Childminders Club - I know we've covered this before, but retainers???? Parents welcome to add twopenceworth!

[lunavix]

Might be having a visit for a child to start in six months time, parents seem quite keen to arrange somewhere asap, and mentioned retainers as something they're happy to do.

What's the current rate? For some reason I'm thinking 50%, but this seems like a lot???? Do you take a deposit (to pay off first month etc) too?

If you have a space now then 50% is OK

If you might have a space then - then it should be a deposit

I don't think I'd take both

I have the space now yes, and also someone interested in filling it, but this new child would actually be far more suitable.

For some reason I was thinking deposit as they could just stop paying???? I don't know why I thought both lol.

Is 50% the right amount? It seems so much for unused childcare. I know I'd be losing 50% of earnings, but I can feel for parents paying it still!

Well the other child could just give you notice (ie stop paying)

You could take the other child on a temp contract (if the parent goes for it) & then you could charge the retainer

But if the parent really wants the space she is paying you not to work. She could change her mind....but so could the other parent

I would say I normally charge 75% but as his hours/days etc fit in well I'll only charge 50% (you may have to be prepared to go lower - depends who can bargin better)

Would you really take 75%??

I suppose it's loss of earnings, but I'd just feel so guilty. I'm not a business woman!

This child would just fit in so well... hmm.

What do nurseries do? It's just a deposit and a waiting list isn't it?

I prob wouldn't (but I wouldn't tell the parent that)

She either pays the money or takes a chance on the place not being there

If you take a deposit then in 6 months she could just say forget it - you end up with 1 months income instead of 6 months

Also some of that time can be used to settle in a child

As I say you might not get away with 50% (I rarely have) but you can try

I can't be of any help whatsoever as I don't take deposits or retainers! I've usually had lots of notice about vacancies (children starting school/moving house etc.), and have managed to find a "replacement" for when that child leaves.

However, sometimes I haven't, but I guess I just take people on trust. I figure that the parents are going to be paying me a small fortune for the next few years (hopefully!) so I can waive any deposits/retainers.

I also know that I have been incredibly lucky with my families - nobody has done the dirty on me and I haven't had anybody say that they want me and then back out at the last minute. I think that I would probably change my mind if that started.

I also wouldn't be happy to charge 75% - most of my parents would struggle to find that sort of money, particularly if they weren't earning!

TP - I'd normally be trusting too tbh, but I will be holding this space open for 6 months - it's my only under 5s space (which means it's therefore my main source of income too as the only one that's fulltime) plus as I could fill it now I think I'd be silly not to take something, especially when the parents seem happy to give it!

I may say 50% and see what they say.. if they look stumped add in a quick 'its negotiable' perhaps.

I can't fill this space till September, even though I currently have it (due to having baby) so that's why it's 'empty' and there's a lot of out of work CMs around here...

I lost over £2K last summer when the 3 fulltime summer children I was due to have, backed out a fortnight before the summer holidays

I won't "not take a deposit/retainer" again for a long time

lunavix - I'd deffo take a retainer. Totally see what TP is saying but we have our own young children which makes a BIG difference to what we can earn i.e. don't have the full 3 under 5's space. If my own ds was over 5 and I could have 3 full timers then I'd probably be a bit more flexible but this income makes a big difference to my family as I'm sure it does to you too

If a parent is happy to pay 50% then I'd go for it but be prepared for if they don't seem happy (like you said, add in a 'it's negotiable'). I had someone once who wanted a space, knew about retainers and I think I offered the space for £150 a month which works out roughly 25% but that's only because I knew they wouldn't be able to afford the higher amount whilst she was on maternity pay.

Anyway, good luck whatever you decide

i always get poor parents on child tax credit who cant afford deposits/retainers
even though i have been done out of £1000 once i am still trusting and believe parents will pay me
the c/m next street always charges retainers and gets them but i'm too soft

Warning!!!!! make sure you DEFINATELY get a retainer, I've just been badly treated by a really nice mum who I thought I could trust.

I feel like giving up today, it just doesn't seem worth the hassle, especially as the lovely little one I look after every day is going to school, and I don't think I can manage on afterschool money. I only have 2 other part time little ones.
I'm really unhappy because I turned other mindees as I had promised to have this child. Should I just give in and go back to working for some one else?

Have you got contact numbers for any that you turned away? Perhaps you could contact them to see if they've sorted out their childcare yet?

that you've been treated badly.

never thought of this?!
rather would never have dared ask, but seems so obv, that if your asked to keep that place available until x months, then you are losing money that you could be making..i would also feel cheeky asking but saying norm is 75% and youll do 50% is good idea..and you could say that child could visit one-two days/afternoons etc a week for few hours to se how well they settle, giving parent time off to also get used to it?!..let me know how it went?

I always end up charging 1/3 as 1/2 seems a bit steep. Parents generally appriciate this as whenever I've said 1/2 is the norm they've seemed very shocked!