Holding a space for four months?!? Advice pls

[Newbie1!]

Hia I have had an enquiry which will begin Mid-June. Ive never had an enquiry so far in the future before (and they may not even want me!!) but just in case what would you charge in terms of deposit/retainer.

It will be two lo's for a minimum of three full days so a decent earner and I really need to charge something as its a lot of money to lose if I turn away other potential mindees for them. Mum is on mat leave so I know they wont be able to afford much but really not sure what to do!!!:panic: :panic:

[The Juggler]

I would ask for a minimum of a month's deposit of whatever the full fee would be, but TBH I couldn't afford not to fill those spaces between now and then if I had 2 vacancies.

I would need at least a 50% retainer per month on top of deposit. I know she is on mat leave but what if she decides not to come, you've lost income and then if she doesn't start you've got no deposit to cover you.

you COULD offset the deposit against the 1st months fees (I do) but def. a retainer from now to June time.:)

[Newbie1!]

I would ask for a minimum of a month's deposit of whatever the full fee would be, but TBH I couldn't afford not to fill those spaces between now and then if I had 2 vacancies.

I would need at least a 50% retainer per month on top of deposit. I know she is on mat leave but what if she decides not to come, you've lost income and then if she doesn't start you've got no deposit to cover you.

you COULD offset the deposit against the 1st months fees (I do) but def. a retainer from now to June time.:)

Thanks chick, that was along the lines of what I was thinking but then when i worked it out i thought I must be wrong!! The months deposit would be about £600 and then the £300 per month retainer :eek: :eek: Do you know (eligibility allowed for) if she would be able to claim these in with her childcare costs. I know they are eligible for childcare costs but wasnt sure where they would stand with such as deposits etc. Would just be nice to know so when they come I can tell them all the possibilities Thank u so much for your help, this is a totally new one to me! :blush: :blush:

[The Juggler]

Not sure. they should be. Tax credits pay whilst you are on maternity leave if you were already paying for childcare but then go on mat leave and continue to pay. However, if they are starting whilst she is NOT working I'm not sure how that works. Why don't you give TC a ring and ask them so you can give her the info when you call.

I know when I worked and got vouchers, the vouchers continued through mat leave for me so if she is getting mat leave pay from work she may be able to enter a voucher scheme now (would be good for her to register before april anyhow to claim the full tax relief before the Gov't change it).

Failing that her husband/partner could enter his work voucher scheme and they could pay you that way.

If this puts her off, you could offer her the option to only pay a deposit. BUT tell her that if another enquiry comes along and wants to start now you will give her the option of paying the retainer then, or letting the place go and you returning the deposit to take on the other family.

[JCrakers]

I used to just charge the months fee when the contract is signed. So if child due to start in June I would get them to sign the contract now or no space offered. The deposit is the 1st months fee.

But i have been stung in the past by not getting a retainer as I had a sibling signed up for starting. Held the place open for 7 months while Mum was on Mat.leave. The baby came for 8 weeks, didnt settle and had to go to a nursery instead.
So not only did I lose 7months pay whilst waiting for the baby but also got 2 enquiries during this time to which I said no.:(
Since the baby left in Dec, I havent had 1 enquiry and desperate to fill my full time vacancy.

I'm not sure if I would hold a space open without payment anymore due to this experience.
Becky

[caz3007]

If this puts her off, you could offer her the option to only pay a deposit. BUT tell her that if another enquiry comes along and wants to start now you will give her the option of paying the retainer then, or letting the place go and you returning the deposit to take on the other family.

This is what I would suggest. Then you dont lose out if another enquiry comes along, but if one doesnt hopefully she will start with you in the summer

[JCrakers]

[QUOTE=If this puts her off, you could offer her the option to only pay a deposit. BUT tell her that if another enquiry comes along and wants to start now you will give her the option of paying the retainer then, or letting the place go and you returning the deposit to take on the other family.[/QUOTE]

I like this idea...I am going to pinch this one :D

[Newbie1!]

Yep, think thats what Im going for, thanks guys, will ask for the £600 deposit, which will be held and offset against first months fees and just tell her that this will be sufficient unless I get another enquiry in the meantime :clapping: :clapping:

Just another question (although this may sound totally stooopid!!) Do you say that the deposit is non-refundable no matter what the circumstances? or is there some circumstances, such as timescale etc in which you will refund the deposit?xx

Sorry to ask so many stupid questions but all my mindees parents have come on the Sunday and Ive started Monday so not had to worry before!! :panic:

[FussyElmo]

My thoughts on a deposit is that it is non refundable if they decide to not to take the place. However if you decide the place isnt there for some reason you have to return it :)

[candy cat]

I would say retainer.....i've been getting one for 8 mths.....mum calls it direct debit child care as she didn't want a huge deposit.....she wanted the place and understood that i couldn't hold it for 8 mths for nothing.

[The Juggler]

the deposit is up to you. it is non-refundable unless you make the place unavailable then you return it but you can:

offset it against first months fees when they start OR
keep it against final months fees when they hand in notice in the future which lots of people do to avoid non-payment.

I tend to just offset against first months fees.:thumbsup: