Every year thousands of little boys and girls ask Santa for a horse for Christmas. And while it’s a lovely and expensive gift, many of those horses are sold a few months later. If you are new to the horse world, owning a horse is not the first thing you want to do. The care and commitment it takes to own a horse is huge, and most are not ready when just beginning lessons. However, there is another option and that is leasing a horse much like you can lease a car instead of buying one.
What Does it Mean to Lease a Horse?
Instead of purchasing the horse outright, you pay the horse’s owner an agreed upon fee per month or per year for access to the horse. Every lease agreement will be different. Make sure your lease agreement is detailed and in writing. Usually there are three types of horse leases: a full lease, half lease and free lease.
When you full lease a horse, you pay an agreed upon fee for exclusive access to the horse. This means you are the only one riding the horse. It will not be used for lessons, and the owner will not ride it. You will be responsible for making sure the horse receives the attention and exercise it deserves. Often a full lease also comes with the additional costs of board, veterinary expenses, and shoeing expenses. It is much the same as owning the horse yourself.
When you half lease a horse, you still pay an agreed upon fee for access to the horse, but you are not the only one riding him/her. The horse can still be used in a lesson program if that is the situation. The owner can still ride the horse themselves. With a half lease, either the owner is responsible for board/vet/farrier bills, or you pay a certain percentage of those expenses.
When you free lease a horse, either at the stable or “off farm,” you don’t have to pay for access to the horse. However, you will usually be responsible for the board and certain expenses. Free leases are often an option offered by horse owners who can’t afford to maintain the horse but do not want to lose control over its future. It’s a great way for the owner to make sure their horse is taken care of while also lessening the financial burden of horse ownership.
Horse for the Present
Depending on where you are as a rider, the horse you need for your current skill level will be different than the horse you need 2-3 years from now. This is especially true if your child is riding. Not only will their skills grow but so will their bodies. The 13hh pony that is perfect for them now will not be a good match when your child is taller and heavier. Leasing a horse lets you ride a horse that is a good match for you now and alleviates the burden of needing to sell the horse once you have outgrown it and need something larger or more advanced.
Finances
The cost of lease is typically 1/3-1/2 of value but can be much less than the cost of purchasing a comparable animal. Only one commission is paid to a trainer at the onset of a lease. Buying and selling a horse has two commissions. One at purchase and again at sale. Leases cost a fixed amount. If you buy a horse and then sell it when it no longer fits your needs, the horse may not sell for its purchase price. In a worst case scenario, it may never sell but will continue to accrue board and vet bills.
Resale Issue
The perfect animal with vetting issues or advancing age may make resale harder in a year or two which is not an issue when leasing. With a lease, there are no retirement or end-of-life issues with which to contend. The agreement should be written to protect the Lessee and the Lessor in case of injury. Typically, the Lessee’s responsibility terminates at the end of the no lease period or if the horse becomes sick or unsound.
The Unicorn
Leasing often allows riders of all levels to get a better quality horse than they might buy. Horse owners don’t usually sell their best or most promising horses but do lease them out when they don’t have time for them or need some extra income.
Where to Find Horses to Lease?
If you decide leasing is the right choice for you or your family, talk to your stable manager or trainer about the option of leasing a horse on-site. Check out other local stables near you, riding clubs, and tack shops. Make sure to thoroughly check out the horse owner’s reputation.
Based on my own experience, I would recommend leasing before becoming a full time horse owner. You are still able to take the leased horse to shows or clinics. If you have a full lease, you would be the only one riding the horse, so the horse is practically like your own but without the added costs that owning a horse incurs. With a bit of legwork and some luck, you will find a horse that meets your needs and be on your way to a great partnership!
