Pros and cons of leasing a horse...
I think this is where I should post this ;)
I am thinking about leasing a horse, but I would like to know a little bit about it before I choose a horse to lease. So could anybody help me out and tell me a little bit about leasing a horse? Thanks!:)
It's a good way to get into the horse world without as much commitment. My first horse was a lease. It was really great, I learned a lot, I got to show, and I think it really prepaired me for horse ownership. The big Con I had was that the owner sold the horse out from under me. I had no warning. I went out to ride one day and he was gone. I never got to say good bye. It was kind of terrible actually.
There are generally two kinds of leases...a partial lease, where you share your horse with x amount of other people, or he might also be used as a lesson horse. You're only allowed to come out and ride on certain days, at the most three a week. Then there are full leases, where the horse is essentially yours, you just don't have to pay for the vet bills,farrier bills, etc. (or at least not all of them--I know at my barn, its 200 a month plus half the cost of vaccinations and farrier visits, so it comes out to be like 225 every other month, and then twice a year its something like 250.) There may or may not be days that you can't come out and ride. A lot of barns that offer lessons offer their more advanced lesson horses up for lease, and this way you can have the freedom to take them to shows if you want to.....depending on who the BM/BO is, you might have to sign a contract for a certain amount of time (three months, six months, or a year) or you just sign a contract and go month-to-month, and are only required to give 30 days notice if you want to discontinue the lease.
Especially around the fall start of college terms, you can find a lot of good intermediate level riding horses for lease because their owners won't have as much time for them as they did over the summer, but don't want to sell them.
Sophie19 - I had the same sort of thing happen to me. I feel your pain. I loved that horse. Actually, I was going to buy him, so that makes it even worse.
Usually when you draw up the contract you can make it so that you have first option to buy the horse during the lease period before it is sold to anyone else.
I've been extremely lucky with my lease. I'm on a free lease for the next 7 months until my pony's owner comes home from university, then we will continue a part lease over the summer. Mine is a little different because I knew the owner before I leased her pony. I know I can trust her to not screw me over, and she trusts me as well. I get the lease and all his tack for free but I am responsible for paying for everything except vet bills. I think leasing is a great way to experience horse ownership with out it being permanent. You can also lease a horse that is suitable for your skill level and not worry about trying to sell it when you've outgrown it or want to try a more dificult horse. The one hard part about leasing though is that eventually you do have to give the horse back, which isn't the case with a horse you own.
Contracts folks - contracts.
We have several types of leases. Some are very restrictive and some are very open. It depends on the needs of horse, horse owner and the leasing party.
Leasing is a great way to get the experience without being locked in. IMHO leasing to own is the best for all parties. Especially the horse.
Thanks everyone!! You all have helped me a lot!!
Just one more thing! i leased a horse this summer and ended up buying him. it was an awesome experience, i got to know the horse before making any commitments, learned all his querks (and they all have them!) that owners wouldn't let a potential buyer know about. but agreed, contract!
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