Deposits?

[nicolapeggs]

Hi, I'm new to this. I have a prospective parent coming this morning who wants me to take her child in Oct. Do I take a deposit? And do I use this as the first weeks care or keep it till end of the contract? Please help?:eek:

[Daftbat]

I would take a deposit and yes you can use it for either senario. I usually deduct it from the first months invoice and make it nonrefundable if given less than two months notice that not needed.

[nicolapeggs]

I would take a deposit and yes you can use it for either senario. I usually deduct it from the first months invoice and make it nonrefundable if given less than two months notice that not needed.

Thanks for that. So many people do so many different things, its hard to know what to do for the best. I'm so indecisive, and dont want to price myself out the market or do anything to put parents off coming to me!!!! Just dont know what to do!!!!!!!:thumbsup:
Do you have any other words that can help me at all?

[nicolapeggs]

And the other thing, how much dposit to take, 1, 2, or 4 weeks money?
Help me please?
:eek:

[Ripeberry]

I have it written in my policy that i will take 1 month's deposit, so depending on how many hours they need me then i basically say £100 if its for over 20hrs a week and £50 if under 20hrs a week.
Makes it nice and simple.
But i would like to know, what do you do if someone gives you a cheque? Can you cash it straight away and give them a pro-forma invoice to say they have £100 or £50 credit on their bill?
Knowing my luck i'd lose the cheque or they would cancell it! :mad:

[Chatterbox Childcare]

You will get different answers depending on who is about to reply

Personally i do not do retainers but take a non refundable deposit. it shows commitment by both parties.

I ask for £150.00 or 2 weeks money (whichever is the lower).

[Daftbat]

I normally do a minimum of two weeks fees.

My fees are £3 per hour or £24 per full day between sensible hours - say 7.30 - 6pm extra after that. I normally do a full week, office hours, for £95

I live in Derbyshire and it seems to be avergae around here but you could be undercharging using my rates in some areas of the country. Go on the CIS website *************.gov.uk for a better idea in your area.:thumbsup:

[grindal]

Hi
I am a new minder too. My current mindee paid 2 weeks deposit. I intend to keep this until the end of the contract and then refund it. I wrote into the contract that it would be non refundable if the place was not taken up. I quite like the idea of a non refundable deposit - but not quite sure how this is actually any different to a retainer?

[Daftbat]

Hi
I am a new minder too. My current mindee paid 2 weeks deposit. I intend to keep this until the end of the contract and then refund it. I wrote into the contract that it would be non refundable if the place was not taken up. I quite like the idea of a non refundable deposit - but not quite sure how this is actually any different to a retainer?

If you take a retainer you are saying that the place is available now and you are not allowed to take on another child whilst you wait for the new child to come to you. A deposit secures a place for the future and you can fill it in the meantime with another child.

[grindal]

If you take a retainer you are saying that the place is available now and you are not allowed to take on another child whilst you wait for the new child to come to you. A deposit secures a place for the future and you can fill it in the meantime with another child.

Wow- am liking the idea of a non refundable deposit even more :eek: :eek: thanks for clarifying that Penny

[nicolapeggs]

Thanks guys, that helps. I spoke to my possible parents on Friday and said I would like 4 weeks money now to secure the place till Oct. Then said it was up to them whether they used it as first weeks care, or last weeks care. Was that right? :clapping: