I completely agree ^^^ free leasing him out means you still get to keep your horsey but for now someone else will take on the burden of paying for him. You can then have a clause where you allowed to go and see him and have a ride at times.
If you can get away with I wouldnt sell him. But if you have to you have to. How big is the town you live in? Can you get to your horse by using public transport? Can you find somewhere closer to keep your horse? I know a girl who put a letter in the mail box of everyone who had a house with a large amount of land. In the letter she said she was looking for somewhere to keep her horse and would be happy to financially compensate. Someone called her back and said she could use their 20 acre paddock for $10 a week. Lets face it, you can save yourself a bunch of money by not paying to have other people look after your horse.
Maybe you can come up with some other money saving idea
where theres a will theres a way ;)