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A Horse Lease Agreement is a formal rental agreement between an owner and a rider for a horse's use. At its most basic, leasing a horse is a way for an owner to reduce the cost of her horse's care without selling him or taking him out of work.
Leasing a horse means that you are paying a fee for additional riding time on the horse of your choice. Many horse owners lease their horses out to help with the expense of ownership. Sometimes they don't have enough time to ride and they want to keep their horse exercised regularly.
Sources: https://practicalhorsemanmag.com/lifestyle/the-benefits-of-leasing-a-horse-11652, https://www.ofhorse.com/view-post/What-Does-It-Mean-to-Lease-a-Horse
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