Retainer query.

[LittleVoice]

I have a family coming to visit me tomorrow to care for their daughter from May when she will be 1. I am going to charge a 50% retainer up until she starts, the query i have is, would this retainer be refundable? Im getting myself confused about it all!!

Also I would be wanting a months fees in advance, do i ask for that as well when she signs the contract or do I just ask for it on her daughters first day?

Thanks in advance.
Hailee

[jane5]

A retainer is non refundable as it is to make up for any lost income you could have earned whilst saving the place.

I ask for a 4 week deposit which is used to pay for the 4 week notice period at the end of the contract. This means a parent never leaves owing me the notice period fees.

I also ask for a months fees in advance but I usually say this is payable the week before they start.

[Goatgirl]

Hi :),
I wouldn't consider the place 'held' until they have signed a contract which explains the start date and the cost of the retainer, which is payable to keep the space open. You could take on another child and get the full 100% for the space otherwise, so you would be losing out twice if you refunded any of it.

If they don't want to pay a retainer I'd not be saving them the space, but asking them to get back in touch a month before they want the space. If still available, they could come to sign a contract and pay a deposit of a full one month's /four weeks fees. Payable toward first month's fees or non refundable if they don't take up the space.

We all have our own ways. Good luck :thumbsup:

best wishes,
Wendy :)

[miffy]

If you have a space available now then you can charge a retainer each week until they take up the place - how much you charge is up to you. Retainers are not normally refundable unless for any reason (such as your sickness) the place was not available.

Miffy xx

[LittleBuds]

Hi, the above is really useful for me too thank you.

I have a family coming who want to do a staggered start - 3 days in month one, 4 days in month two and by April full time. I suggested on the phone I would need to confirm retainer fees for the staggered start days, is this reasonable do you think?

I was thinking maybe half fees for the two days in the first month and then the one day in the second.

Does this sound ok?
Thanks

A

[miffy]

Hi, the above is really useful for me too thank you.

I have a family coming who want to do a staggered start - 3 days in month one, 4 days in month two and by April full time. I suggested on the phone I would need to confirm retainer fees for the staggered start days, is this reasonable do you think?

I was thinking maybe half fees for the two days in the first month and then the one day in the second.

Does this sound ok?
Thanks

A

Yes, it sounds reasonable to me as you are having to save spaces those days for their child even though they have chosen not to send the child. Explain that the retainer is payable to ensure that when they want the full time place in April it will still be there for them.

Good luck

Miffy xx

[Carol Raeburn]

This link has also helped me, I have a parent coming out to me next week about her 2 boys starting mid Feb I am going to advise that as I am holding the places for them I would need to charge a retainer until they start. Hopefully she wont run a mile :)