should i charge retainer or deposit ..help!!

[candy cat]

I have got a lady and hubby coming back tonight ....She wants him to visit me as I go on hols tomoz and she wants it all signed by then.....They want me 11th oct so do i charge retainer or a deposit either way its a lot and don't want to put them off, but i am running a business as my partner keeps telling me he he....what would you do?

[Carol M]

I would charge a Reservation Deposit of one months fees. Explain that this will be 1st mths fees when starting but if they do not start then you keep deposit.
carol xx

[rickysmiths]

I would charge a Reservation Deposit of one months fees. Explain that this will be 1st mths fees when starting but if they do not start then you keep deposit.
carol xx

I would charge a Deposit of four weeks fees. This would then be held until the end of the Contract and if all fees at this time are paid then us it to cover the 4 weeks notice period. If they don't start the contract then the Deposit is not Refunded. If for some reason you can't start the Contract then the Deposit should be refunded. They then pay you monthly/weekly on the first day or I do Monday of the month.

Doing it this way, if they don't pay you you can at least give notice quicly and loose the least amount of money.

[candy cat]

many thanks cx

[mama2three]

If youre using ncma contracts dont tick any of the boxes which refer to what will be done with the deposit once the contract starts. It means that the parent could in fact ask for their deposit back if they choose not to take the place. This was advised by ncma legal line , it feels wrong not to tick one of the options though whilst completing the contract. Hopefully they will have amended this on new contracts ..