I have been approached by a neighbor to lease some land to him to keep 4-5 horses on. The fenced portion of the land is about 6 acres and has a metal barn with 4 stalls, running water, electricity, tack room, and wash bay.
From what we have talked about so far he would be responsible for taking care of the horses completely. I wouldn't be responsible for anything related to taking care of the horses. But I have a couple of questions below.
I was wondering what was a reasonable price to ask for the lease of the land? The land is in a rural community of Georgia. I haven't leased any land before except for hunting purposes. Would it be by the head? Acre?
My biggest concern is what liabilities would be associated with leasing land for this purpose? For example..If the horse break out of the fence who would be responsible? If someone gets hurt by the horses while on my property who would be responsible?
If there is anything else I should know about this please let me know.