How does a free lease work?

Question

I have been offered a chance to lease a horse for the next 5 months without having to pay to lease it (I'm assuming this is what a free lease is). I would like to know how the financial side of things works in a free lease. Who pays for the food, etc. and who is responsible for the vet and farrier bills? I'll also have to pay for board near my house, but I can understand that I should pay for that. I'm just not sure how the rest of the finaces should work. Can anyone help me?

Answer 1

Hmm.

I pay $150 a month to lease my horse, and this is only for part of the board.

The owner pays for everything else (Vet/farrier, other half of board, and food).

I've never heard of a free lease, though. When you say you have to pay for board near your house, do you mean during the five months you don't have to pay to lease it? Or afterwards? Because if it's during those five months, then I don't see how it's free... :/

I've leased at two different stables though, and the first place I leased at was a higher price only because because the price to board was higher, and I was paying full board.  

I hope I'm not confusing you too much (because as I reread my answer... I was pretty confused myself!) (:

It may just depend on who the owner is... but from my experience, all I pay for is board, which is considered the price to lease.

Good luck!

EDIT:

Also... you may need to buy your own tack.

Answer 2

you pay for everything, minus the actual lease, and maybe the insurance.

Answer 3

then its basiclly ur horse 4 the next 5 months. u pay 4 EVRYTHING. ur just taking the horse off their hands

Answer 4

Theres not really such a thing called a free lease. You dont usually pay the owner to lease it unless its a school horse at your barn. Even if its a half or quarter lease, then you still have to pay half the board, or a quarter of the board. If its a full lease, you are responsible for EVERYTHING! its like owning the horse but without the legal binding and actual ownership, when you're done with the horse you just send it back to the owner. You pay the bills, for board, farrier, vet, etc. YOU ARE RESPONSIBLE FOR EVERYTHING! unless stated otherwise in the lease. The owner will write out a legal document (the lease) in which it will state the terms and conditions and what you are responsible for. Basically, you sign the lease, and if its a full lease the horse is technically yours, just not legally. For example: If the horse tears a ligament and the vet has to come out and perform ex-rays and what not, you are responsible for the fees. You pay for board, lessons, etc. LIke i said before, read the lease before you sign it and it will state what everything you have to do, dont have to do.

Answer 5

Who pays for what and how much and how often should be described in a contract between you and the owners. I would not enter a lease like this without a thorough contract stating all this. Chances are you will be financially responsible for a bulk of the horses upkeep if they are letting you lease the horse for free otherwise they would be losing money on a horse they aren't enjoying.

Answer 6

This would be like taking the horse on loan ( in the UK)

Generally you get to pay for and be responsible for everything.

However different people have different ideas of what is involved so you need to sit down and talk it all through with the person who is offering you the horse = make a list of things you need to ask about before you go or you are bound to forget something ( I know I would)

Some people will loan out a horse but say it needs to stay where it is, some will say you have to move it.

Some will continue to pay board and feed etc but give you all the work.

Some people will continue to pay the insurance, some people won't.

There are so many different variations that you really do need to talk it through and get it all written down and signed so you know exactly where you stand.

Here are 3 examples

1) my daughter has a horse on free loan - the owner pays the rent and the insurance. We pay for everything else - feed, bedding, standard vet, teeth, shoes and replacements to equipment ( new bits, numnahs etc) The horse stays where the owner placed it.

2)A friend had a horse on loan and only ever had to pay for the farrier as the owner figured it wouldn't need shoes if she wasn't riding it. Again that horse stayed where the owner placed it.

3) Another friend got a horse on loan and had to find a yard for it. Had to pay to move it and  had to pay for absolutely everything  including insurance ( and provide proof to the owner )

So you can see from that just how variable it can be. Also some loans will have exceptions like you aren't allowed to compete with it or no jumping etc.

Answer 7

Since you would be moving the horse, you would be paying for the horse as if it was yours for the duration of the lease...board, vet, farrier, worming, etc. The "free" part comes in by not having to additionally pay the owner a fee to use the horse.

I "free" lease  my horse to a girl, only I maintain the horse at my barn and pay all his expenses...she just comes out and cleans stalls and has riding use of him.

Definitely have a contract signed between you and the horse's owner...you can find sample ones on the internet and just adjust it according to your agreement and both sign. http://www.bayequest.com/pdf/lease-agree...

Answer 8

Ok, so I took on a free lease as I didn't have a horse to ride at the time due to a move. My agreement with owner was that I'd pay for everything except the vet and for his grazing as the horse was staying at her parents lot. However this has sort of "evolved" over time due to different circumstances. I have ended up actually doing quite a bit of training for the horse and I will sell him for the owner when I'm ready. I get a typical sellers fee for doing this and she has chipped in for feed, etc. So basically it will work out "free" for me as I will recoup what I spent. This is a very unsual circumstance though as usually the rider is learning from the leased horse. : ) Just be sure to get it in writing as everybodies terms are different. Have fun!

Answer 9

Its basically your own horse for the next 5months then. You pay for EVERYTHING feed,vet fees,farrier etc. If your confused about the payments and stuff you and the owner should sit and talk about it and have like a sort of contract. I've now have my own horses and loaning a horse and having your own is exactly the same to be honest. Iv'e had horses on loan in the past and a few of them contributed to the costs of feed and for the farrier etc. You really should talk to her about this so you both feel comfortable with what your doing. Good Luck and enjoy! x