Renting out your horse property requires careful thought. You need to take into account several factors, such as the facilities, horse shelter, fence, water system, and feed storage, among others. Also, you must know how to find the right tenants and how to lease your property fast.
To get the most out of your horse property real estate, we have listed the following things that you have to consider when you decide to rent it out:
1. Staging your horse property
To lease your horse property fast, you must prepare and make it look good and functional for the potential tenants. The first thing you need to do before renting your property is to prepare the essential elements the horse’s needs. Your horse property must have a water source, such as a well or installed water pipes. Be sure that you also have a cultivated pasture land for feeding the horses.
The potential tenants must also see that you have clean stalls equipped with lights and stall mats. You may disinfect the stalls to keep the horses safe and clean the arena and riding trails.
The manure must also be appropriately disposed of to a designated area or to some garden and forest products companies, which turn the manure into compost.
You must also fence each stall. Do not use barbed wires for fencing because these pose danger to horses. You may use wood or steel to enclose the booths.
2. Provide other amenities
To make your horse property appealing to potential tenants, you may provide additional facilities. These include expansive paddocks, a roping area with horse walker and chutes, a large tack room, wash rack, hayloft, and fenced pastures.
3. Add special features
Tenants will likely lease your horse property if they see something special in it. You may install a water system for each stall. You may also give them a supply of non toxic fly repellent or granulated clay product to remove moisture and bad smell. To monitor the horse activity, you may provide an intercom between the barn and the house.
4. Prepare the leasing contract
Before you decide to rent out your horse property, you must prepare your leasing contract that must be heeded by tenants. You must state what the tenants could do and not do on your property, which may include the number of horses required in your property, maintaining the pastures, repainting the fence, and repairing damages.
You must also state their responsibilities in taking care of the property. Be specific if they are responsible for cleaning the gutters, replacing the light bulbs or air filters, and scrubbing the water tubs. You may also include the equine liability disclaimer in your state.
5. Get enough rent to cover the additional cost
In case you are responsible for mowing, cleaning up, and edging the property regularly, you may add the expenses you have for these tasks to the rental fee.
6. Look for honest and reliable tenants
As much as possible, find tenants that are honest, reliable, and responsible to ensure that your property will not be damaged. A responsible tenant will also be prompt in paying rent.
Investing in horse property real estate offers many advantages with the right tenants.