Retainer fees and deposits

[Snowwhite]

Please could someone explain the process of a retainer fee. I have always asked a parent to pay a deposit to secure a place for their child if that place was to be taken within a couple of months (half of the months fee which goes towards there first proper month.)
I have had an enquiry from someone wanting childcare from july for their 2 children ( under 5 years old, 2 full days & 1 half) & as i have been quiet for so long i need to fill my vacancies asap and really need to grab this one even if its from the start of July.
So providing the parent chooses to use me then would you charge a deposit and leave it as that or would you charge deposit plus a retainer ontop (to which i believe is half of the weekly fee) or charge no deposit but a retainer?
If you charge a deposit plus retainer then would retainer start from as soon and then finish just before the official start date?
I know with a retainer you can only charge it if you know you have the vacancies there and then, but the parent doesn't actually need you until furthur down the line. I do have those spaces but who knows if someone else may come along needing an immediate start!?
Thanks

[JKL]

Basically your retainer is there to cover the cost of keeping that place available until the parent needs it. If you have the space now and they don't need you until July then they would need to pay a retainer to guarantee that place plus a deposit. If you didn't have space until July and this parent was waiting for a currently unavailable space then you could simply take a deposit to hold the space for when it is free for them if that makes sense.

Space now + needed now = deposit + fees
Space now + needed later = retainer until date needed + deposit then fees upon start
No space now + needed when available = deposit then fees upon start

Hope that helps x

[Snowwhite]

Basically your retainer is there to cover the cost of keeping that place available until the parent needs it. If you have the space now and they don't need you until July then they would need to pay a retainer to guarantee that place plus a deposit. If you didn't have space until July and this parent was waiting for a currently unavailable space then you could simply take a deposit to hold the space for when it is free for them if that makes sense.

Space now + needed now = deposit + fees
Space now + needed later = retainer until date needed + deposit then fees upon start
No space now + needed when available = deposit then fees upon start

Hope that helps x

Thanks JKL.Nice and clear for me to understand! x

[Snowwhite]

1 other question...how far in advance do you tell a parent in regards to notice if they choose to use you at any time if they are paying a retainer? (providing the space is available) 7 days / 5 days. More or less? Thanks

[smurfette]

1 other question...how far in advance do you tell a parent in regards to notice if they choose to use you at any time if they are paying a retainer? (providing the space is available) 7 days / 5 days. More or less? Thanks

Whatever you feel happy with, I would probably ask for notice at the end of the week for following weeks hours.. The retainer is only half the money
If they want the hours they have to top it up..
As it holds half the hour not half the days if you know what I mean

Personally though I am not sure I could ask parent to top up if they are already paying half and not back at work yet so I would be happy enough to work the half hours and have half
The money I will get once they come properly but I know a lot of people ask for
Top ups

[Snowwhite]

I would know the hours from week to week with a retainer fee as parent wants same hours every week. Its if parent asks to top up hours at any point then should i tell her / write in contract that 7 days notice is required for any additional hours if i am needed, or would you say less notice or more? Its doubtful then would top up seeing as they dont need me officially until July, but you never know.
A retainer is half of the weekly fee isn't it? Thanks ( again!)