In a full rental situation, the renter usually pays all the costs of the horse, including food, farrier and veterinary costs. Photo: Canstock/Cretien “The reason we did it was to see if Haley liked to take care of a horse and take responsibility. We weren`t sure how serious it was at first. That was the reason to rent before you made a big investment," Roberta explained. The horse`s medical expenses must also be taken into account. In most full leases, the tenant covers the costs of shoeing, deworming and veterinary bills for the duration of the lease. However, there is always a risk of accident, injury or illness of the horse during this period. Specify in advance who should be responsible for extraordinary expenses (p.B. emergency colic surgery) or ongoing veterinary expenses. It is often wise to invest in horse insurance. You may want to consider coverage, which not only includes death, but also covers significant medical costs such as colic surgery or “loss of use." It may be in the interest of the Lessor to require the Renter to take out insurance against the horse in order to make the payment in the event of lameness or death of the horse, whether this lameness or death occurred through the fault of the Tenant or as a result of an unrelated cause. The most obvious detail is the type of lease. Would you like to try a full lease or a partial lease (also called a half lease or stock board)? In a partial lease, more than one person can rent the horse at the same time (or you share the horse with the owner), so the riding days must be divided between the parties.
You may only be allowed to drive two to three times a week, but half of a lease is usually cheaper and less complex, and can work well for someone who doesn`t have serious competition. A written agreement Regardless of the reason you choose the lease, remember that the terms of these agreements may vary as well as the reasons for the lease. Whether you are the “owner" (the person who owns the horse) or the “tenant" (the person who rents the horse), it is important to clarify the terms of the lease with each other and then record the terms in writing. “Use is a very important provision in a lease," Fershtman says. “It`s also where the landlord has some control, at least in writing, over what happens during the term of the lease. In addition, she says, the owner can set restrictions on activities such as jumping, barrel racing and hiking. “Understand what rights you can give up and what risks you accept," Fershtman advises. To go further, the agreement can also be specific to veterinary treatment. Second, do not assume that a release is effective for an injured minor. A release signed by a person under the age of 18 is not valid.
Even if the parents sign for the child, there could be problems. Some States will not implement it and others will. The Armstrongs rented several horses of varying temperaments before Haley found a perfect fit for a thoroughbred named Zak. There are a variety of leases, including a full lease, half lease or partial lease. There may be other names for these leases because there is no correct “technical" term for the different types of leases. Have you ever wished you could cut your horse maintenance costs in half? Or maybe you dreamed that your horse could be trained more often throughout the week? There is a way to achieve both goals and keep your horse`s property. This is called a “half-lease". Once you have decided to put things in writing, there are still many issues that need to be discussed and understood by the parties involved. The “terms of a lease" should be discussed at length – and some of the things to consider can be complex. In the full rental situation, the tenant usually pays all the costs of the horse, such as food. B, animal feed, veterinary bills and farrier bills, in exchange for the fact that he can use the horse at any time if the tenant wishes. This situation most closely resembles the ownership of horses.
In general, a full lease does not limit the hours and days of riding or the uses for which the horse can be used, such as participation in equestrian shows. In addition to paying all the costs of the horse, the owner may require the payment of a rental fee. Rental fees can be calculated as a percentage of the total value of the horse. For example, if the rental fee is calculated at 25% of the value of the horse and the horse is worth $10,000, the rental fee is $2,500 per year. If you want to rent your horse halfway, use Julie Fershtman`s list as a basic model and starting point. Consider all of these provisions. McAbee, who has rented horses to many people throughout his career, does not allow jumps outside the classroom. It also has strict guidelines for care before and after the trip.
To ensure that her policies are enforced, she never lets her animals leave her property. Of course, if you don`t own a stable, you may not have the luxury of renting to someone in the same barn. So what should the treaty include? That`s where Julie and we come in. Thanks to their expertise, we will share four hypothetical scenarios to show the importance of certain provisions of the treaty. We will also go through all the points that each contract should contain in case you decide to write your own. (Note: This list is also useful if you have it written by a lawyer.) Flies appear every spring and summer, and while you have plenty of options for controlling parasites around your horse, experts agree that an integrated system works best. The person to whom the horse is rented (usually the owner of the horse) is called the “owner". The person who rents the horse is called the “tenant". Types of leases Horse leases are a common solution for families who want to find a horse that matches the size of the rider, or for young adults who are about to go to college and whose families don`t want to own a horse that they might need to sell in a short period of time.
In addition to the potentially lower transaction costs, the cost of renting is obviously lower than the cost of buying a horse. While not all emergencies or injuries can be accounted for in a contract, there are three ways to cover this in the agreement. To illustrate, let`s take the example of the horse that unexpectedly needed emergency colon surgery. In this situation, who is responsible for the costs associated with the operation? Does the horse have mortality insurance and/or extensive health insurance? If so, who covers the cost of insurance? Who has the power to decide whether to continue the operation or euthanize the horse? Can the tenant terminate the lease after the operation (so the horse owner will have to pay and feed all remaining veterinary bills while the horse recovers)? A rental agreement can be beneficial for everyone involved – horse, horse owner and tenant. In addition, the time and cost required to create a full lease is minimal and for the financial and emotional well-being of all parties involved, it is worth being certain. The second thing to consider is the duration of the lease. Are you planning to enter into a relatively simple “monthly agreement" or are you planning to rent a horse for a full year or more? It`s up to you and the owner to determine this. .