Risks and Benefits of Leasing – The Owner’s Perspective
If you are thinking about leasing your horse, consider the following benefits and risks carefully. You can follow Steps to Take in Leasing Your Horse to help minimize the risks and maximize the benefits.
Benefits:
Income
In most lease arrangements, the lessee pays the owner a monthly fee, and the horse owner can use those funds to help offset the cost of keeping the horse.
Grooming, Exercise and Training
Maybe you’re not getting out to the barn every day, and your horse is climbing the walls of his stall. Maybe his mane looks like a Thelwell pony, but you don’t have the energy and time to do anything about it. Perhaps your horse is green and you don’t have the time and energy to finish his training. Depending on your lease agreement, your lessee may be able to help serve these needs.
A New Horse Buddy
Tired of that glazed look on your spouse’s face when you mention your horse? Depending upon your relationship with your lessee, you may have a companion to go with you to horse events and take pride in your horse’s progress.
Risks:
Training
Each person rides differently and brings a different set of beliefs and experiences with them to the barn. If your lessee’s riding and training style is different from yours, it could undermine some of your own training efforts. See Steps to Take in Leasing Your Horse for tips on minimizing this risk.
Injury to Your Horse, Your Property or Others
Even if your lessee is an experienced horse person who treats your horse with lots of TLC, accidents will probably happen. To help minimize these types of risks, make sure that your lease agreement spells out any specific care your horse requires and who will be responsible if anything happens to your horse, your equipment, the lessee or anyone else.
The Lease May Not Ultimately Work Out.
Even if you follow all of the Steps to Take in Leasing Your Horse, your lease arrangement might not end up being long term. Maybe your lessee has to move away from the area or maybe he loses interest. Maybe you suddenly have more time to ride or want to send your horse away to a trainer. In any case, your lease agreement should cover all of the circumstances under which either party can terminate the agreement and how the termination should work.
Benefits:
Income
In most lease arrangements, the lessee pays the owner a monthly fee, and the horse owner can use those funds to help offset the cost of keeping the horse.
Grooming, Exercise and Training
Maybe you’re not getting out to the barn every day, and your horse is climbing the walls of his stall. Maybe his mane looks like a Thelwell pony, but you don’t have the energy and time to do anything about it. Perhaps your horse is green and you don’t have the time and energy to finish his training. Depending on your lease agreement, your lessee may be able to help serve these needs.
A New Horse Buddy
Tired of that glazed look on your spouse’s face when you mention your horse? Depending upon your relationship with your lessee, you may have a companion to go with you to horse events and take pride in your horse’s progress.
Risks:
Training
Each person rides differently and brings a different set of beliefs and experiences with them to the barn. If your lessee’s riding and training style is different from yours, it could undermine some of your own training efforts. See Steps to Take in Leasing Your Horse for tips on minimizing this risk.
Injury to Your Horse, Your Property or Others
Even if your lessee is an experienced horse person who treats your horse with lots of TLC, accidents will probably happen. To help minimize these types of risks, make sure that your lease agreement spells out any specific care your horse requires and who will be responsible if anything happens to your horse, your equipment, the lessee or anyone else.
The Lease May Not Ultimately Work Out.
Even if you follow all of the Steps to Take in Leasing Your Horse, your lease arrangement might not end up being long term. Maybe your lessee has to move away from the area or maybe he loses interest. Maybe you suddenly have more time to ride or want to send your horse away to a trainer. In any case, your lease agreement should cover all of the circumstances under which either party can terminate the agreement and how the termination should work.