leasing
   

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leasing

This is a discussion on leasing within the Horse Talk forums, part of the Keeping and Caring for Horses category
  • 30 day notice Horse Lease
  • Horse owner refuses to take leased horse back after 30 day notice

 
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    05-20-2008, 09:57 PM
  #1
Banned
leasing

I think that since it looks like I'll have to take a full load for college next year to be covered by my parents insurance, I'll more than likely have to lease Sonny out so he'd get some excersize and some attention if I don't have time to give it to him.

I HAVE to take 12 credits a semister...I have to work at LEAST 17 hours a week to afford Sonny...so with that I may or may not be able to get up to see Sonny more than once a week. I'll definitely be able to up at least once a week...but not sure if I could do more.

I know I am ONLY leasing Sonny out to a friend...I don't trust him with a stranger I hardly know....I already have 3 girls that I ride with for lessons that said they'd like to...and I have one in particular that I'd like to lease him...hopefully she'd be able to.

My questions are
1) I am going to insure Sonny...that way any thing major that happens to him will not charge me too much...what type of insurance should I get? What company is the best for insuring horses for a reasonable rate?
2) It's only going to be a half lease...I don't want her coming up every single day to ride Sonny...nor do I want her riding him more than 3 hours a day (or until he's sweaty)...how much do you think is "reasonable" to ask. I was thinking of $100 a month...not including if anything happens to him that SHE caused
3) I will be making up a contract for everything and make sure both the girl and her parents sign saying they agree with the terms and conditions...anything I should add besides what days she can ride and for how long....price,....but what else?

Do you think I should lease him out? I've put So much work into Sonny and I'd hate to have someone ruin him because they let him get away with something.

For those who have leased out a horse before...any parts that you regret?
     
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    05-21-2008, 07:24 AM
  #2
Weanling
As someone who's done a lot of research on the leasee end, hopefully I can help. I think $100 for a half lease is reasonable. If you break it down, that's only about $8 each time they come out and ride. Is that about half of the cost of his board? Is that really all the money you'd need to make up for the money you won't be making while working? For these girls you know, watch them do everything you'd expect of them (grooming, tacking up, riding, etc), grill them with questions, whatever. This is your baby, and you should take every precaution! There are good lease agreements all over the internet, but tailer yours however need be. You can try and draft your own, but the pre-made ones are very professionally done and cover the bases.

Hopefully this helps!
     
    05-21-2008, 10:09 AM
  #3
Green Broke
I think half leasing Sonny out is a very practical and mature decision. Plus, it's only temporary!

I'm in the process of leasing my horse out as well. Generally for a show horse the lease fee is 20% of the horses value per year. Most of our school horses can be half leased out for $100 a month. I think that's a pretty fair price. Plus people are in responsible for paying half board and half vet/farrier (which is prorated per month). IN your contract you're going to want to specify who pays for what vet expense. Our says that maintenance gets split. Bills from negligence/injury on the leasors part (ie: gets injured while jumping) the leasor pays. For 'random' injuries (ie: gets kicked in the pasture) the owner pays.

Other things to consider:
-clarifying that no one else can ride him other then that person (so they don't bring their friends out and let them have pony rides or something unless you're ok with that)
-saying that if she gets hurt you are not at fault
-that have the right to terminate the lease at any point if she violates your contract
-that she/you have a certain number of days notice before ending the lease
-specify which vet/farrier you'd like her to use

I would highly suggest insuring! I'm actually in the process of researching that right now. Most of the horses at our barn are insured through Equi-Sure. I think i'm going to insure him for mortality/theft and Emergency Surgical Coverage at $7,500 (in case of colic surgery). The total ends up being something like $550 for the year (which I think is great) but it depends on the cost of your horse.

With your guidlines on how you want him cared for I'd try to make things as clear as possible. For example, saying you can only ride "until he's sweaty", that's kind of vague. Plus, I don't know how hot it gets there but here in the summer a horse can get sweaty after 5 minutes of walking! Saying something like, a "maximum of two hours undersaddle" is more clear.

Remember too that you are leasing him out to A FRIEND! Someone you trust and care about. Someone who will also love Sonny. We've had some nice people lease out their horses who turned out to be absolutely horrible and controlling to their leasors. Those cases turned out so bad that no one wanted to lease their horses (no matter how fancy they were) and no one wanted to do anything with those people anymore.
     
    05-21-2008, 10:30 AM
  #4
Banned
I pay $300 a month now, but I don't want the person to go up every single day to ride Sonny...I want him to have days off so he can rest and just have fun in his pasture. That's why I'm not having them cover the whole half of the board. As for vet and farrier...they MUST use the one I already have for him...my farrier is amazing and I'd never switch (unless he totally ruined Sonny's feet on purpose or something). For vet bills...I'd cover the shots, coggins, etc...but if they don't want to clean his sheath then they have to pay to get it done (normally I clean it myself).
Same here...negligence/injury is paid by the leasor...but I am going to set rules for jumping and trails, etc for Sonny's safety and their safety...no higher than 1 foot jumps (Sonny never picks up his feet while jumping with someone on his back and last time I did it, he rammed into the jumping poles and almost fell)...and for trails...they MUST be accompanied by at least 2 other people OR the barn owner

And I'd pay for any random injuries like him mutalating his face again...or hurting something in the pasture.

For colic, I'd pay unless it was their fault (feeding him something he shouldn't have had...or too much of something).

Yep, I only want the leasor to ride...not a friend

Should I also stress in the lease that Sonny is to be outside in his pasture no matter what type of weather...and not in his stall?

I paid $5000 for Sonny, but I'd like to be covered for mortality, colic, or any other surgery I'd need if the worse happens.

I'm not going to be that controlling or anything...the only time I'd really mention something is if I noticed something wrong with Sonny. I don't know for sure anyways if I'll be leasing him out to a friend or not...but I'd definitely perfer it to be someone I know, trust, know how they ride, and know that they are capable of taking care of Sonny.

The only problem is, is my barn owner is anti-"lease any horse other than hers" so I might have to have someone besides those 3 girls lease him.

Do you think the things above that I listed is asking too much (like the jumping)? I never really jump with Sonny (I have only done it twice), and he doesn't enjoy doing it either...as for the trails, I want to make sure that they don't go out alone so they don't get hurt...also I doubt the barn owner will let them go out alone for her insurance wise.
     
    05-21-2008, 12:11 PM
  #5
Weanling
Tailor the lease however it's going to work best for you and Sonny. If that means stipulating he's always to be pastured, never jumped higher than 1 ft., rules for trail riding, etc. None of that is unreasonable.

Can the barn owner refuse to let you lease him out to anyone who rides there regularly (i.e. Your friends)? I don't own my own horse so I don't know how strict they legally can be about that. If she can/does, have the people you interview be explicit about what they would like to do with Sonny. If they anticipate wanting to jump him 1 ft., watch them do it.
     

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