Retainer Advice

[mrs_scottydog]

I'm currently on maternity leave but possibly planning to return to childminding in November. Next week I have a visit from a potential new parent.
I used to take a two week deposit and get paid in arrears but have decided when I start again to get paid in advance. Anyway if the parent decides they want me as their childminder it wouldn't be for another 7 months. Do I ask the parent to pay a retainer for the place, apparently work is slow around here at the moment, so it's possible there won't be any enquiries for a while. Or should I say that if I get anymore enquiries I'll then ask for a retainer? I ask because I don't know much about retainers and how much to charge.
Any advice would be good. Thanks in advance. Hx

[Demonjill]

I personally would not be happy taking a retainer for this length of time - what if You couldnt stick to your side of the deal for whatever reason - eg illness? You would have to pay the retainer back!! that could be alot of money!!

I would either take a deposit non refundable if they change their mind but refundable if i change my mind

Or

Get them to contact me nearer the time:thumbsup:

[Mouse]

A retainer is charged when a space is available, but parents don't need to use it yet. From what you say, your space isn't available until November so you can't charge for it now.

All you could really do is take s non- refundable deposit to secure the place. If parents then don't come back to you they don't get the money back, though obviously you do return it if you don't then have the space for some reason, eg. You decide not to start up again in Nov.

[Bridey]

I would take a deposit, not a retainer.

[The Juggler]

I thought the same as mouse. your space is not available until November so you can't charge a retainer really. I would sign contracts and take a months non-refundable deposit :thumbsup:

[mrs_scottydog]

Thank you for your replies. I can see that a retainer is not the way forward on this one. I think if she wants me to mind her baby I'll ask her for a deposit when we sign contracts.
Thanks again, Hx