Keeping horses is an expensive undertaking. Many people take on boarders or rent out spaces in their barns to help cover the costs. There are some things you should take into consideration before you decide whether or not this is a good option for you.
Your Liability Increases
While other people’s horses aren’t necessarily any more likely to get hurt or cause an injury than your, your liability can increase if you add to your barn. Most homeowner’s insurance policies will not cover equine activities, so be sure to look at horse insurance cost and figure that into your calculations.
You Will Need To Be On-Call 24/7
You can say goodbye to spontaneous vacations when you have boarded horses at your barn. Sure, you may be able to arrange for someone to keep an eye on the place when you do go away, but it will require a lot of planning and an added expense. You will also need to accommodate having others coming and going from your property throughout the day. This means less privacy and can make planning family get-togethers or parties a bit more difficult.
Feed Prices Can Fluctuate
If you are planning to include the cost of feed into your board prices, you will need to plan for both good and bad years. Hay prices vary for a lot of reasons, and they can easily double during a drought or when natural disasters like floods or fires destroy crops. You may be able to minimize the risk by signing a fixed-price contract with suppliers.
Relationship With Providers Are Important
The relationships you develop while running a boarding business are important. When you are on friendly terms with boarders, riders, and suppliers, you won’t have to deal with constant tension around the barn.
There are plenty of advantages to taking on boarders or renting out barn space. There are also some downsides. Consider your options carefully to make an informed decision about whether or not boarding makes sense for you.