Pro's and Cons of loaning out my horse

[Stacey_xo]

So due to unforseen financial issues I may have to full/part loan my horse out temporarily until I'm back on my feet again. I will not consider selling him as I can still afford to keep him without loaning him out at all, but I feel that loaning him out at least partly will help me a great deal, but I've never done it before.

Please share your experiences with loaning your horses out, exactly what I should do prior to loaning him out, the differences between part and full loan in terms of money and what the loaner pays (I know some loanees only charge for shoes and feed), and any extra pro's and cons. Thank you!

 

[chaps89]

Full loan is where the loaner takes full responsibility for the care and costs of the horse.
Part loan is down to the owners individual requirements. Some ask for a financial contribution as that's what they need most, others need more help with time doing jobs or riding. Financial contribution again seems to vary dependant on set up, but £10-20 per day/ride seems average. Or it might be as you've seen, cost of shoes etc.
It's not usually an equal share of the costs with the owner, as usually the owner maintains control, has final decision over what the horse can be used for, tack, responsibility for feed etc.
BHS should have template agreements and it's probably an idea to request a sharer has their own rider insurance too.

 

[ILuvCowparsely]

So due to unforseen financial issues I may have to full/part loan my horse out temporarily until I'm back on my feet again. I will not consider selling him as I can still afford to keep him without loaning him out at all, but I feel that loaning him out at least partly will help me a great deal, but I've never done it before.

Please share your experiences with loaning your horses out, exactly what I should do prior to loaning him out, the differences between part and full loan in terms of money and what the loaner pays (I know some loanees only charge for shoes and feed), and any extra pro's and cons. Thank you!

I personally would not full loan, too many disappear on full loan. Unless you full loan where you are and make sure Yard owner knows he may not leave the yard without prior knowledge for you, and also I would make him freezemarked

 

[OrangeAndLemon]

I have a sharer (part loan).

I have to say it's been great. It's someone I knew from a previous yard and he'd ridden my horse before. He is the opposite type of rider from me which is great for the horse. He's the perfect fit for me and my horse. Some days I miss seeing my pony when it's the sharers day but I know both are out having fun. At this time of year it's a godsend as pony doesn't want to be in his field so the extra work he gets really helps keep him happy and healthy.

During the lockdown it's been good for the sharer too as it's meant he could keep riding when his riding school closed to customers.

 

[Stacey_xo]

I personally would not full loan, too many disappear on full loan. Unless you full loan where you are and make sure Yard owner knows he may not leave the yard without prior knowledge for you, and also I would make him freezemarked

He’d have to stay at his current yard, I definitely wouldn’t allow him to move! And he’s microchipped anyway so freeze marking wouldn’t be necessary. ?

 

[SaddlePsych'D]

From sharer perspective: I pay £10 per day for my share plus do jobs - muck out, poo pick, hay nets, water then obviously bringing in, groom, tack up and rugs if I'm riding which I usually am. If it's more about finance for you than needing the jobs done then you could ask more as others may find it harder to commit to the jobs but be happy to pay more for the riding. To be honest my share agreement is fairly casual and we arrange things week to week in terms of days (we've not got anything in writing but if it were a full loan the definitely I'd be wanting a proper written agreement) but I usually do 2 or 3 days per week.

 

[Not_so_brave_anymore]

I think £10 per day plus doing the jobs, or £20 per day without having to do jobs is about fair (based on a riding school hack costing £25 an hour round here)

 

[Not_so_brave_anymore]

Oh, to answer the actual question! It sounds like what you really want is a sharer (part loan). It doesn't sound like you want to essentially sign the horse away to someone else for a year (full loan).

Part loan can be whatever you want it to be. A proper fixed-term contract detailing exactly what they pay and what they do, or a much less formal arrangement where you just let someone pay-per-ride. Or mostly likely something in between (any sharers I've ever had or done have started very informal, just paying for a few rides, and then progressed to a regular agreement if it's a good fit. Fwiw I wouldn't sign a 6/12 month contract for a part loan- seeing as you're effectively working closely with them, I'd want to know i could terminate the agreement without notice if I wanted)

 

[brighteyes]

Loaning - trickier if you (do or don't) ever want them back!

 

[Equi]

What sort is your horse? I think certain types are easier to loan/part loan than others. I would very much want to partloan firstly to see how it goes if you don't -need- to have him away for a while..if the loanee turns out to be good and wants the full loan for a bit that can be discussed later. I put my boy up for part loan and the horrors i had apply for him put me off it though lol

 

[MiJodsR2BlinkinTite]

I've been both a loaner, and a loanee.

Key words: COMMUNICATION, TRUST, TRANSPARENCY.

Vital for loaner and loanee to talk regularly - at least once a week, more in the early days of the loan and/or if there are problems.

There needs to be mutual trust on both sides: that means that loanee consults with owner about things like saddle fitting, choice of vets/farriers, activities, not just steam ahead and change everything all at once! (and then wonder why things go wrong!) The owner needs to be asked their opinion, and kept in the frame.

Important for everyone to be open and honest: if it becomes apparent the horse isn't suitable for the loanee, better to go back to the owner and say look this isn't working out. Owner might have some suggestions about stuff to try, e.g. what's worked for them. When taking on the horse, loanee needs to be honest about their level of experience and what sort of horse they are looking for.

 

[Bernster]

Good post above.

Loans are more like loaner takes pretty much all or most of the cost and responsibility. Shares are what I’d call a part loan, with someone riding some of the time and sharing the cost or paying a contribution.

Have done both, generally successfully - works best when both people have a similar outlook. For a loan, def use a loan agreement like the bhs one - helps to highlight the things that need to be agreed and sorted up front.

 

[myheartinahoofbeat]

I loaned a horse out for 3 years. I didn't want to sell him because he was 15 and had Cushing's so I felt a responsibility to keep him but I wanted to compete and couldn't because of his Cushing's. He was a great hack and enjoyed pleasure rides etc. so I found a non competitive home for him as long as his Cushing's was properly managed he could have a few more years before retirement. I found someone by word of mouth and was so lucky and can honestly say it was a complete success.I was worried about doing it as I had heard horror stories ( a lot of them on here) but when I met the lady and she saw my horse we all got on. I got references, all fantastic.I printed off the BHS loan agreement and used that, renewing it every year. For the first year I also paid for his Cushings medication as I felt it was a lot to take on.I was in regular contact with her and she kept him on a yard where I was friends with the yard manager so it was easy to find out how he was. I only got him back because we moved to a house with land and so he is now able to live with me.I felt so guilty asking for him back as I knew how much she loved him.

 

[Henry02]

I personally would not full loan, too many disappear on full loan. Unless you full loan where you are and make sure Yard owner knows he may not leave the yard without prior knowledge for you, and also I would make him freezemarked

or come back broken

 

[Stacey_xo]

Thank you all for your input, I’ve decided that a sharer is probably best as I’d still want to be able to ride him, he’s a 10 year old OTTB and is such a quiet boy so I’m fairly certain it won’t be hard to find somebody, he’d also stay at his current yard where the facilities are honestly amazing so definitely a plus for anybody wanting to take him on!

So another question I have is how I’d go about vetting somebody? If they’ve never loaned before I’m guessing I could just speak to their instructor regarding their ability and experience?

 

[Christmascinnamoncookie]

Can you speak to your yo to see if they know anyone? I was extremely fortunate to find a sharer on my yard so I knew/trusted her, but omg, some of the people I interviewed before finding her were shocking.

Despite saying no novices (he’s very forward and can be spooky), I had a novice turn up, in flip flops. I had another, perfect, but made demands ie no-one to ride him for free while she was paying. My horse, if I choose to let a friend to ride, I won’t be asking permission!

 

[SaddlePsych'D]

I think sent some videos of me riding in addition to the photos I'd put in my wanted ad. The owner and I had a good chat on the phone before meeting, and agreed to do a couple of weeks to see how we got on. I wouldn't have minded getting a reference from my riding instructor as well if it was asked for. ? I also showed proof of my having BHS Gold membership for the insurance.