What do you do? Deposits? Non-refundable deposits? I've never experienced this much advance notice.
Printable View
What do you do? Deposits? Non-refundable deposits? I've never experienced this much advance notice.
I wouldn't hold a spot that long unless they wanted to pay for it. The longest I will hold a spot is for a month or a month and a half and even then that is with a non-refundable deposit and a signed contract.
If your services are THAT important and valuable to a parent then they will pay for them. And if they don't then keep interviewing until you find someone who wants the spot now.
Definitely agree with Judy. Non-Refundable deposit, and a signed contract are the only ways to go.
I charge a $200/month non-refundable holding fee if they want a spot held that long. They pay this $200 every month until their start date...I'm not holding a spot for free EVER...you want it...you pay for it!
Do you put that 200.00 towards fees at any point or is it all just a holding fee (money in your pocket?)
I charge a 150.00 per month holding fee but use it towards the first months fee. I wonder sometimes if I should change that.
If I have a full-time child to save a spot for: My f/t rate is $35.
Parents have to pay a non-refundable deposit of two weeks pay: $350. But this will become their first two weeks of the childs daycare fees.
Hopefully that makes sense.
Since I don't even open until June but I filled up fast, I had all parents pay an advance payment of 5 days of care.
Quote:
Originally Posted by mlc1982
Knowing fruitloop my guess is she KEEPS that money. I would too. It pays for the income loss for every month you don't have an actual child IN that space.
If you do not have a space available until October then NO I would not be charging a holding fee, just a 2 week deposit. Buuuuuut if your space is available now then YES charge a "holding fee"
Yes, Judy is right, that money goes towards nothing. It is to cover a small portion of my income loss. Now, if i don't have a spot open until a certain time, I would just charge my $200 registration fee and THAT does go towards their last months fees. But, say I have a space that opens up in June and they don't need it until September but want it held, I would charge them the $200 registration fee (which is mandatory upon signing on with me) and then when June comes (when the spot opens) they would have to pay me the $200 holding fee every month from then on to keep that spot open for them until September.Quote:
Originally Posted by Judy Trickett
Makes sense. I thought about doing it that way but then in a way I guess I thought it was asking a bit much of the parents. I know I'm in business for myself and need to learn to not to get my emotions invovled so much but sometimes it's hard. I guess if someone wants you bad enough they're going to pay, right!
But the parents aren't asking to much to hold a spot for months for them while you loose hundreds if not thousands of dollars? You are not asking to much to charge a holding fee, your services are worth something and you're right...if they want you bad enough, they will pay. I have never had an issue with a parent not wanting to pay a holding fee.Quote:
Originally Posted by mlc1982
I just changed my contract for any new parents coming in. I charge a $100.00 deposit which will be used towards first months fees if care is needed within the month. If it's longer than that, a $200.00 per month non-refundable holding fee is required!
Awesome! Good for you! ...and you know what? They will pay it if they want their child with you.Quote:
Originally Posted by mlc1982
I have only ever held a spot when I didn't actually have space until the month the child was starting and I took a deposit of two weeks of care. If I were to consider holding a spot when I have the space avaiable, I would do what some of the others have said and charge a holding fee.
Generally, I do not hold a spot for any length of time. If it is open in Sept. but a family does not want to start until Dec., they will pay full fees for that 3 month period. They will usually visit frequently to acclimatize their child. The position is theirs, so they are welcome to drop in any reasonable time of any day they wish.
If it is a family that has a first child with us and who have been very reasonable and kind, I would compromise. They would pay for 1.5 months extra, and I would give up the income for that 1.5 months. BUT I never lose track of the needs of my family and the bills that await at the end of each month!:blink::blink:
I charge one week's fees per month to hold a spot. This must be paid by post dated cheque when they sign the contract. If I am holding the spot for more than a month then the fees are not counted towards anything but if it is a month or less then the fee covers visits and part of their first week.
I charge a $300 deposit that goes towards their first month's pay if its the month coming up or if it is for the first month that I have available....for example...if I know I will be having a space open up in July, and I meet with someone in April that wants it, I don't charge a holding fee if they are starting in July, but I do charge the deposit to "secure" their spot so that I know that yes, in fact these people are truly comitting. But anything after that is $300/mth, with a limit to how many months I can hold depending on what I feel works for me at that time.