Last Weeks Deposit

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02-27-2015 04:40 PM
Emma H

Last Weeks Deposit

Hi everyone!

Does anyone charge parents a deposit when the contract is signed to hold their spot? I used to charge a one week deposit and apply it to their last week but now I am leaning towards a two week deposit for future clients.

Also I used to give 10 vacation days but now I only offer 5 so I want to make sure then don't use their vacation and then leave.
02-27-2015 04:54 PM
BlueRose

check out this website: http://homedaycarebusiness.weebly.com/ It has a on fees that has information on deposits and holding fees.
02-27-2015 04:57 PM
Emma H

Thank you! super useful!!
02-28-2015 03:05 PM
33 Daiseys

I actually get a 2 week deposit for the first two weeks of care, and I have a one months notice, or lieu of payments in my contract.
02-28-2015 03:16 PM
Busy ECE mommy

I have both deposits and holding fees in my contracts. I take a 2 week deposit with the contract, and apply it to the last 2 weeks of care, and that is if they are starting within one month. If I have a spot open now, then I charge a "holding" fee for a spot that they want held open longer than one month. That is also a 2 week fee per month to hold it open, and I get the fees in the 1st of every month, and holding fees are not applied to the last 2 weeks of care.
I also require one month's notice for withdrawals.
02-28-2015 03:57 PM
5 Little Monkeys

I ask for a month notice of withdrawal and I apply their one week deposit than.
02-28-2015 06:17 PM
Suzie_Homemaker

Quote:

Does anyone charge parents a deposit when the contract is signed to hold their spot?

Yes. No deposit, no signed contract, = no agreement

Quote:

Also I used to give 10 vacation days but now I only offer 5 so I want to make sure then don't use their vacation and then leave.

I not give any vacation day. They pay for place to be available not for attendance. Fee is same every time.
03-02-2015 10:58 AM
mickyc

I ask for a $300 deposit to hold a spot. I apply it to their first 2 weeks of care. I ask for 3 weeks notice if they are leaving.

I also do not give families any vacation days unpaid. I do however offer a small discount on their vacation days ONLY if I am given 1 months notice. I think of it as they are still paying me for my time but not for food and craft items I do not have to supply while they are away.