PDA

View Full Version : How do you lease your horse?



Claudius
Apr. 4, 2012, 03:06 PM
I have a horse that people ask about, "Is he for sale? He is so beautiful." I say," Thank you, I love him and he is not for sale". But what I would like to do is lease him next season....but how do leases work? these are "customers": asking about him and I would suspect that leases go through the professionals. If professionals are asking about him, they are not asking me. so what's the best "avenue" to take??? I just left the professionals I was working with, amicably,and have not started with another one.

Piatt Farms
Apr. 4, 2012, 03:22 PM
I'm not sure about the "avenue" per say, mine have always been through word of mouth, however be sure you have a really good contract and make sure references are given and are checked. I remember reading horror stories about this.

If you know the possible lessee then it's helpful (you have an idea of their character, probably who they train with, the barn, etc), but ALWAYS make sure you have a really good contract in place and insurance on the horse. There are no limitations to the number of things that can go wrong and situations that can come up~ i.e: if the lessee loses their job and can't afford him, the horse is being trained in a manner you don't approve of, kept differently then you agreed to, difference of opinions on suppliments/shoeing/turnout/you name it....

if you are lucky enough to have a friend that's a lawyer or even pre-law, have them help you.

knock on wood, mine have always gone fine...but I think I've been the exceptionally lucky.

TB7
Apr. 4, 2012, 03:25 PM
I've never used a pro to lease my horse. I did have an instructor find a match one time, but I still had to write up the paperwork and I was in charge of making sure the lessee paid and was communicating with me about any issues, if any, that arose.

Paperwork being the lease document - you sign, lessee signs. Each person gets a copy.

When I found people, it was because I knew them or stumbled upon them and they happened to be a good fit.

Do you mean the customers OF the professionals were asking you? You might want to just ask the pro you just left for advice on leasing him.

What kind of lease are you looking to do? Full lease on premises? Full lease off premises? Partial lease? Free lease (I would assume if he's showing, then probably not)?

Leases work like any rental agreement. You can have a lessee sign a contract for a month to month basis, or for a set amount of time (x months, 1 year, etc). For whatever lease you create, the lessee has rights to riding your horse during certain times (if you do a half lease, they may be allowed 2-3 rides a week or a full lease at 5-6 rides per week - they can certainly have less, but they don't get any refund for not being able to make it for their ride time, unless you are flexible that way.) They also become financially responsible, should anything happen to your horse while he is under their care. Most people also have the lessee either pay farrier/vet/dentist bills entirely or pay a certain percentage to be split with the owner. Some owners have the lessee pay board for the horse if it's a full lease, some just use the monthly lease fee to pay for the board themselves.

Leases for H/J tend to have a base fee for a lease that is calculated based on the present worth of the horse. Some people seem to just make up an arbitrary number.

Personally, I've only ever half leased my horse, so I just split the price of the board and that's what I charged per month for the lease. I didn't have the lessees help pay for vet or farrier, though I wish I had - it would have been confusing to ask someone for half the bill each month when it came out to odd amounts...and since they did month to month leases, every other month/visit would not have necessarily worked out either.

lachevaline
Apr. 4, 2012, 03:37 PM
I think it depends on the kind of lease you want to do. I've seen show horses available to be leased for a whole year advertised in much the same was as a sale horse (especially online - check horses for lease on BigEq). But a half-lease can be more casual. If you board I think the first step would be letting the trainers at your barn know that the horse is available. When I half-leased I found out about the horse from my trainer.

Claudius
Apr. 4, 2012, 05:08 PM
Piatt Farms...thank you for the advice about a contract.

TB7,,....I was thinking a season lease here at WEF....I guess six months. Piatt Farms has made me aware that I would have to be very specific in the wording of the contract. It is the customers of the BNTs who have asked about my horse...but everything at this level is done THROUGH the professionals I think, so I did not discuss the possibility of leasing with the people who asked about him.

larchevaline....I was glad to read your suggestions about advertising, because as soon as I read that I knew I would never do that...it must be to someone I know, a professional I know, who knows me. unfortunately when I go home from WEF I have my own farm and do not ride with a professional. I am guessing I need to put more pressure on myself and win enough so that I can approach the professionals I know who know me.....I won ribbons at WEF but did not keep going.....I got exhausted, which is one of the reasons I thought I should lease him!!!

AmmyByNature
Apr. 4, 2012, 05:42 PM
My horses have always been leased to other people through word of mouth. My trainer's mouth. Horses that I have leased for me to ride have been found the same way.

Justice
Apr. 11, 2012, 08:36 AM
I would put up an ad on The Exchange with the lease price you want, for the situation you want. Just say to an approved trainer. Odds are someone will recognize the horse and call you.

fordtraktor
Apr. 11, 2012, 08:41 AM
Definitely lease him to a good pro's barn you trust to handle him with velvet gloves and look after his best interests if you decide to go that route. Not to be a negative nelly, but I have the devil's own luck with leases -- EVERY SINGLE ONE has come back lame (and they all left sound or sound with specific maintenance!). One came back with two blown suspensories and I never got to ride him again, I had to retire him. No more leases for me. Be careful, especially with a lovely horse like yours!

Florida Fan
Apr. 11, 2012, 10:10 AM
Claudius, why lease this horse? Even people/pros we know will all analyze your horse and his needs/training differently than you will. In my opinion, and I know your horse, I would just enjoy him without him having to show or be in the ring. He is such an awsome horse...not easy to come by, you have put a lot of your expertise into him (which is not easy to come by either)...why even take the tiniest chance something will happen? I too have seen some bad results from leases, and after having ridden them before and after, I can tell you it is disheartening. Unless you have sales horses that maybe don't vet and it is their only option.

findeight
Apr. 11, 2012, 12:05 PM
With your case here and your good AA level show Hunter, going thru a trusted Pro with trusted contacts is the only way to go. These people lease client horses back and forth and allow off property trials all the time. They know dam well if they break one, that is gone 'cause they will never get another chance with one.

Accidents can and do happen anytime and anywhere. But it greatly lessens your risk of abuse, neglect or half baked training/riding if that horse stays within known circles.

Whatever your reasons for considering a lease, IMO, the WEF lease with the horse staying in that immediate area and involving known pros with a good contract could be a win win for you and whoever leases.

Yeah, there will be a commission. But there are some good pros out there that are worth it and can place that horse properly. With YOUR approval required of course as well as the right to keep track. Which should be easy at WEF.

Florida Fan
Apr. 11, 2012, 06:23 PM
With your case here and your good AA level show Hunter, going thru a trusted Pro with trusted contacts is the only way to go. These people lease client horses back and forth and allow off property trials all the time. They know dam well if they break one, that is gone 'cause they will never get another chance with one.

Accidents can and do happen anytime and anywhere. But it greatly lessens your risk of abuse, neglect or half baked training/riding if that horse stays within known circles.

Whatever your reasons for considering a lease, IMO, the WEF lease with the horse staying in that immediate area and involving known pros with a good contract could be a win win for you and whoever leases.

Yeah, there will be a commission. But there are some good pros out there that are worth it and can place that horse properly. With YOUR approval required of course as well as the right to keep track. Which should be easy at WEF.

Those who come to show at WEF come to win...which is always not so easy on the horse. It is hard to have trained a horse one way and see it go through more rigorous training than you yourself would do. If you have a sales barn..this is business as usual. Having a "pet" is quite different. After he leaves your barn....he's their horse till lease is done.

FrenchFrytheEqHorse
Apr. 11, 2012, 06:48 PM
I've leased my horse out for the last 2 years. When I finished college, I didn't get into the job market as quickly as I anticipated, and while I was aggressively job hunting, had a capable junior show him in some medals finals for the end of the show season. I paid his bills during that time. At the end of December the first year, my trainer got him leased out to another trainer based on a word of mouth connection. The first year he went to a junior in her last year of doing the equitation and attended a few finals with her. This year, he went to a younger kid looking to move up to the 3', which was more suitable for him at 15.

Both years we got what most would consider 1/3 of his value, and the leasee is paying all of his expenses (board/vet/farrier/insurance). I am happy with the contract I have, and in 3 weeks will settle on the purchase of my first home because of this arrangement. The best part of it is that I will be able to retire him when the time comes, and that has been my goal since we bought him 10 years ago.

mvp
Apr. 11, 2012, 07:04 PM
With your case here and your good AA level show Hunter, going thru a trusted Pro with trusted contacts is the only way to go. These people lease client horses back and forth and allow off property trials all the time. They know dam well if they break one, that is gone 'cause they will never get another chance with one.

Accidents can and do happen anytime and anywhere. But it greatly lessens your risk of abuse, neglect or half baked training/riding if that horse stays within known circles.

Whatever your reasons for considering a lease, IMO, the WEF lease with the horse staying in that immediate area and involving known pros with a good contract could be a win win for you and whoever leases.

Yeah, there will be a commission. But there are some good pros out there that are worth it and can place that horse properly. With YOUR approval required of course as well as the right to keep track. Which should be easy at WEF.


Yes, OP, you are in the higher end of leasing so those posts apply.

Yes, you get a lease fee. Yes, pros get paid a commission. Yes, the lessees will want to really "use" your horse, but will also give him good care.

The trick is to know if your care matches up with those of your new pros, and those pros' standard matches those of the lessee's pros.

My rule of thumb: Don't lease out a horse that you expect to come back improved. At best, he'll come back mentally fine and with a bit more mileage on his body. If you are expecting something different or can't live with these terms, please spare everyone (and the horse) and don't lease.

Yes, you need a contract. Insurance for the horse is bought by you and you are named the payee. Here, you are just exercising your right to choose the company and policy and making sure this bit gets done.

They reimburse you for that. There is a clause of the lease that obligates the lessee to make sure that the terms of the insurance policy are followed.

Horse doesn't leave your farm (or pro's farm) until all the docs are signed and money has moved between you guys.

At the very end of the day, the success of the lease depends on the people. Trust your pros to pick the trainer with the riding and management program that will preserve your horse. In your shoes, I'd also want to go see my horse from time to time. IMO, there is no substitute for the owner (who is knowledgeable and realistic) seeing things first hand.

I hope your new trainers work out well and that you can find a great lessee if that's what you want.

findeight
Apr. 11, 2012, 07:31 PM
They may come hoping to win but the vast majority of people with the 3 to 5 thousand horses showing every week down there are pretty realistic. Not everybody pounds them into the ground trying to win-especially when there are many at least as good and quite a few obviously better.

That is where a good contract with limits on use and dealing with known individuals who will honor the contract provisions come in. WEF is pretty public, not hard to keep track even if it is stalled off the grounds. Entries are public and easy to find online.

FrenchFrytheEqHorse
Apr. 11, 2012, 09:28 PM
They may come hoping to win but the vast majority of people with the 3 to 5 thousand horses showing every week down there are pretty realistic. Not everybody pounds them into the ground trying to win-especially when there are many at least as good and quite a few obviously better.

That is where a good contract with limits on use and dealing with known individuals who will honor the contract provisions come in. WEF is pretty public, not hard to keep track even if it is stalled off the grounds. Entries are public and easy to find online.

This +50!

Leases don't have to be the nightmare that so many people make them out to be. Yes, you have to concede a lot of things when you decide to "rent" your horse out, but that's where the trusted pro (THAT YOU PAY FOR THEIR SERVICES) comes in. I trust my trainer A LOT. I've been with her for 12 years, and had several horses under her care. She appreciates my horse for his kindness, and saw to it that he would not end up in a situation that was detrimental to him. She also receives the industry's standard commission for her efforts, and I feel she deserves every cent of that.

He's been living well for the past 2 years with a trainer who knows her reputation is based on the appearance, reliability, and happiness of her horses. Some things have even changed for the better when I think about it (ie, he now goes out with a buddy, whereas he was in individual turnout before- I was wary of this at first, but see that he is much more content now). I am Facebook friends with both the trainer and the family leasing him, and they eagerly tag me in his pictures/videos. I love that he is doing what I "raised" him to do, and it absolutely tickles me to see myself in his "rental family" as he teaches them the ropes.

I toyed with the idea of selling him, but decided that's not an option for me. The lease I found is perfect because the trainer that has him respects him and cares for him in the most similar way possible to mine. She understands the clauses in the lease about "normal wear and tear", respects those regarding appropriate use, and knows what it takes to return him to me in the best condition possible based on those clauses. Anything else is covered by a GOOD, APPROVED BY ME insurance policy of which I am the beneficiary.

Enlist the help of a good, reputable trainer with whom you feel comfortable. They really DO exist, and the good ones will get this business done in a timely, tidy manner. Most of them rely on repeat customers and will work their hardest to make sure you return at the end of the lease.

rosebecard
Apr. 11, 2012, 11:18 PM
Hi Claudius,

You do have a beautiful horse. Maybe by next season you won't want to lease him out. He'll be more experienced, and maybe not so tiring to prepare. You are a lovely rider. I just don't want you to miss out on the fun of such a nice horse that you've brought along yourself. Maybe a friend or junior could help share the prep and showing/ fees so you could retain control and not have to do a formal lease.

Claudius
Apr. 12, 2012, 08:36 AM
The answers to my question have been an eye opener. I appreciate the favorable comments on my horse...I do love him and have worked hard with him. The reason I consider leasing him is that I am getting too damn old to do this down here. I can't imagine leaving him up north for the six months we are in Fla. ( DHs idea, not mine!) So down we come. It is so different from showing at home in Pa. It is more relaxed, less intense, and more fun at home. At this stage of my life, that suits me.

I have a three year old that I would love to bring down next year....to do the part that is still fun for me down here....and that is to ride over to the show grounds and acclimate him and do flat work, take some lessons, school in the twenty dollar ring with a borrowed number....no pressure, pure pleasure. In order to defray the $$$ of bringing down TWO horses.....I thought a three/four month lease might be possible. My horse still has to become "confirmed" .....or more thoroughly made up....and I will continue working on him with this as my goal. I really appreciate all this information from people who have leased in the past. It will make me very cautious in going foward. Thanks.

Florida Fan
Apr. 12, 2012, 10:55 AM
Hi Claudius,

You do have a beautiful horse. Maybe by next season you won't want to lease him out. He'll be more experienced, and maybe not so tiring to prepare. You are a lovely rider. I just don't want you to miss out on the fun of such a nice horse that you've brought along yourself. Maybe a friend or junior could help share the prep and showing/ fees so you could retain control and not have to do a formal lease.

A very good solution!!!

findeight
Apr. 12, 2012, 11:14 AM
Just so you know, 3 and 4 month leases for WEF with the horse already there are not only possible, they are quite popular and there is substantial demand for them. Even on one that needs a little more finish. Your is hardly dead green and has the miles proving he will get around.

I know you are not in this for financial reasons particularly but...a 3 or 4 month WEF lease on something decent that can get around well can be pretty lucrative.

It is also common for good riders with good trainers to come down for a few weeks and not bring a horse-because theirs either is not competitive on that level and/or they can't afford it. So there is also opportunity for shorter term leases, especially around Presidents Day, which is Junior weekend.

With this year still ahead of you and more mileage, you can present several nice options for a variety of riders next year that can be worked short or mid term and leave you with alot of control over time frame and use. I am old too so can say you can enjoy somebody else doing the grunt work prepping and getting him finished off for you-and getting paid for it instead of paying for it.

And you will do pretty well financially. Don't think yours is not good enough either-I know what others have short term leased and what they paid, you'll do alright.

Summit Springs Farm
Apr. 12, 2012, 02:41 PM
I would think you just let a pro know at WEF and he'll be leased no problem. A friend of mine leased a horse for $2k per weekend at HITS Ocala last season and had a blast on him.