Retainer fee charges

[Mykidsrock]

Hi All
Have had an enquiry to start Feb/March 2011 and LO will be 6 months at the time of starting. It will be for 7 hours a day, 5 days a week. Ive agreed a daily amount for mum already so thats fine.

Mum is coming to see me when she gets back off her holiday in a couple of weeks and if all is well, will be taking the place and contracts etc will be agreed then.

However this is going to be November with the view of LO starting some 4-5 months later. I am going to ask for some form of payment for these 4-5 months, because I will not be available to take on another in this LO's place until they start but am unsure firstly what percentage of a 'normal' monthly rate to ask for and secondly if this should be as a retainer to hold the place or a deposit to be given back over x amount of months when LO starts. Personally I think it needs to be a retainer but have never had to charge for one before so have no idea where to start.

Lastly, if it is a retainer/deposit does anyone have any idea as to how I could or should word a letter for us both to sign to state exactly what she has paid for and also to state that a retainer/deposit is non-refundable should mum decide not to take the place up in Feb/March.

Thanks all

[candy cat]

I get 50% and make sure you do it per week so you don't miss out....also can only charge when available so if you don't charge for hols and have one in this period you shouldn't charge. If she doesn't want to pay then say you will pencil her in and if someone else wants place you will phone her and she will have to pay or lose place! My parent was pleased as she wanted weekly as she was dreading a huge deposit. good luck!

[Pipsqueak]

I get 50% and make sure you do it per week so you don't miss out....also can only charge when available so if you don't charge for hols and have one in this period you shouldn't charge. If she doesn't want to pay then say you will pencil her in and if someone else wants place you will phone her and she will have to pay or lose place! My parent was pleased as she wanted weekly as she was dreading a huge deposit. good luck!

Agreed

or take a substantial deposit - work out what the retainer would be over those months and then come up with a figure close to.
Deposit however is (and put this in writing signed and dated by all parties) NON REFUNDABLE if parents decide not to take the space upon the terms agreed, it is refundable if you cannot or do not want to offer the space under the terms agreed.

[Mykidsrock]

As it stands at the moment I only have 4 days holiday booked in this period and that is over Christmas so the rest of the time I would be available.

Thanks for all the advice. Ill speak to mum and offer her a retainer to secure the place or pencil her in like you said, but let her run the risk of the place not being available in 4-5 months should someone else come along before then.

xx