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

[Saltire]

I always get confused by them

Deposit to book / secure a place.

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

Hope this helps!

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.

Still muddled,. 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?

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.

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

I would do the same as ChildrenAtHeart.