Long term, off the farm lease.
I'm going to college this fall, and I've been considering leasing out my very nice, finished competition horse. I've found someone who is tossing around the idea of leasing her, and they are going to try her out in the next couple days.
It will be an off farm lease. In fact, an out of state lease. I live in Georgia, and my horse will be going to Alabama. I have never leased a horse, nor have I leased one to someone else. I don't know what to begin charging these people for this lease, what conditions or constrictions I should put on the lease, etc. I'm very new to the idea.
I did hear someone say they leased out their horse like this: they took the total estimated cost of caring for the horse for a year and divided that by 12. That number was what they charged monthly to the person leasing the horse.
And of course the leasee pays for feed, hay, entry fees, shoes...
But what about major vet bills, should they come up?
I was also told I need to take out an insurance policy on my horse. Is this a good idea?
It will be a long term lease. 6 months to a year or more.