What are your policies on holding spots?

[monkeymama]

Hi ladies, I just recieved a call looking for care in april for a 12month old. so far, I havent come across needing to hold a spot that long. I do want to make a change to include a holding fee. Just curious, what is standard? I was thinking 1/2 my monthly fee due at the beginning of the month. Probably would jsut ask for post dated cheques. If cheque bounces, then I consider agreement terminated and go back to advertising. If anyone feels comfortable giving brief synopsis of their contract policy, i would be grateful!

[Crayola kiddies]

Hi .... I have once held a spot that long and I charged $250/month due on the first of each month and it was payable by EMT as i don't accept cheques.

[Inspired by Reggio]

I personally do not have it in my budget normally to hold a spot for that long that is actually 'sitting empty' now ~ that is a long time to go without income specially if you commit to it and next week get 3 inquiries wanting full time for December 1 and now you know you are going to be 'loosing out' on the income having made this commitment.

However when it works for ME and I want to refrain from filling it right away than I have done the 50% holding fee ... so they basically meet me in the middle by paying for 1/2 the monthly fees I am 'loosing' by holding the spot open for them and I also allow them to use that to wean the child in by coming 1/2 day mornings if desired or 2 full days a week depending on how the child copes.

[apples and bananas]

I have always thought that as much as it would be nice to have that extra income to hold a spot, what if the child doesn't work out? What if they start in 5 months and they aren't a good fit. Then the family has paid you $1000 to hold a spot and you end up terminating in 30 days. Too much of a commitment for me I think.

Aside from that I wouldn't hold unless, it was really hard to fill in my area or the family was amazing or I had someone about to leave at the same time. Holding spots is not worth the income loss in my opinion.

[Inspired by Reggio]

Agreed A&B .... I would not do it for a 'stranger' for sure the only people I have held a spot for with a holding fee is 'current clients with a second child wanting to enroll' so I am confident that it will work out cause if the parents are awesome with child number 1 than anything the second child does we will work through too!

[monkeymama]

thanks ladies...i have been trying to fill this last spot for months now without many inquiries which is why i am leaning toward doing it. i will not be making any decisions until after i meet with family next week...i am a little concerned with that long of a time period tho...i will be meeting the child at 7 months old...will be quite a different child when he starts coming at 12 months...i dont want to get screwed over either...hold the spot and then be back at square one...decisions, decisions...lol

[Serendipity]

I will hold a spot for 50% of the normal rate for up to 60 days. After 60 days, I require FULL rate for the space. I don't think I should have to lose money because some one is not actually looking to start until a later date.

[monkeymama]

had the interview with potential dcp last night and it went really well! they agreed with all my policies, didnt balk at the holding fee and seemed to genuinely like my approach...i have another interview this week but so far it might work out well

[Momof4]

I've held spaces before for a month or two and I charge $200/month holding fee but I wouldn't do it for more than 2 months. What happens if you sign on this client and make the promise and get a call tomorrow for somebody looking for a full time space next week. It's Murphy's Law! Do what is best for you and what you can afford.