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View Full Version : Deposit or retainer? how much?



butterfly
10-08-2008, 10:34 AM
I've got a mum coming tomorrow to look at a place for her son beginning as soon as he turns one in november.

if she wants the place what should i do about a retainer/deposit?

the thing is i have a place for a 1-5 which she would be taking from november so i was thinking a retainer as i could fill the place with another child...however.. the place isn't actually available to her yet as the little boy is under one so this would be a deposit. what do you think i should do?

i think the contract would be for two mornings i.e. 2x5hrs working out at £40.

usually i would do a retainer of half fees costing her £20 per week until mid Nov which she wouldn't get back

however it's not her fault the place isn't available so maybe I should charge a deposit which would then be used against her first fees. I would usually charge a deposit of £50 which would be just over a week's fees. however then i wouldn't be earning anything from the place until mid november.

what would you do?

Spangles
10-08-2008, 10:46 AM
I wouldn't know what to do either I'm afraid so I'm going to dip out of this one! Sorry!

Wiggly
10-08-2008, 10:49 AM
Blimey this is complicated and didn't want to read and run. I'm sure someone on here will have a suggestion.

Wiggly
x

Minstrel
10-08-2008, 10:52 AM
Coluld you not compromise and charge a retainer of say 100 pound? your not losing out as such as even if she wanted to start now you would have to turn it away. plus you can still advertise for the other remaining hours she does not want

miss mopple
10-08-2008, 11:01 AM
I'd charge a deposit. It just wouldn't feel right to me taking a retainer if you cant actually offer care yet.

Chatterbox Childcare
10-08-2008, 11:43 AM
Retainers are to be charged and paid for a space that you currently have and are holding open and it not being used.

As you don't have a space until November you shouldn't charge a retainer but you could charge a non refundable deposit and the size of it depends on you.

Hope that helps

Debbie

Heaven Scent
10-08-2008, 02:02 PM
Charge her a non-refundable deposit its cannot be a retainer as you cannot accommodate the child at the moment but tell her if you get an enquiry for the 1 year old place between now and November then you will need to charge a retainer as then you will effectively be keeping the place open for the child. Tell her you will get in touch with her to see if she wants to hold it open with a retainer and as you have a deposit adjust the retainer accordingly and perhaps make it favourable. Also it may be prudent to offer her the deposit back if she is not happy with paying the retainer and you decide to go with another family because you won't have kept to your side of the bargain. If you don't get an enquiry then you won't have lost anything and have the sevurity of knowing that you have a child starting in November.

butterfly
10-08-2008, 03:10 PM
is a non-refundable deposit allowed? i always assumed a deposit had to be given back. do you think that would be suitable? i really do need to fill my spaces and would hate to have to turn away a full timer because of a space i've held open for nothing.

this could all be for nothing as she may decide to go elsewhere. i think she really wanted care to begin now so she'd have to be very happy with me to wait till november. we'll see tomorrow though -she's coming at 10 so i'll let you know!

miffy
10-08-2008, 04:08 PM
This is what the NCMA says about deposits

"A deposit is usually a one-off amount paid by the parents to show their intention to take up the place. It may be refunded by being deducted from the fees once the childminding arrangement begins. NCMA recommends that you take a deposit when parents sign the contract.

A deposit is not usually returned to the parents if they decide not to take up the place. If you cannot offer the place as agreed, or you vary the terms and conditions without the agreement of the parent, then the deposit should be returned to the parent in full. Details of the deposit should be included in the contract."

You can't charge a retainer for this child because you do not have a space available for it until November - you would be best to charge a reasonable deposit and as it says above if you do change your mind then you must return the deposit in full. That is not really good practice though - you must bear in mind you want to keep a good reputation.

Good luck - let us know how you get on

Miffy xx

butterfly
10-08-2008, 04:27 PM
i think i'll just charge a deposit and refund it against the fees in November. I'm thinking of asking for 4 week's fees so in this case it would be £80

i'd be glad to get some work and would prefer lots of part timers rather than one full timer.

just trying to work out in my head what to say if she asks what mornings i would prefer. she wants the minding to allow her time to spend with her new baby.

i help run our local toddler group on friday mornings so i'm working out whether it would be easier to take 2 babies of the same age along with me or to leave it empty but then maybe have to take 2 diff age children with me. at least with babies the same age hopefully we could all play together and i could strap them in the buggy when i want to help tidy up at the end!

miffy
10-08-2008, 04:34 PM
If I've understood you correctly this mum isn't going out to work she's staying at home with a new baby?

In that case I'd ask her if you could be flexible about the days/hours for a while to see if you get any other offers of work - that way you are not tying yourself down to set times when there may be no need to.

Miffy xx

Minstrel
10-08-2008, 06:09 PM
My she's knocking them out quick!!! her son is 81/2 months i think you said in another thread and she has a new baby already?

emmadines
10-08-2008, 06:18 PM
I just ask for the 1st months payment upfront. then that covers the 1st 4 weeks

butterfly
10-08-2008, 09:35 PM
My she's knocking them out quick!!! her son is 81/2 months i think you said in another thread and she has a new baby already?

not quite that quick but new baby is due in feb! her oldest will be 15mths!

Minstrel
11-08-2008, 10:19 AM
lol
Thats not too bad then . i couldnt blame her for coming to you for a bit of peace.
On a personal level i just couldnt do that as a mother. pack my eldest off somewhere to have time with a new baby. the guilt i would suffer would be awful. i think they need to be part of the whole bonding process or they may resent the baby.
My boys are incredibly close and i think this is because i didnt even send him to playschool he just went to nursery at 3.5