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  1. #1
    Join Date
    Apr. 26, 2008
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    309

    Default Can we talk abot Half-Lease terms?

    I have a nice oldenburg gelding thats been showing hunters at rated shows. VERY quiet and easy easy easy. I'm looking to half lease him to a short/long stirrup or pre-child kid. He is a nice gelding and is always in the ribbons, especially over fences. Very safe, etc. etc. But what type of terms would I ask for half-lease wise? Half his expenses obviously - but what about extra? I was told that 1/3 of his sale cost would be added on? That seems like a lot... we're talking over $10,000. That seems outrageous. Do people actually pay that? I just need some direction. This will be in the ATL area for the hunters.



  2. #2
    Join Date
    Jan. 30, 2009
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    1,270

    Default

    The 1/3 sales price is for a full lease. Usually a full off-site lease.

    Half leases are MUCH more fluid. You can write them up to be anything you want them to be. Half expenses plus something extra is probably the norm. It's easier to just set a price that encompasses all the expenses and have them pay that, rather than trying to track them down for half of this bill and half of that bill...

    I half leased my horse to an in-barn lady for $300 a month. It was on the low side, but it was enough to help me out and since I got the "good" days and I took him to horse shows once a month, which cut into her riding time, it worked for us. She lessoned once a week and hacked two more times a week.

    The same horse I did a full off site lease on for 1/3 his value.



  3. #3
    Join Date
    May. 10, 2005
    Location
    Philadelphia area
    Posts
    656

    Default

    1/3 of his sale price is only typical in a full lease scenario.

    As for 1/2 leases - I typically see free half leases - no expenses paid other than 1/2 board, routine vet and farrier (pay your own lesson and show fees). I have also seen 1/2 leases that do charge an extra amount per month for fancier horses. In my experience, it's no more than $100 extra a month. I guess that can change depending on your area. It is also possible to estimate 1/2 vet, farrier and board plus an extra amount and say that's the 1/2 lease fee for your horse. If vet or farrier are more that month, it's on you. If they are less that month, you get to pocket the "extra."

    As always, it comes down to what someone is willing to pay.

    Are you at a boarding barn with a trainer? Probably a good idea to ask trainer what is typical in your barn if so.



  4. #4
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    Jan. 30, 2009
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    Default

    Adding more -- a half lease is usually beneficial to the owner. The owner wants to keep riding and/or showing but wants help with expenses. Because it's helping you out, and by its very nature it's less flexible as far as days the other person can ride, you can expect less than 1/2 the price of a 1/3 price full lease.



  5. #5
    Join Date
    Nov. 13, 2004
    Location
    City of delusion in the state of total denial
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    8,509

    Default

    My guy is currently part-leased to a novice adult and it sounds like what he is doing is similar to your guy.

    Lessee pays half of: board, farrier, routine vet (shots, coggins, scheduled maintenance,) supplements, insurance. Show expenses are her own. She rides 3 days a week (he has a 6-day schedule) and pays for extra rides.
    "I'm not always sarcastic. Sometimes I'm asleep."
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  6. #6
    Join Date
    Apr. 26, 2008
    Posts
    309

    Default

    Renn/aissance: Okay thats about what I was thinking

    Thanks so much for the input everyone. Very helpful. Also, half-lease agreements are pretty similar to full lease agreements? Except for the obvious making it clear how many days a week are permitted, etc. correct?



  7. #7
    Join Date
    Apr. 26, 2008
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    309

    Default

    Also, as far as injuries go how does that work? All those costs are split regardless who was riding/with the horse?



  8. #8
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    Jan. 30, 2009
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    Default

    Quote Originally Posted by RockingN View Post
    Renn/aissance: Okay thats about what I was thinking

    Thanks so much for the input everyone. Very helpful. Also, half-lease agreements are pretty similar to full lease agreements? Except for the obvious making it clear how many days a week are permitted, etc. correct?
    Depends on how you want your half lease to be structured. You can make it similar to a full lease agreement, or it can be a much simpler document. My full lease is like 10 pages long. My half lease was like a page and a half.

    Quote Originally Posted by RockingN View Post
    Also, as far as injuries go how does that work? All those costs are split regardless who was riding/with the horse?
    It's however you want to write it out to be. In my case, the lady paid me $300 a bucks a month and I paid for everything else. If he were long-term lame, she would have been able to stop paying me. If he were off for a few days she just didn't get to ride and didn't get any money back.

    But it can be anything you want it to be. Or at least, it can be anything that you want it to be -- that the other party will sign willingly!



  9. #9
    Join Date
    Jun. 12, 2007
    Location
    Westchester County, NY
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    Default

    The terms can be anything you want them to be, assuming the lessee agrees.

    However, most half-leases I've seen say that the lessee only has to pay for non-routine vet care if the lessee was negligent/reckless in causing the injury (i.e. if lessee puts polo wrap on wrong, it comes loose and trips horse while she's riding, then she is responsible for the vet bills resulting from that). All injuries/emergency vet visits that can't be directly linked to the lessee are solely the responsibility of the owner.

    As to time off in case of lameness, I've seen a lot of half-leases that are month to month, with no refunds. So, if Jane pays her July lease fee on July 1st, and Pookie goes lame on the 10th, Jane does not get a refund for the 20 days she can't ride, but she does not have to renew the lease for the next month. So, the most Jane can be 'out' is one month, if Pookie goes lame immediately after she pays on the 1st of the month.



  10. #10
    Join Date
    Sep. 19, 2004
    Location
    Livonia/A2, MI
    Posts
    99

    Default

    I pay a flat fee for my half lease, which is 3 days a week. It's probably more than half her costs, but she is owned by my trainer, who has to make sure her horses are carrying themselves. So in exchange for my lease fee, my trainer gets to keep a nice lesson horse, and I get to ride a horse 3'+. It does work out to be less than 1/3 of her value, and it's win-win.

    Pony has insurance, and I'm not expected to pay for vet bills. However, if she becomes long-term lame, I owe my trainer 30 days notice before ending the lease, which I think is fair. My last lease was prone to throwing shoes, but I just had to eat those days off, no make ups.

    I feel really lucky to have the situation I do, and would jump at the chance to do it again - even if I'm paying more than half the costs, it's cheaper than buying + upkeep.



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