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50% retainer question(8 Posts)
Hello, may I ask a question please. My daughter starts school in September and I’m trying to understand potential childcare costs. I will need wraparound care of 4.5 hours a day, four days a week, so 18 hours a week in total. I probably only want term time care. The childminder has said she charges a 50% retainer in the holidays. What I am seeking clarification on is what rate the retainer is that. So is the 50% so 9 hrs or is it 50% of four full days if that makes sense? So if I was using the childminder in term time I would need cover from 7:30am to 6pm ie a total of 42 hours so is the 50% retainer charged at 21 hours. I have asked, just not heard back from her yet and I’m trying to understand what is the norm. TIA
It’s so different with every childrminder, so hard to tell. I don’t charge any retainer but I don’t know if that’s the norm either!
I would think its 50% of the actual costs.
Your going to have to wait for her, personally if I take you on wanting to fill a full time holiday space I would charge you the before and after school price all year around unless I could fill the space. If I'm only looking for term time only I wouldn't charge a retainer but ask for Septembers money in July to protect against non returners. If you want space some days but not others I charge a retainer of 50% for the maximum days you want (so if you possibly want 2 days a week you pay 50% on spaces not booked to hold those days for you, once you book them you pay full non refundable in advance).
I would imagine that if your contract is for 18 hours per week for the weeks you require care (term time) then your retainer is 9 hours for the weeks that you don’t require care (school holidays). Your childminder will need to clarify this. Also, a retainer is paid for time that Childcare is available to you but that you don’t need it. What is the cost to you when Childcare is not available to you (when your childminder is on holiday)?
It would be 50% of your weekly cost. So if you only normally use 18 hours then you'll pay for 9 hours in school holidays
This will be set out in the contract that you sign with the CM, which may be similar to others and could be entirely different. Best to read it and ask direct to check that you have understood correctly,
Thanks for the replies. It turned out to be 9 hours but to be paid for all non school weeks including the 4 weeks when she took holiday. I’ll be honest that felt steep and I kept looking and I’ve found another lady who doesn’t charge a retainer who felt like a better match anyway.
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