Retainer/ Deposit for a place in June 2010

[Minstrel]

I have a mindee mined up for June next year and due to much interest in the place, we want to get contracts sorted. Is it ok to do it that far in advance????

Also i'm not sure what to charge in terms of a deposit/retainer? I was thinking one months fees but OH says they will find it difficult coming up with the money this close to christmas and has suggested a token fee of £20. Now clearly that is ridiculous and I wouldnt even consider holding a space that long for £20!!!
I'm more of the thinking that its not really my problem what time of year it is- if they want my service they will have to find it. Harsh words i know but as a consumer i would be in the same position should i require somebodies service.

But what would you do?

Any advice please???

[PixiePetal]

I am thinking of taking a weeks fees. Not had to do it yet so will be interested to hear from others :)

[edayhouse]

I have a baby lined up for August 2010 - baby due to be born January 2010. When they came to see me i said that when baby arrives and contracts are signed i would require a months deposit. They would then not make any payment the first month baby is with me.

I agree - not really your problem what time of year it is.
I have been let down by parents in the past so if they want me and want my place then they need to pay deposit to ensure they guarantee place.

Good luck
x

[suzyblue]

I always charge half of their monthly fees as a deposit. This is then deducted when they start from the first months fees. You wouldnt charge a retainer as the space isnt available yet.

[singlewiththree]

I charged £50 from Sept-Nov and we are now using that for settling in periods. :)

[PRINCESSDAISYFLOWER]

I think it depends on whether u have that place avaliable now and are holding it open for 7 months for them?

If this is the case then it is 7 months worth of earning you could be losing. Im in the position where i get alot of enquiries and can easily fill places so i take retainers (non refunderable) and for 1/2 there hourly fees. Thus i have just recieved £500 to keep a place open for 3 months. The parents wont be getting this back.

It all depends on your circumstances

[Minstrel]

. You wouldnt charge a retainer as the space isnt available yet.

The space is available now and its my under one space so as princess says i am holding the space for 7 months and getting no income for it. :( I dont mind massively as i am full elsewhere and earning ok money. But likewise i dont want to be turning work away only for this lady to let me down.

[marian]

Then I would charge a retainer if the space is available now.

Marian x

[HELEN10]

Yes i would charge a retainer normally but for that far away i just say ring me nearer the time. If they really want to come to you and they want to secure the place now then perhaps they will have no probs paying retainer!

HELEN10

[Carol M]

I would charge a non-refundable retainer of half fee to save the place .
June 2010!! hell of a long way off,you could be earning full fees. If parents want you and you are happy to take a retainer of that much , go for it.
Carol:)

[Lou]

If baby is born, i would charge a months fee as a deposit and then a retainer fee of half fees until they start as the space is there and ready. Of course if you do that you need to be available to have the baby in that time if they ever want to use you (for full fee of course)

If they dont want to do that, i would tell them to get back to you nearer the time, they would have to run the risk the space isnt free.

Thats 7 months of fees you could be losing out on.

[Minstrel]

Thanks for all the advice.

If they took the risk then i dont think the space will be there. She came to me when pregnant and I told her to come back sooner the time but now i have two people just this week enquire about the space and a current mindee mum is pregnant and want me to have baby which would be around the same time.

I'm going to ask for a months deposit and if they pay it then will show decent commitment on their side and i will be prepared to hold the space with the fallback of current mindees new sibling. (might even ask for variation when the time comes for cont of care).

[miffy]

Is the baby born? I wouldn't make any arrangements until a baby has been born.

If baby is here and your space is available then you could charge a retainer until the child takes up the place in June 2010 - you must be available to have the child during that time (you can't charge a retainer if you're on holiday or ill, etc).

Personally I'd take a deposit of at least one month's full fees - this could be offset against the first month's fees but would be non-returnable if they didn't take up the place. It does mean that you have saved a space for 7 months with no income though.

Miffy xx

[Minstrel]

Baby is born. Can i charge a non- refundable deposit? ie it wont count towards fees but compensates me for loss of earnings?

[RedDragon]

I would write it all down, explain that you are only allowed 1 child under 1 and if you keep a space open then for the full 7 months you will not be earning on a place that can easily be filled. I would then say in normal circumstances I charge half fees per week/month but as the wait is 7 months you realise that this is a lot of money, but at the same time it is also a lot of money for you to be not earning. I would then say could we come to mutual agreeable terms?


You might be pleasantly surprised, she might say - "I definitely want the place and will pay half fees for 7 months" - one way or the other you are definitely going to come out of it better off than just taking a month's money off her and letting her have it back when her child starts in 7 months.

[mumx3]

I have just signed contracts on a similar situation.

Parents wanted to book my under 12 months space for April 2010. When baby will be 9 months old.

I have taken a retainer of 50% monthly fees to hold the space and then they will pay a deposit of one months fees PLUS one months fees in advance BEFORE the first day the contract starts. Parents were absolutely fine with this.

I have offered to do settling in up to the value of the retainer up until when the place is taken up. Parents really liked this idea too.

The space is 2 days a week term time only so monthly fees are roughly £300 which means the £150 a month retainer is obviously affordable to them.

I am going to put the retainer money into my savings account...just in case circumstances change and I need to refund for any reason.

Good luck with everything.

[littletreasures]

Baby due tomorrow in my case. It's a half-sibling of one of present mindees. Mum wants baby to start in April/May full time/term time only.

I intend to take retainer of half fees monthly from January and will say to Mum that I will have baby 1 day a week as settling in period upto when she starts. This means they are not paying out for nothing so to speak.