Fees - Thinking of changing mine

[DayHomeMama]

I am going to be filling a full time spot coming up soon for a mat leave and was thinking it was a good time to up my rate a little bit. What do you do when you're changing your rates? Do you leave your rate the same for the families that are already with you and just set it for the new ones coming in? My rates have been the same since I opened over 2 years ago.

Also, do you list your rates in your terms and conditions, or just write them in specifically for each family?

TIA! :)

[Mike]

New parents is a good time to do an increase, and others should be increased a little each year to follow the cost of living. Just give plenty of notice before raising current rates. Rates don't go in my terms, just the contracts, since there can be some variations.

[5 Little Monkeys]

I also have been open for 2 years and I don't do a yearly increase. I have an opening for the beginning of Feb and took this opportunity to increase my rate by $5/day. I have kept all existing families at their current rate. I have told them that the rate they sign on with will always be the rate they pay. Realistically, most families are only here for 3-4 years at the most anyways before going on to school. This opening is a part time spot though so I decided to charge more for it. When a full time spot comes up I will re-evaluate and decide on a rate than.

[DayHomeMama]

New parents is a good time to do an increase, and others should be increased a little each year to follow the cost of living. Just give plenty of notice before raising current rates. Rates don't go in my terms, just the contracts, since there can be some variations.

That's why I was thinking of removing my rates from my TC's, thanks!

[AmandaKDT]

My rates increase by about a dollar every year to cover cost of living increases. I think raising it a small amount every year is easier on the parents than perhaps a $5 increase at one time.

I give about 2 months notice and they get a letter that they must sign and return.