How do I register a lease? If you want to let go of a racehorse, you must first become a registered owner, whether as an exclusive owner, in partnership or as a syndicate. Discover here the different options for registering the property. Once you have registered as a landlord, you must register the lease with form L1 with Weatherbys. There is a registration fee of £53.80, plus an additional £27.20 per year to renew the lease (if applicable). Rental forms aren`t supposed to be difficult to fill out, but can sometimes be confusing. If you still have doubts about how to fill out the form or if you are not sure what type of rental is suitable for your situation, please contact the rental service at firstname.lastname@example.org or 02 9551 7529 Leasing a racehorse is a good way to commit without paying a prior sale price. For the duration of the rental contract (usually between 1 and 3 years), you are effectively considered the owner and will have to bear all the costs related to the maintenance of the horse. Racing NSW is pleased to announce a simplified possibility to amend existing lease agreements for NSW horses. During the term of the lease, one or two tenants may change — people go and others come in. Under the current system, this required the termination of the entire lease agreement and all parties had to complete a new leasing document and involve the new parties. They must register their possession of the horse in the government`s new PPSA national registry. This is a separate process of filing the usual race rental document with RISA or Racing NSW.
It is important that an agreement is concluded between the lessor and the lessee regarding the duration of the lease, the distribution of the prize money, if any, and any exceptional costs that may remain with the lessor during the period. Below you will find a standard agreement and instructions covering several points that they should take into account when concluding your agreement. The A-Lease option was created to help owners receive their prize directly from Racing NSW (following changes made by the ATO that affected the payment of the prize). With this option, ALL landlords must be listed as tenants in the rental agreement. The rules of the A-Leasing option: Conditions of the contract: owner/legitimate owner of the horse tenant, the person or people who want to rent the horse trainer – the person who is called the trainer of the horse horse – the animal to rent. Lease B is a normal leasing situation, in which landlords are not required to participate in the lease and an agreed rent amount is set. Please note that the prize money cannot be shared with the B-Leasing option and the entire prize is sent to the managing tenant. If you need more information about leasing, please call the ROA on 01183 385680. It should be noted that this agreement is made available in the form of a model and that it can be adapted to the particular requirements of the tenant/owner. Before returning your leasing form, make sure the following information is complete: for any leasing request, please contact us by the following email – email@example.com While some breeders choose to sell their young, some choose to rent their horses for part of their racing career. The TBA and ROA have developed a draft leasing agreement to support members and ensure that agreements are formalized and fair to both parties. .