Best way to lease out a horse.?

Question

I want to partially lease out my National Show Horse, but I've never done it and am not exaclty sure about all the legal parts that go with it.

I still want to be able to go out and ride when I can, but with college next month I know that its going to be harder for me to get out there as often as I'd like, and it would be nice to split the $400 a month horse board.

Just wanted to see if anyone had any ideas on how to make leasing him out as smooth as possible.

I have a girl who is younger than I'd like, but she is a very good rider, and is looking to do dressage with him.

Any legal stuff I should know...any horror stories anyone has... Dont want to get myself into something that could turn out horribly! Thanks!

Answer 1

Just draw up the contracts yourself, put in everything you want to include and have her sign it.  A signed and witnessed contract is legal no matter who wrote it.  

Make sure you specify it is a 1/2 or partial lease, not a full lease, and that your riding time takes precedence over hers.  If you know your schedule or hers, you can even specify what days or times she is permitted to ride and what days or times you want the horse.  

Typically all vet and farrier fees remain the responsibility of the owner, not the lessee.

You should also have a separate page indicating whether she is allowed to do shows with him, remove him from the property, etc, and that you want to be notified ahead of time about any shows or any other reasons he'll be off the property, and so forth.

You'll also want an insurance waiver saying that you are not responsible for any injury she incurs while riding your horse.  (Your boarding facility may want her to sign a waiver for them as well, so be sure to ask ahead of time.)

If she's under 18 her parent should also read and sign the contract.

The best arrangements are when everybody understands what's going on.  Sit down and think of every single issue you can, right down to whether she can use your tack or feed him treats or give him a bath.  Confusion over what she can and can't do is bound to lead to mistakes and hurt feelings, so don't leave anything out!  Also make a statement that you can end her lease at any time without warning if she violates your lease rules in any way.  

One last thing, you might want to specify that the lease is month to month at first, rather than a 6-month or 12-month lease, just so you can get to know her and get used to the arrangement before you lock yourself into a situation for a long period of time.

Good luck!

Answer 2

Please, please make sure that whoever you lease it to is 100% trustworthy. It's not uncommon for a horse to be leased out and then disappear for good. Not trying to scare you but be careful.

Answer 3

You definitely want to create a contract with everything spelled out (how often the person who leases can ride the horse, what horse bills they are responsible for paying, etc.).

Review the contract with the person who is leasing the horse and make any changes that result from negotiations before both of you sign it.  Make sure the person leasing the horse gets a copy.  If you have to mail them a copy, send the copy certified mail with confirmation so you can have proof they received it.

You will want to be sure to be very detailed.  Include when the monthly payment is due and what date late penalties will begin to accrue and how much the late penalties are per day after the grace period.  For example, the monthly payment of $400.00 (four hundred dollar) is due on the first of each month.  Late penalties will be assessed at $2.00 (two dollars) per day after the 7th of the month.

Or whatever you want it to say.

You can search on-line for sample lease contracts and modify one to meet your needs.

Your best bet is to plan ahead and get a contract written up that is very detailed.  If the person is to exercise the horse on certain days, put that in the contract along with a procedure for re-scheduling a ride should something come up (bad weather, family problems, illness,etc.).

Good luck!

Answer 4

Make sure you do a 1/2 lease that is on site with permission to show.

Put in any restrictions that you would like her to have, such as she has to use her own equipment and she isn't allowed to switch bits without checking with you first.

Make sure you have everything in writing for her to sign, and her parents need to sign as well if she's under 18. This includes a notice that if she falls off, is kicked or otherwise injured you are not responsible due to the inherent risk of equine activities. I would also insist on an abuse/neglect clause that if you find out she's being nasty to your horse you can terminate the least and don't repay her.

Make sure you have routine vet, farrier and other expenses clearly spelled out who is responsible for paying.

Write a list of the things that you want the person leasing your horse to do. If you aren't 100% comfortable with the person leasing your horse trust your instincts. Don't just think of the cost of board being split but finding the best rider for your horse.