So, I’m a broke college student who owns a horse. Nice OTTB that I bought as an upper level prospect that has been restarted on the flat but college has kept me from going further. I have a friend who’s an experienced rider and we agreed to do a lease splitting cost, even though this would be a full lease on her part (I will not be riding the horse). Well, we’re struggling on finding a fair price point, and I’m struggling to keep paying for the horse. Right now, she’s thinking I should pay board and insurance (which is roughly $300-350/month depending on winter or summer) and she pays everything else, which currently comes to roughly $200/month + yearly shots/coggins (~$300/year), with the idea being that as the horse progresses, she will have to pay more for feed, chiro, etc. If I wasn’t so strapped on money, this would be fine with me, but my parents are helping me fork the cost since I don’t make enough to pay for the horse on my own, and they think it’s unfair for me to pay more for the next six months since I’m not even riding it. Can I get opinions on what I should do or what a fair price point would be? Is the arrangement listed above fair?
EDIT: If she does not lease the horse, I can send it home to my parents farm where it will sit until I graduate (approx. 2 years). She will be advancing the horse’s training, but in a different discipline (dressage vs. eventing)
2nd EDIT: Horse is not currently insured, but have talked to insurer (work for man who owns insurance agency) and he suggested insuring horse for $10-15k along with major medical
3rd EDIT: She approached me about riding horse since I had mentioned before my lack of time for riding, and if this works out well and she’s competing, I have said I would be okay with doing a long-term lease or possible lease-to-buy situation. But, as of this point, she says she only wants to lease the horse until she graduates.