Is it common for daycare providers to charge a holding fee to reserve a spot. Currently I will hold a spot for 2 or 3 months and not charge a fee. Do you charge a flat fee, monthly fee or weekly?
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Is it common for daycare providers to charge a holding fee to reserve a spot. Currently I will hold a spot for 2 or 3 months and not charge a fee. Do you charge a flat fee, monthly fee or weekly?
I was just going to start a thread on this also. I have a lady wanting me to hold a full time open spot until April for a 1 year old. That's a long wait without income but they are great and I don't want to loose the parent. How can I guarantee she shows up in April and what can I do now, charge her a holding fee?
I ask for a deposit fee that will become their first two weeks of their child being in my daycare. This way they know their spot is held. Hopefully that helps?
Play and learn would this be non refunable deposit if the parent never showed up or changed thiers mind type thing?
You got it! I could potentially get another client, but can't accept them because I'm holding the spot for family A. This way, at least I get some money! As we all know, we're not in it for the money!!!Quote:
Originally Posted by Jenn-FSFCC
I have a 2 week deposit as well and a reservation/holding fee.
I think whether a holding fee will be accepted with the family will depend on whether or not it is 'normal' for your area. Here a holding fee is fairly common but A LOT of families will still choose to go elsewhere if you ask for one.
With my holding fee I will sometimes allow a 4 week grace between when the space becomes available and when the family will be using it.
I recently held a space without the holding fee for a returning family for 3 months, 2 spaces. I thought it was worth losing income just to have a good family return. Boy was I so wrong! The returning good family within days of returning back to care has turned into a horrible family. In the 6 weeks they have gotten better, but not good enough that I wouldn't consider terminating them if a better match fell into my lap. I don't think I will EVER hold a space for that long again without a holding fee.
I always let the family know that there are a couple of families interested in the space( and there are). If they are committed to coming, then a month deposit will hold this space for them. If they do not come, it is non refundable. If they do start on the time agreed, it becomes their deposit that is returnable after proper notice is given. Parents find it reasonable and have no problems with that. They usually really want to secure their space!
I do a two week deposit that becomes payment towards the last two weeks of care.
I have a registration fee as well as a holding fee if a spot is being held for longer than 1 month. The holding fee goes towards nothing except to hold the spot. My registration fee goes towards their last months fees.
I currently have a holding fee that is non-refundable if care is cancelled before the starting date. If care starts, the holding fee is used towards the first months fee.