Retainers

[tiredinberkshire]

What is the going rate at the moment?

I am starting CMing in September and have already had some enquiries-I want to remain competative and crucially, not be a complete bitch.

Particularly as two of the women are on maternity leave at the moment and I know how tight money can be.

But there again, I will be relying on the income in the autumn and I don't want to naively commit to parents who could drop me in it if they change their minds... I know they could anyway but a retainer or a deposit signals a bit more commitment from them.

My CM charged me a £50 deposit which she took off my first month of fees-but my DD was only with her for after school and she had plenty other mindees so I guess it wouldn't have been a big deal for her if I backed out.. These are full timers.

I would take a months money (Septembers) as a non-returnable/refundable deposit; then it acts as notice if they don't come & September's fees if they do.

If you aren't working as a childminder you can't really take a retainer

Thanks Katy. Sound slike a good idea! How do you mean if I'm not working as a CM?
I am registered - I'm just not starting until September.

Well retainer is (usually) for when you have a place, but the parent doesn't want it yet

So as you are starting in September you don't have a place yet

Ah, i see what you mean.. so it would be more of a deposit then for not turning up and losing me a space in September,rather than for the next few months when I wouldn't be minding anyway. Got it.

In that case a month's deposit that counts as September's fees sounds reasonable.. I guess if she signs that she has money worries I could split it across the months...

I charge £100 as a non-returnable deposit on a place which comes off the first month's fees.

I would go with Septembers fees (paid now) as a non refundable deposit. Anything less than that isn't really enough to deter someone from letting you down. I would happily pay that to secure a place.

I ask for a month's fees as a non-refundable deposit. I upped it after having somebody simply fail to show up after I had held a place for them for four months, and had only given £100 deposit which they were content to lose. The amount has to be a meaningful amount or I'm afraid people will be tempted to mess you about. It's a mean way to behave when it's not just the CM missing out, but potentially another family missing out on childcare and the chance to make a living.