Horse Lease Contract -
Why different from a Loan?
The main difference between a Horse Lease Contract and a Loan Arrangement is that a fee is usually payable for leasing a horse whereas a Loan does not generally require a fee to be paid.
Typically, the fee is set at a regular monthly amount to cover the use of the horse and any expenditure such as competition or breed society membership fees and horse insurance costs.
The higher the value of the horse, the greater the cost of the lease will be.
You can expect to pay for some or all of the following on top of the lease cost, depending on the arrangement you have with the owner.
- shoeing
- vets bills
- feeding
- bedding
- other routine expenditure such as worming, insurance, saddlery repairs etc
Always, always read the small print to ensure you know what costs you are responsible for and what the owner will continue to pay once the lease is in place.
Benefits for the Owner
The owner may want the horse to be schooled-on professionally or compete at a level greater than the owner's personal ability or finances will permit.
Therefore, he is leased to a carefully selected home in order to advance his training and enable him to compete at a higher level.
In other cases, leases are offered by organisations who school their own horses and then offer them to suitably vetted and knowledgeable homes. This enables a rider to take on a horse that has already been proven as suitable for first time owners but without the capital expenditure of actually buying the horse. If you are considering such an organisation, make sure they reputable, can provide references and a Horse Lease Contract is drawn up prior to handing over any money. You should always read the paperwork carefully and make sure all payment arrangements and your responsibilities towards the horse are clearly understood. Horses on lease are usually advertised in Equine Journals or websites that have a Horse Classifieds section.
What if I don't want to compete?
If you are not currently riding at competitive level, a horse loan might be a more suitable option for you. Horses are frequently put on loan because the owner can no longer give them the time they need. The owner's wish is that the horse is given regular ridden work which can be accomplished through a mixture of schooling and hacking. This suits many leisure riders who perhaps do not have the inclination to compete but still want to ride regularly for pleasure. Why not look at our
Alternatives to Horse Ownership
for more information on other options available to you.
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