Retainer fees

[dottylotty]

My interview went well with my first family. I am just getting my husband to write out my welcome pack & he doesn't under & has now confused me how the holidays work. If I have a term time only child they pay a 50% retainer to keep the space open in the holidays but a child that is full time pays 100% if they go on holiday in the holidays. His question is why do they not pay the 50% retainer like the other child. I had phrased it like this
A retainer fee of 50% of normal fee will be charged for school holidays when a child does not attend to keep open a place for your child.
A retainer of 100% of normal fee for any holidays taken to keep open a place for your child.

Can I word this better?

[Simona]

My interview went well with my first family. I am just getting my husband to write out my welcome pack & he doesn't under & has now confused me how the holidays work. If I have a term time only child they pay a 50% retainer to keep the space open in the holidays but a child that is full time pays 100% if they go on holiday in the holidays. His question is why do they not pay the 50% retainer like the other child. I had phrased it like this
A retainer fee of 50% of normal fee will be charged for school holidays when a child does not attend to keep open a place for your child.
A retainer of 100% of normal fee for any holidays taken to keep open a place for your child.

Can I word this better?

It will depend on what arrangements you have with parents in your contract regarding 'holiday pay'
Do they pay you full fee when they are on holiday and you work?
and what do they pay you when you are on holiday and they have to find alternative care?
It is totally up to you...we all do it differently
Hope it helps

[Kiddleywinks]

If you are open and parents choose not to send their child, (their holiday, illness, etc) I assume they still pay as you are open. This is not a retainer, this is paying for the space as per their contract. This would apply to all parents, regardless of whether their contract is term time only or all year.

With regard to charging a retainer for TTO contracts:
Are you prepared to take your term time contracted children in the school holidays should parents want you to do so at short notice?
If you are, then by all means charge a retainer @50% to 'hold their space' This means you cannot have a holiday only child to fill the space parent retains with you.

If you are not prepared to have term time only children in the holidays, (either because you have other children that attend, or because you don't want to work the holidays), then you can't really charge a retainer as the space isn't available for them to use iygwim

HTH