Owning a horse property can be very rewarding, but it isn’t for everyone. One of the biggest problems that you may face is low horse property income. Property values have continued to increase and everyday equine management expenses are always on the rise. Here are a few money making and saving ideas for horse property owners. Also, if you are looking for a horse property for sale in Colorado, contact Colorado Horse Property today and speak with one of our horse-person realtors.
Horse Property Income
Did you know that you can share the costs of keeping a horse by part-leasing them to a suitable rider? This is a great opportunity for riders who can’t afford to buy a horse. In these types of relationships, it’s best to keep a written agreement detailing the lease. Also, include what you expect them to take care of and pay for while they’re in possession of the horse. If you don’t like that idea, you can always board someone else’s horse on your property for a fee. Create a boarding agreement in writing to make sure you’re on the same page as your boarder.
Do you have extra space in your barn? Is there an unused outbuilding on your property? Clinicians, instructors, and event organizers need facilities to conduct both riding and non-riding educational activities. Many of them rent spare spaces on horse properties to conduct business. Depending on the instructor, you could rent out your free space and possibly gain some free instruction at the same time. Another way to increase your income is by holding fee-based fun, educational, or competitive events on your property.