5 tips for leasing a horse
Leasing a horse allows horse enthusiasts to experience the delight and responsibility of having a horse without the large initial investment. Leasing can be an excellent prerequisite if you're seriously considering purchasing a horse.
"Horse ownership is a serious commitment of time, as well as money. By leasing, one is able to determine if they can make the commitment," says Sandy Arledge, American Quarter Horse Association professional horse breeder. Consider these five tips before leasing.
1. Know where to look
The classified section of a local newspaper is a good place to start your search. Check tack shops in your area, as horse owners may post a notice that could turn out to be a good lead. If you take riding lessons, ask your instructor or other horse owners at the stable if they know of anyone interested in leasing. The Internet can also be a valuable resource. No matter how you find a horse, be sure to visit it and its owner before you sign an agreement.
2. Get a vet check
A sound horse is crucial to safe riding. Have a veterinarian check the horse you're thinking about leasing before you commit, especially if your lease states you will be responsible for veterinarian bills and farrier care. The vet check will make you aware of the horse's strengths and weaknesses. Have your vet put the examination in writing and attach it to your lease agreement. By doing this, all preexisting conditions are clearly noted and having it in writing will avoid any potential problems once the lease expires or is terminated.
3. Match the horse's abilities with your goals
The type of horse you lease depends on what type of riding you will be doing. Arledge notes that the prospective owner can try different types of horses to decide which style/type/breed is best for them. After leasing a certain breed of horse, you may find that type of horse is not what you're looking for especially if you will be showing the horse. "Taking lessons and leasing before buying is not only beneficial to the horse but also advantageous to the rider," says Arledge. You don't want to end up with a horse that turns out to be nothing like you expected.
Another point to consider is whom you will be sharing the horse with if you're entering into a shared lease agreement. Similar goals for the horse make for a better arrangement between both riders.
How much experience do you have with a horse? The capabilities of an older horse may suit the novice rider but as you become more experienced and comfortable, the goals for the horse you've leased may change. Leasing should be an enjoyable learning and growing experience. The horse must be compatible to your abilities as a rider.
The temperament of a horse can make a big difference to an inexperienced rider. If you lease a horse with a good attitude, riding will be safe and fun. A horse that you are not able to handle can lead to a bad experience for both you and the horse.
4. Put it in writing
There are many different types of leases. Choose a lease that best suits your goals as a rider.
The lessee in a full lease agreement, typically, pays for all of the horse's boarding costs in addition to routine farrier/veterinarian care and tack supplies. In return, the lessee usually has unrestricted riding times and days. You may also have access to the horse for horse shows and other special events.
A shared lease is less expensive but can be more restrictive. Plan about three to four days per week with the horse, depending on the lease.
Most expenses, such as boarding, are split between the lessee and the horse's owner. In exchange, the lessee cares for and rides the horse a percentage of the time. With this type of lease, it is important to get all of the details in writing since you are sharing responsibilities and costs. Some things to consider are where the horse will be housed, how expenses will be divided up, a schedule for shared riding, who is responsible for routine care of the horse, and how horse shows and other special events will be handled. It's a good idea to reevaluate your lease each year.
5. Buy insurance
Insurance is a negotiable item in a lease. Some lease agreements require that the owner maintain the insurance on the horse. However, it doesn't hurt to have the added peace of mind to ensure that you're not left holding a hefty price tag for a horse you never intended to purchase. If the horse should be stolen or die suddenly, having insurance will protect you.
"Both parties should be adequately covered," says Arledge. "Should there be a lawsuit involving a third party (for instance, if the horse gets loose when the lessee is using it and injures a third party), there is no doubt that both lessee and lessor will be named parties to the action." For your own protection, liability insurance is a must.
