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Remind me - is it a retainor a deposit I need to ask for

(7 Posts)
Saltire Thu 09-Jun-11 10:49:31

I always get confused by them grin

surfandturf Thu 09-Jun-11 11:39:19

Deposit to book / secure a place.

Retainer to hold a place open for an amount of time.

Hope this helps!

RosieGirl Thu 09-Jun-11 12:12:30

I have just charged a deposit for a new set of parents who want a space from November, as I don't currently have the space available.

When the space becomes available I will start charging a retainer (from September onwards) whether they use the space or not.

Saltire Thu 09-Jun-11 13:01:29

Still muddled,grin. Parents are coming to see me. The space is available now. They don't/can't take it up for 4-6 weeks. It's a full time space they need till September then before and after school.

So I charge a deposit now then a retainer from.....when?

RosieGirl Thu 09-Jun-11 13:07:52

If the space is available now I would ask for a retainer, as you could "sell" the space to someone else. If you aren't desperate to fill the next 4 weeks or don't think you could sell it to someone else you could charge a deposit, which could be used towards their childcare costs when they start. I negotiated a 50% retainer for my parents, as although can't really afford to give the space away, understand that paying for 3 months of childcare which they don't need may have put them off. Obviously if they pay the retainer they can use the space at any time.

ChildrenAtHeart Thu 09-Jun-11 14:00:24

In this case I charge both, The deposit (I charge the equivalent of 2 weeks fees) to secure the place (& I keep this till the end of their contract when it is credited towards their final invoice, that way I always have 2 weeks of their money in case they do a runner!) and the retainer (50%) to cover the place whilst it is booked by them but not being used, to cover my loss of income from keeping the place for them. I don't normally charge a retainer if they start within 3 weeks of signing the contract though as this time is often used by them anyway for settling in sessions

surfandturf Thu 09-Jun-11 15:04:28

I would do the same as ChildrenAtHeart.

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