Equestrian Facility Lease Agreement

Leasing an equestrian facility can be an exciting opportunity for both the landlord and tenant. However, before signing any agreements, it’s important to ensure both parties are protected and fully understand their obligations. This is where a well-written equestrian facility lease agreement comes in.

What is an Equestrian Facility Lease Agreement?

An equestrian facility lease agreement is a legal document that outlines the terms and conditions between a landlord and tenant for the rental of an equestrian property. This agreement protects both parties, sets expectations and provides a clear understanding of the rights and responsibilities of each party.

Key Terms to Include in an Equestrian Facility Lease Agreement

1. Rent: Clearly state the amount of rent due each month, when it’s due and how it can be paid. Also, include any penalties or fees for late payments.

2. Duration: Specify the length of the lease, including the start and end dates. Additionally, include options for renewal or early termination.

3. Maintenance: Specify who is responsible for maintaining the property, including upkeep of the barn, pastures, fencing and any other structures. Outline how any repairs or maintenance issues should be reported and handled.

4. Use of Property: State the permitted uses of the property, such as boarding horses, riding lessons, training, etc. Also, include any restrictions on the use of the property, such as limitations on the number of horses or dogs allowed.

5. Insurance: Specify who is responsible for insuring the property, horses, equipment, and liability. Clearly state the required minimum insurance coverage each party is required to carry.

6. Utilities: Clearly state who is responsible for paying for utilities, such as electricity, water, and waste disposal.

7. Security Deposit: Specify the amount of the security deposit required and any conditions for its return, such as damage to the property.

Why is an Equestrian Facility Lease Agreement Important?

Having a well-written equestrian facility lease agreement is important for multiple reasons. First, it protects both parties. The landlord is protected from any damage caused by the tenant’s horses or equipment. The tenant is protected from any false claims made by the landlord. Second, it sets expectations and provides a clear understanding of the rights and responsibilities of each party. This minimizes any misunderstandings. Lastly, it is a legal document that can be enforced in court if necessary.

Conclusion

Overall, an equestrian facility lease agreement is an important tool for both landlords and tenants. It protects both parties, sets expectations and provides a clear understanding of the rights and responsibilities of each party. By including key terms such as rent, duration, maintenance, use of property, insurance, utilities, and a security deposit, both parties can feel confident in their lease agreement and focus on enjoying the equestrian lifestyle.