Deposits/Retainers

[Fraggle1]

Hello all!

Hope you've all had a lovely Christmas and a Happy start to 2011!!

Fingers crossed I may have a child to look after from February :) fingers crossed. Do you charge a deposit and a retainer? Obviously the retainer would be to hold the place from now until February but then would you charge a deposit aswell as security for the end of contract? sticking to notice etc...?

Thanks for any answers in advance :) xx

[rickysmiths]

I took on a new child just before Christmas and they have paid a 4 week fee Deposit which will be kept until the end of the contract. I have charged a half fee retainer for the 8 weeks before they start in Feb. They will then pay the first months fees (for Feb) on the first Monday in Feb.

Hope this helps.

[Mrs Pootle]

I think that as February is not that far away, I would probably ask for a months deposit rather than a retainer. By the time you have signed contracts etc it probably won't be that long until the child starts, so you are unlikely to be turning away other work (and thereby warranting charging a retainer).
I would stick to a months deposit which I would then use for the first months fees, as I take payment in advance.
Good luck, I hope you get them to sign soon. :)

[Fraggle1]

thanks for your replies :) I think I'll go for the months deposit - great stuff x

They just need to want me now! lol x

[Helcatt]

I also would do "just" a deposit as it is unlikely you would fill the space in the meantime.

I charge a two week deposit, which is used against final months fee. But then I charge quite a bit living in London, so feel bad about asking for a months money as deposit aswell as monthly payment in advance

HX