, as well as what the payment plans will be, should be spelled out clearly in the written lease contract.

What are the pros and cons of leasing a horse?

Depending on the lease arrangement you may be limited on when you can ride and if you can take the horse off the property, and for some riders, this would be a deal-breaker. The advantage of leasing is that you get all the benefits of horse ownership without the full financial commitment.

What happens if you break a lease on a horse?

Perhaps the most contentious part of securing a lease between parties comes in the “you break it, you buy it clause.” Lessee’s are often under the false impression that if a horse gets injured in their care they can just hand back the animal, and they are not responsible for the damage.

What are the rules for subletting a horse?

Any attempted assignment, subletting, transfer or encumbrance without Lessor’s consent is void and shall constitute a breach of the Lease. Consent to one assignment or subletting shall not be deemed consent to any subsequent assignment or subletting. 10.2. No Release of Lessee.