| >With a lease does the owner typically get $$$ as well or does the leasee
>just pick up all costs and expenses?
Depends on the terms of the lease. READ YOUR LEASE CAREFULLY.
>Do leases generally include a purchase option?
Not all leased horses are for sale. Many are leased simply
because the owner does not have the time to devote to the horse,
although there may be a clause (again, each lease is different)
that specifies that if the horse becomes unusable due to the
negligence of the lessor, that some remuneration may be required.
>If you put training on a leased horse, do you figure that's an
>out-of-pocket expense if the lease is terminated and the horse returned to
>the owner?
Any time you get on a horse, you are training it. If you, for example,
pay for lessons, that as a result add to the leased horse knowledge
base, then, in my opinion, those are out of pocket (since you, the
lessor, probably also benefitted). Again, your lease *may* have
a clause in it regarding this, if it is pre-agreed. If you (the
lessor) are intending to send the horse out for training, that should
be negotiated, since the owner may want some say in the matter,
especially if someone else will be riding the horse (for insurance
reasons, I would not want anyone other than designated individuals
to ride any horse that I leased to someone.)
What's the difference (and advantages/disadvantages) between a lease and a
purchase?
There are pros and cons to each. A lot depends on your personal
situation.
Purchase
1) You own the horse and are solely responsible for it's maintenance.
2) You have 'first dibs' on the horse, i.e. you are the person
responsible for it's exercise. You can probably ride whenever
your schedule allows.
3) If you relocate to a 'distant' location, you need to decide what
to do with the horse. Do you sell it? Do you move it with you?
4) If your horse becomes unusable, you are still responsible for it.
5) If you don't like where you keep the horse, you can move it.
Lease
0) READ THE LEASE CAREFULLY AND UNDERSTAND ALL THE IMPLICATIONS THEREIN.
There is no standard lease agreement. You need to know what happens
if the horse becomes unusable and what exactly you will be
responsible for financially.
1) Even if you are the resopnsible for all the horse's expenses, you
are not the *only* one responsible for it's care (my opinion, but
read your lease)
2) Who can ride the horse, and when (read your lease). If it's a
partial lease, do you need to schedule your riding time? What if
your schedule changes and you can't ride on 'your days' for a week
or two, or more. You're still responsible for your lease.
3) If you relocate to a 'distant' location, you don't have a large
animal to do something with.
4) You can end the lease and no longer be responsible for the horse.
(read your lease for 'early' termination terms.
5) If the owner wants the horse back (or moves and takes the horse with
them), you have to look for anither situation.
6) If you don't like the way the horse is kept, you may or may not have
a say in changing the situation.
7) READ THE LEASE CAREFULLY AND UNDERSTAND ALL THE IMPLICATIONS THEREIN.
You don't mention whether this is a full lease or a partial lease, pre-purchase
lease or what. There are other notes in this conference discussing leasing.
Read them. They will give you insights into the common concerns.
A big question to ask yourself is 'How much am I willing to invest in a horse'.
Leasing can drain or draw to a halt any saving you may be doing towards a
purchase. Are you willing to do that? The most expensive part of horses is
maintenance. Are you into maintaining someone elses horse for them? How much
time do you have to devote to this creature? How much emotion will you invest
in this creature - is it emotionally worth knowing that you own it?
These are just some thoughts off the top of my head. I'm sure there are others
who can add...
kathy
|
| For a first-timer, leasing can be an excellent option (assuming the
lease terms are clear and acceptable to both parties). It allows
you to decided if ownership is a step you want to take. IMO, ownership
involves a good deal more responsiblity, and permanent commitment. A
horse is not a car, a toy, or a showpiece, but a living animal with
a lot of needs. If you are unsure whether or not you are willing/able
to fill each and every one of those needs, consider leasing prior to
actually purchasing. It's also a good way to determine it a particular
horse is suitable for you and your planned activities prior to making
a purchase committment (in a lease-w/buy-option situation). It is much
easier to return a horse to it's owner than to have to spend time and
effort selling a horse you bought and later decided was unsuitable or
more work/responsibility than you were prepared for.
Good luck whatever you decide to do!
|
|
Hello,
I agree with Kathie. Go ahead and have fun.
We had a pony on Loan for 8 months with a view to buying. We took on
the responsibility for all his expenses, innoculations, shoeing, feed
etc,. We took him in the November and agreed to give the owner an
answer about buying him in the Spring (as first time owners we wanted
to know if we could cope a winter). We called the owner in the
February and told her we wanted to buy him. She was in no hurry to be
paid and agreed the load could continue until the summer, then we paid
for him + tack.
She visited us regulary to check on his condition and how he was
progressing.
I thought this was an unusual arrangement and that we were lucky to have
met someone willing to do it, but, on talking to other horse/pony
owners/loaners this is not so unusual in my area.
Most of the folks who do it are those who are short of grazing in
winter and know that they are waiting to sell in the Spring....If they
can loan out the pony and guarantee it's good condition throughout the
winter then the pony should be looking good for the Spring Sales and
most times the loaners have got to know the pony (if it has faults
etc,) whether it is a good buy or not and nine times out of ten the
loaners purchase the pony/horse.
As Kathie says each arrangement is different, but for me I think the
owners are more concerned that their beast has a good home and not
looking for money, afterall it is saving the owner money while the
animal is out on loan. A friend of mine has 4 ponies out on loan and
she has two on loan from another person. She does it because she can't
bear to part with them and at least if something goes wrong she can
bring the animal back ro keep track of it.
God for it
Sandra
|