retainer/deposit

[Kalila]

Hi All,

Blaze was kind enough to speak to me late one night -sorry to bother you so late by the way!

She was talking to me about fees etc....
I'm a confused childminder!

I would like your help please.
I'm still a bit confused especially with retainers & deposits.

If you have a child starting in a few months time would it not be best to charge a non refundable deposit? Rather than charging a retainer which could add up alot more, that a parent is not willing to pay? Also I've read that some charge a deposit then pass back to parent when they end the contract, you keep it in case the parent ends the contract without notice.

I do understand that every childminder is different but could I read all about your charges - plllleeeaaassseee?

I understand that if I'm not looking after a child during term time then I would charge half fee retainer & I would the same if they were on holiday. Think that's right! but during the summer school holidays it's quite a long time do you find that parents are not willing to pay this?

I'm sure I've worded this correctly.
I would just like to read all about your fees:

How you do retainers/deposit?

Thank you ever so much, truly grateful, Keri x

[mrsb]

Personally I don't charge either BUT I am also employed somewhere else so I can always get extra work IF a child didn't start when they are meant to etc, also in holidays it benefits me not to mind so I don't charge a retainer either.

The best idea if I were to charge though would be to get a deposit of whatever you notice would be (ie 4 weeks notice to terminate contract) and that would be refunded if the contract is terminated correctly, if the parent decides on tuesday that they are leaving on wednesday then you don't lose out as you have the deposit :)

Hope that sort of makes sense lol:)

[katickles]

Personally i would take a deposit if it were a long period as like you say paying a retainer fee could end up costing a lot of money that parents can not afford.

I care for term time only mindees & i do charge 1/2 rate retainers during the holidays - my parents were fine with this

:)

[Jinx]

I've taken a deposit for a little one due to start in September. It was the equivilent of 2 weeks fees, (40hr week.) I've told the parents this is non refundable if they change their mind but will count towards the first 2 weeks fees in September.

I don't have any term time only children so I'm afraid I can't help you there really. Only to say that if the children were going to a nursery, they would have to pay 52 weeks of the year!!!!:D

Jinx x

[Blaze]

Hi All,

Blaze was kind enough to speak to me late one night -sorry to bother you so late by the way! Not a problem...I've done later!
She was talking to me about fees etc....
I'm a confused childminder! I knew you were!
I would like your help please.
I'm still a bit confused especially with retainers & deposits.

If you have a child starting in a few months time would it not be best to charge a non refundable deposit? Rather than charging a retainer which could add up alot more, that a parent is not willing to pay? Also I've read that some charge a deposit then pass back to parent when they end the contract, you keep it in case the parent ends the contract without notice. A retainer can be charged for a max of a six wek period...if the Lo's starting date is after that then a deposit / retaining fee is required...this can be whatever you think is fair & is non-refundable.

I do understand that every childminder is different but could I read all about your charges - plllleeeaaassseee?

I understand that if I'm not looking after a child during term time then I would charge half fee retainer & I would the same if they were on holiday. Think that's right! but during the summer school holidays it's quite a long time do you find that parents are not willing to pay this? Yes that's right...I have NEVER had a problem with retainer fees...but then I don't budge on my fees really...they are what they are...like it or lump it!
I'm sure I've worded this correctly.
I would just like to read all about your fees:

How you do retainers/deposit? As above but if it's non-refundable i make it clear that a further advance notice fee is payable in CLEARED funds by the first day...which is refunded at the end of the contract, (deducted of last invoice).
Thank you ever so much, truly grateful, Keri x

Hope that makes it a little clearer...feel free to call again if you think I can help!:)