I am considering allowing someone to lease my horse for Wellington and am clueless about the protocol so I have questions/need some advice!
Does regular insurance cover long distance travel like that?
What is a price range to charge? Horse is a very competitive, attractive, well schooled, very reliable, jr/ao jumper and would be gone from mid december-april.
What else should I know/do i need to do to prepare him?
Not sure what you ought to charge because there are so many variables that influence the cost of a lease. How well do you know these people? If you do not know them well things need to be tight. Horses have been known to disappear and owners have been unable to retrieve them. Tread with extreme caution would be my advise and have a super tight contract. Have a tight contract any way.....it saves a lot of heart ache.
Last edited by Treasmare2; Nov. 8, 2012 at 05:31 PM.
For normal leases the guidelines are 30% of the horse's value for a year long lease.
I don't have any experience with the Wellington circuit, so I couldn't say whether a lease fee would be prorated from the yearly fee or not. However, I wouldn't want to lease my horse out for that length of time if were going to be that far from home.
The only reason I might suggest going forward is if you need the money or if you are trying to sell the horse and think a positive show record would help increase its value. There are too many potential risks involved. I had a friend who leased out her event horse (who had been to AEC and pony club nationals) and it got sent back lame. The person leasing the horse had run its heels down. I saw them myself and was disgusted by the condition the horse came back in.
This is one case where you need to consult your trainer or pay one with WEF experience to guide you here. And maybe consult an attorney on contract law before shipping way out of state for that many months.
If he is going for 4 months, a 4 month lease makes more sense then weekly/per show. Usually, that is more then 25% of the standard 30% of market value for a 12 month lease as they are leasing a made show horse for a particular show or circuit.
Insurance normally covers out of state shows BUT under your care, not your leassor-you both need to talk to your agent. And leassor pays for it duringt the lease term.
Price...well...around 10k I should think? Just a guess but they go 1k by the week for decent and many times that for a star. 4 months for 10k with a 4 month contract seems ballpark to me. maybe more of he has good recent results.
Last edited by findeight; Nov. 10, 2012 at 10:05 AM.
When opportunity knocks it's wearing overalls and looks like work.
I have personally seen free leases, just cover expenses to leases in the 125,000 range for circuit! Depends on what you are leasing and to who you are leasing to. Definitely have a well spelled out contract and insurance.
I'm looking for a horse to lease for WEF, and most of the competitive Jr. jumpers I have inquired on have been about $30,000 for the season. You need a detailed contract and want a reliable trainer to be training the kid on your horse!
I have seen seasonal leases for competitive jr/A/O horses go for between $25K-45K depending on the usual factors (how competitive, how easy to ride, etc.) There are also many less expensive situations - for instance, where the owner wants the horse marketed for sale, and offers an expenses only lease or something along those lines. You definitely need a firm contract, including insurance coverage, and I'd advise you to have a professional involved who can supervise the arrangement.
I agree with the above price suggestions. WEF is a big circuit, the most competetive H/J circuit for the winter and your horse sounds to be quite nice and could be quite competetive there. With that being said; I had a free lease situation where we were required to pay and hold insurance on the show horse to the owner's standards and show proof of it. Insurance should be paid up and ready to go before that horse leaves for the circuit and should last the duration of that lease. Proof of insurance and it's details would be needed. A lengthy, detailed contract is necessary. It should include everything from veterinary care, suppliments you're feeding, feeding, turnout time, tack (bit, saddle, boots, etc) that are required when riding the horse, shoes, etc and anything you want EXCLUDED from use on your horse (tack, drugs, etc). You are the owner and you want your show horse cared for the way you'd expect. Use some of the lease funds to pay a few visits to see the horse and watch him go while he's out on lease.