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Please share your experiences when it comes to termination of a lease...

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  • Please share your experiences when it comes to termination of a lease...

    I am just looking for some ideas as to how you handle a lease termination, from both sides.

    As an owner who has leased a horse, what is in your contract for termination? If the lessee decides to end the lease early (for non medical related reasons) what are your terms, if any? what sort of notice and/or payment do you require? Does that change if the lease is "free lease" vs a paid one?

    As a lessee what do you expect when it comes to terminating the lease early? Other than medical reasons (for yourself or the horse)...would you ever term a lease early? Again, does it matter to you if the lease is a paid or free one in terms of terminating it early?

    I need to beef up my lease contract a little and I have never had an issue with a lessee terminating or wanting to, terminate a lease earyl, until now...and of course my clause is very vague.
    Never Ride Faster Than Your Guardian Angel Can Fly
    Way Back Texas~04/20/90-09/17/08
    Green Alligator "Captain"

  • #2
    I have a pretty strict contract.

    On my end (owner), I can terminate the lease, immediately, at any point, if the animal is not being properly cared for.

    Otherwise, we both owe each other 30 day's notice. I just got word that my lease mule is returning to me, and while I am picking him up before the 30 days is up, having no room for him at the inn it was comforting knowing that I had that 30 days.

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    • #3
      I have only leased out my horse once. I was studying abroad and wanted her to be exercised/loved while I was away for 6 months, but also help pay her expensive board. Well, although the horse and rider were a great fit in the beginning, they started having some training and behavioral issues while I was away. About 3 months into the lease she determined she would not be able to lease the horse for the entire 6 months I was away. I had put in the lease contract that she would be required to give 30 days notice, and that is what I stuck with. She didn't really ride my horse the last month or so of the lease, but my horse still got groomed and loved. She understood that she would be required to pay it and did not make a fuss or get upset.

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      • Original Poster

        #4
        OK, makes sense. I have a 30 day termination notice in mine as well.

        Here is a question...with paid leases where they pay for say a year up front...but after 6 months they decide or determine the horse isnt a great fit, whatever, and want to terminate...do they forfit the remainder or the lease fee, or do you return it? OR, if its a free lease...would you expect them to pay any sort of penalty for terminating early...like 1 months board or something once the horse is returned?
        Never Ride Faster Than Your Guardian Angel Can Fly
        Way Back Texas~04/20/90-09/17/08
        Green Alligator "Captain"

        Comment


        • #5
          Originally posted by relocatedTXjumpr View Post
          OK, makes sense. I have a 30 day termination notice in mine as well.

          Here is a question...with paid leases where they pay for say a year up front...but after 6 months they decide or determine the horse isnt a great fit, whatever, and want to terminate...do they forfit the remainder or the lease fee, or do you return it? OR, if its a free lease...would you expect them to pay any sort of penalty for terminating early...like 1 months board or something once the horse is returned?
          You can put whatever you want in your contract, doesn't mean that anyone is going to sign it.

          For the free lease, which often really benefits both parties equally, I'd say no to the penalty fee...use that whole 30 days as their "penalty" period. Feel free to toss in that returning the horse is on them.

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