Leasing
Leasing is a way to acquire a horse without actually owning it. Sometimes the current life circumstances of a horse's owner — pregnancy, health problems, temporary relocation for a job, a new job — make it impossible for the owner to give the horse the attention it needs.
A short-term lease is a good way for you to try out a horse before you consider buying him. If you are not in a position to buy a horse right now, a lease can make a lot of sense. Sometimes a free lease (one without a monthly charge) drops in your lap — for example, you are taking lessons at a barn, and someone tells you about a horse there that the owner never comes to see and is thinking about free leasing so the horse can get exercised.
Another logical reason for leasing is so you can trade up as your skills advance, especially if you compete. Say, for instance, you plan to learn dressage. If you spend the time and energy to get to the top levels of dressage competition, you will probably go through three or four horses on your way there. The horse that is laid back enough to be a beginner dressage horse may not have what it takes to be the Grand Prix candidate you want when your own skill level gets that advanced. If you have the space, you can collect these horses in your barn as you progress up the ranks. More likely, you will need to sell them and put the money toward your next prospect. However, if you lease a horse, you can simply give it back to the owner when you are ready to move on.
There are also shared leases, in which you lease a horse, probably at a riding stable, with someone else. You each are assigned specific days or even times that you can ride the horse. Typically, the stable owns such a horse and is responsible for all its care but uses partial leasing to cover a portion of the horse's upkeep. This is a reasonable way for boarding stables that keep a string of lesson horses to have the lesson horse pay its own way.
Be sure to sign a lease agreement, or at least a letter of agreement, outlining the following details of the arrangement, plus anything else that you can think of:
Who pays for maintenance items such as shoes and vaccinations?
Is there an end date? Leaving the lease open-ended is probably not a good idea. It is better to make the lease easy to renew by inserting a phrase that allows the lease to continue for the same period of time simply by having both parties sign new signatures on the existing lease.
Where can the horse be kept? What kind of shelter is sufficient? You may think a run-in shed with 24/7 turnout is perfect, but the owner may expect the horse to be in a box stall at night.
Can the horse be turned out with other horses?
Are you allowed to trailer the horse to a horse show or trail ride? Can the horse be trailered out of state? Can it be kept overnight?
What happens if the horse needs emergency veterinary care? Who makes decisions about that care, and who pays for it?
What happens if the horse dies while it is under your care? No one wants this to happen, but it certainly could and has.
If you are a parent buying your child's first horse or pony, follow all of the same advice given in this chapter. Don't mount your child with a horse beyond his abilities — even the most gentle horse is still a large and unintentionally dangerous animal.
