Explaining retainers to parents
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  1. #1
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    Default Explaining retainers to parents

    When I have a parent requesting childcare when we sign contracts I ask a deposit to hold that space until needed & then use the deposit as there termination fee paid in advance
    One of my parents requested care to start August but now wants to start September
    As I'm not making any income from this space another childminder has said I am within my right to charge her a retainer to hold the space further for them
    I am happy to do this but how would I go about explaining a retainer to the parents

  2. #2
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    You have a contract to start August. The parent is asking for a change to contract. What notice period have you agreed in your contract? August is only a few days away- if you have agreed '4 weeks notice for changes to contract' then parents have not kept their side of the contract.

    I think you are within your rights to end the contract because they are not keeping their side of the contract- They have agreed in a contract to pay you full fees from August for childcare. They have agreed to give you xx weeks notice for changes to contract and they have not done so (?? possibly? check your contract).

    But, you might not want to end the contract...
    You might be happy to wait until Sept BUT you don't want to lose August's fees.

    You could stick to your contract and say parents have agreed to pay fees from Aug and that is what you expect whether they bring child to you or not (depending on details of your contract).

    Or you can come to some compromise with the parents such as accepting 50% of fees for Aug (= a retainer= you keep the money and keep the space open and available fore them to use for a top-up to 100% fees).

    All depends on how you feel about this family, how much you want to give way, how much you want to stick to contract to show you are not to be mucked about with. What if in late Aug they say they want to delay to October? How far do you go?

    Good luck with it, always the worst part of the job. If you use Pacey contracts you could call Pacey helpline for advice too (or MM etc)

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  4. #3
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    Is the contract already signed and the deposit paid?

    If it is, I would tell them that as the contract is due to start in August, full fees would be payable as the childcare space is available to them from the agreed start date. If they wish to postpone the start date until September you are prepared to offer them a 50% reduction until then (set a definite date). They will be able to use any of the days, with full fees being due for the days used and the retainer fee paid for any days not used. They will need to give X days notice of any days you do want to use.

    If they haven't signed contracts I would say that you are looking to fill the space in August and if they want to secure it they will need to pay a retainer fee from then. If they don't want to do that tell them that unfortunately the space won't be guaranteed and go can't promise it will be available in September. Some parents will be prepared to risk it while others will want to guarantee they have the space

  5. #4
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    Yes the deposit has been paid and contract signed with the start date August 2015

    I did orginally Bill her the full days, but another childminder said I might be better just charging a retainer to hold the space for a further month.

    If she came back the end of August saying she wanted to leave it until October then I would be cancelling the contract as I can't afford to have a space like that sitting empty

    I've just sent her a invoice & charged a retainer fee, if she pays great if not I will just cut my losses and re advertise

 

 

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