View Full Version : Looking for advice about typical half lease.
Jul. 31, 2009, 06:21 PM
I've never half leased a horse before, and I want to try to avoid any potential issues by understanding what to expect in the way of typical half lease agreements.
I am hoping that I will be able find a half lease where I will only pay a monthly fee in order to be able to ride for three days per week. But I'm not sure what the typical arrangements are when it comes to Farrier, Vet, or any of the other costly things that might occur.
To make my question clear, I am currently unemployed and I have decided that I would like improve my riding while I have the time to do so. I found a great trainer who I like very much, and I would like to find a horse on which I can practice what I am learning. I ride a lesson horse for my lessons, and I think having an additional three days of riding per week would be ideal.
I could afford to pay a monthly fee for the use of a horse, but I cannot afford to pay more than what I can plan for.
Would this be a typical half lease arrangement? Or in a half lease are you typically be required to pay for part of Farrier, Vet, misc. unforeseen costs, etc..
I think my main view is that I would rather pay a higher monthly fee, than be obligated to pay any unforeseen costs that may break my budget. Does this sound reasonable?
Jul. 31, 2009, 06:24 PM
I had a half-lease over the Winter on my one my trainer's lesson horses. I only had to pay the lease fee and no additional costs. Have you asked your trainer? Maybe you can make some arrangement with one of the horses you've been riding in your lessons.
Jul. 31, 2009, 06:31 PM
I am currently half leasing my guy out because I just don't have as much time to ride him as I would like. I charge the leasee (I think is the term?) a set amount every month. I came up with that amount by adding up my horse's expenses for the year (board, extra feed, supplements, shoes, routine vet care, insurance), dividing by 12 to find a monthly average and charging her approximately half of that. Insurance is definitely a necessity in lease situations so that you (and the owner!) don't have to worry about that "what if" factor.
Jul. 31, 2009, 07:07 PM
In all the half leases I've seen the lessee pays for half board, half vet, and half farrier.
Make sure that the lessor provides you with a contract that you both agree and sign to. That way you wont have any extra costs thrown at you.
Jul. 31, 2009, 07:10 PM
In a half lease it is sometimes easier to lump farrier/supplement cost into board cost and have the owner pay for them outright. That way you can rest assured they are being taken care of.
For a typical 1/2 lease at my barn, it would go as follows:
1/2 board cost
1/2 shoe cost
1/2 supplements cost
Vet bills are taken care of by owners.
Jul. 31, 2009, 07:14 PM
In addition to what Pirateer listed there can be a "lease" fee on top of expenses. Bottom line, if you free lease you are usually responsible for all expenses on a montly basis.....board, shoes, supplements, insurance cost. Often the lessor will include a fee on top.......depends on what the horse does but the lease fee can be very expensive
Jul. 31, 2009, 07:25 PM
I have never seen a "lease fee" associated with a partial lease.
Jul. 31, 2009, 07:36 PM
I think it really depends. When I half leased I used to pay a lease fee, half of board costs, half of farrier costs, and half of vet costs.
Jul. 31, 2009, 07:40 PM
I set up a lease like that for my horse while I was in college. The lesee paid me a monthly amount (equal to 1/2 board + 1/2 suppliments + all shoes + 0 vet). I felt better about doing the lease this way because I knew exactly what was going on with the horse as far as care and schedules. It really seemed like less of a hassle for all parties... I paid my horse bills like normal and they gave me a monthly check. There was a clause in the contract that the leasee would be responsible for vet bills for any injuries due to negligance.
The leasee was a rider at my barn that I had been riding with my trainer for several years. I mostly made the deal because my horse needed more attention and she was a good rider for him. I would not offer the same deal to a complete stranger.
If I had to do it again, I might still do a monthly-rate lease, but I would definately look into getting an insurance policy for the horse (medical/loss of use) and having the leasee cover the premium.
Jul. 31, 2009, 08:42 PM
A half lease can have whatever terms you both agree to. Whatever the arrangement GET IT IN WRITING, signed by all involved parties. Make sure you have covered
Who can ride the horse/when.
Who pays for regular vet care (worming, shots, teeth floating), farrier, and unexpected vet bills.
How can the lease be terminated by each party. How much notice?
If horse jumps, how often riders can jump each week, and max height. (You don't want to 1/2 lease a horse that you'd like to jump twice a week and find out that he is being jumped the other 4 days.)
If horse is shown, are you credited for days horse is at show? Can you take him off the property to shows, clinics, lessons?