Deposit?

[MissMaries]

How do you do your deposit?
Mine currently is 2 weeks deposit for first and last week of care.
I was wondering if anyone did anything different???

[craftymissbeth]

Mine is currently a two week non-refundable deposit good as a credit towards the last two weeks of care. They have the option to pay it all up front or to split it into payments.

[ihop]

I do last two weeks as a deposit sing I require 2 week notice plus first week payment in advance. It works well and I never go wothout pay that way.

[MissMaries]

I think that is what I need to switch mine to.
Thanks

[MarinaVanessa]

I require a two week non-refundable deposit (which pays for their last two weeks of care) AND payment for the first week of care the morning that they start daycare THE LATEST. I don't hold spots though unless they pay the two week deposit and sign a contract.

In some cases I allow a payment plan if they can't pay the full deposit up front so the new client will pay the first week of care plus $100 and then their weekly fee plus $50 each week after until the deposit is paid in full. Then they just pay their regular weekly rate.

I also require payment in advance of care so my clients pay their fees on Friday (some people do it Monday) which pays for next week. If they don't pay on time I add a $10 fee per day that it's late which includes Saturdays and Sundays and if by Monday they don't pay their child care fees including the late fees then they are refused care. Any days that they miss because they paid late are not discounted, they just miss the day. This helps prevent clients from paying late.

If they have a start date longer than 2 weeks then I require a holding fee of $50 per week until their start date but they must give me a specific start date (stated on the contract) and they must start that day or pay the full amount for any weeks after it. The holding fee is non-refundable and not credit towards child care. It's a fee that I charge to hold a spot for a child.

[blandino]

I require that they pay for their second week of daycare to consider their opening reserved for them.

[butterfly]

I do an "enrollment fee" - same as a deposit, but I didn't want them to think they'd get it back. To me a deposit seems like something you'd get back if you fullfilled some requirements...

Anyways, the enrollment fee holds their spot - if they choose not to enroll after paying their enrollment fee, it's not refundable. I then "apply" it to their last week of care if they do start care with me. The enrollment fee is equal to one week's rate.

I had started out having the parents pay for care at the end of the week after care was provided. I had got stiffed once. I decided to start the enrollment fee so they are essentially paying ahead for care, but the parents don't feel like they are. Most providers here don't have clients prepay.

So if a client of mine quit without notice, I'd be out my notice period (2 weeks in my contract). But they would be paid up for the care that was provided. If a client leaves without notice, I'm not really that concerned about it. If they are someone who isn't going to fullfill the 2 week commitment, I don't want them here anyways. I'm enough of a planner that loosing those 2 weeks pay isn't that big of deal either.

[Leigh]

2 weeks non-refundable, but applicable to last 2 weeks of care for a deposit. They must also pay the first week upfront (so, 3 weeks pay upfront).