holding fee, when to pay

[daycare]

Im just curios to know how you guys manage your holding fees.

I allow a max of two months hold. I require all money to be paid up front for that time. once past the two week trial, I will apply half of that to their tuition fees.

whats your policy on this??

[Cradle2crayons]

I don't apply any of the holding fees towards tuition or fees. A holding fee is just that. Holding the spot. I think some do apply it I just don't. If I can't fill that's pot while I'm waiting on them to start then that's why I charge a holding fee.

[daycare]

very ture. I guess I just look at the holding time when the child is not attending as a mini vacation...

[Heidi]

I take a deposit of two weeks tuition at the time of contract signing. That guarantees that I will hold their spot. It is applied to the LAST two weeks of care, and is non-refundable.

Tuition is paid on the first day of care and on the first day of care every week thereafter. The only stinky thing about this system is that it means that once notice is given, I no longer get paid, so it feels like I'm working the last weeks for free. I'm not...just feels that way.

[Blackcat31]

I don't require a holding fee or a deposit.

If a space is available, whoever wants it pays for it. (Regular rate)

I DO require a 2 week notice PER child when withdrawing from care though.

[daycare]

I take a deposit of two weeks tuition at the time of contract signing. That guarantees that I will hold their spot. It is applied to the LAST two weeks of care, and is non-refundable.

Tuition is paid on the first day of care and on the first day of care every week thereafter. The only stinky thing about this system is that it means that once notice is given, I no longer get paid, so it feels like I'm working the last weeks for free. I'm not...just feels that way.

funny how that feels like that. I pretty much work the same way...

However, my fees are paid monthly..

[EntropyControlSpecialist]

I take a deposit of two weeks tuition at the time of contract signing. That guarantees that I will hold their spot. It is applied to the LAST two weeks of care, and is non-refundable.

Tuition is paid on the first day of care and on the first day of care every week thereafter. The only stinky thing about this system is that it means that once notice is given, I no longer get paid, so it feels like I'm working the last weeks for free. I'm not...just feels that way.

This is exactly what I do. It will hold their spot for TWO weeks before they start, but no more than that.

[AnneCordelia]

I will hold one spot at a time for as long as a year. I have one spot being held now for 1/2 price until October when she starts. I have her sibling in care now. I only hold spots for siblings.

[Heidi]

I should add that "holding a spot" is totally at my discretion. If I think it's a good family and I have an opening coming up, I will hold a spot, but I don't have a written policy regarding it. I would rather go at not-full capacity for a while, if necessary, and find a good fit.

That said, it doesn't always work. I signed on a family in January for a May 1. She was still pregnant at the time. We had several talks about the do's and don'ts of daycare over the next few months, and she came over for visits a couple times. She only needed care for May, then none for the summer (teacher), then coming back in August.

I realized in May that this family will not be a good fit. Rocking baby, no cry, expecting me to "hold off" baby for over an hour so that mom can nurse. Lovely people but I just know it will always be something. So, I will be terminating in the next week or so via letter, and will return their deposit. It only seems fair since they cannot use their two-weeks deposit for care.

[daycare]

I agree, I will only do it if I think that the family will be a good fit. I have had my fair share of families that I could have done without, so I make sure that they are right for my program.