Holding A Spot Deposit???

[Sprouts]

So far my current policy on holding a spot is one weeks tuition that will go towards the families last week, non refundable if it's to hold a spot for more then 2 weeks?

I heard of other providers who take one weeks deposit, non refundable that doesn't go towards anything.....


What are ur policies on this?

[bice99]

1/2 rate to hold for up to 2 month's. Due in the same manner as normal tuition. Non-refundable. Doesn't apply to anything. I'm losing money by holding the spot and let the family know that. Separate contract for that time period. All of my babies come to me after holds. And my teachers hold their spots over the summer.

[EntropyControlSpecialist]

1 week's tuition applied towards the first tuition payment.

Originally, I wasn't taking any security deposit. I got burned by reserving spots for a couple of families that never showed.

[mac60]

I just came here to post something on this. I just rewrote my holding policy, and am looking for opinions. I too have been burnt in the past and I currently have a couple people interested in a spot or two. 1 on maternity leave, and one not born yet.


HOLDING SPOTS
If you have a child in my care, and become pregnant, and you want to have the new baby be a part of my daycare family, I will require a $125 “good faith” fee to hold the spot. This would be a nonrefundable fee to show “good faith” that if I keep a spot open while you are pregnant that the child will be a part of my daycare family when you return to work. Payment arrangements can be made.

Holding Spots for new families: I will hold spots for new families at a rate of $25 per month. This will be a nonrefundable fee to show “good faith” that your family will be a part of my daycare upon the agreed upon date.

Somehow, $25 per mo sounds like nothing.

[momma2girls]

I have been burnt and so have daycare friends. I used to only have a 2 week deposit (nonrefundable and only goes towards the spot) then I was burnt on holding a spot for 10 months for someone. Now I do one week per month- I have friends that do have 1/2 the rate each week, or I have one that does $100.00 per month. Just make sure you do enough, to hold the spot and they cannot get out of it very easily.

[Michael]

https://www.daycare.com/forum/tags.php?tag=holding+spot+-+fee

https://www.daycare.com/forum/tags.php?tag=holding+spot+policy

[Unregistered]

charging parents a holding fee

I have been burnt and so have daycare friends. I used to only have a 2 week deposit (nonrefundable and only goes towards the spot) then I was burnt on holding a spot for 10 months for someone. Now I do one week per month- I have friends that do have 1/2 the rate each week, or I have one that does $100.00 per month. Just make sure you do enough, to hold the spot and they cannot get out of it very easily.

I have a friend that pays $100 a month to hold 2 spots for her 2 children to start in January. She has been holding the spots since August. She also payed 2 weeks deposit for when they start. The deposits every month are non refundable. She was told recently from the provider that due to unforseen circumstances she has to close her daycare down and is moving out of town,. Should the provider have to pay any of that back.

[DaisyMamma]

I have a friend that pays $100 a month to hold 2 spots for her 2 children to start in January. She has been holding the spots since August. She also payed 2 weeks deposit for when they start. The deposits every month are non refundable. She was told recently from the provider that due to unforseen circumstances she has to close her daycare down and is moving out of town,. Should the provider have to pay any of that back.

Yes! It sounds suspicious so I bet your friend won't see a penny.

Anyway, I have held a spot for 2 months with my standard 2 weeks deposit, which goes towards the last two weeks of care. It's non refundable. When I did this I had 3 or 4 open spots. I have only one spot now and I'm not sure I would do it. After all, you're basically giving up possible current income from someone who might call tomorrow wanting care to start next week. Then again, for the right family, why not?! It always depends on all the circumstances involved, I guess.

[littlemissmuffet]

All my deposits are non-refundable, so legally I wouldn't have to pay a parent back if I didn't/couldn't end up taking the child... but you better believe I would pay them back. That's awful! I take deposits so I don't get burned... nto so I can burn others.