Deposits And Other Fun Things :)

[cillybean83]

currently, my contract/handbook states that i require 1 months notice of termination, or 1 months pay in place of notice...I do not require that money up front, and that has come back to bite me once...I'm thinking about switching to 2 weeks notice and having that 2 weeks income paid up front. It would state something like:

Due at registration: Payment for first week's care ($100), Payment for final 2 weeks of care ($200). If it is too financially straining to pay the full $300 up front you can pay $150 up front, and your weekly payments would be $150 for the first 3 weeks of care, to fully pay your deposit for the final 2 weeks. If either party decides to end care during the initial 2 week trial period, your $200 deposit (or however much was paid towards deposit) will be refunded.

Can someone help me word all that so it makes sense??

[daycare]

I do something similar. Only two of my families could not afford the deposit up front, so I made a special contract for them. Just used the normal one that I have and increased the payment until_______________date, when deposit has been fulfilled. When the deposit has been paid, I just change the contract to a normal one and have them resign it. Eaiser on me and the families don't seem to mind, since I am doing them a favor allowing them to make payments on their required deposit.

[Abigail]

This is what is in my contract. I guess I didn't write anything about giving it back if either party decided to not continue care during the two week trial. I would refund it though so I'm sure it will not be an issue and I should find a place to add it. Maybe under the trial period part in the contract.

I left mine in X's because I will decide later if I give the parent the choice to pay in a month or if I want to stretch it out further so they have lower weekly payments. I have both in here and will either remove one option if they can pay in full or I will just have ___________ for the X's and have an initial line for which payment method the parent chooses upon signing the contract.

Deposit
The client will pay $*** for the last two weeks of child care upon signing this contract.

The client will pay an additional $XX per week for X weeks until the last two weeks of child care has been paid.

[cillybean83]

thanks! i get all confused and over complicate things sometimes!

[daycare]

thanks! i get all confused and over complicate things sometimes!

I think we all do it from time to time...

[3kidzmama]

I have a question about this also. If I require the last two weeks pay up front as a deposit, and a two week notice before they leave my care... They give notice and then get the next two weeks without paying more because technically they've already paid those two weeks, right?? This is a bit confusing

[daycare]

I have a question about this also. If I require the last two weeks pay up front as a deposit, and a two week notice before they leave my care... They give notice and then get the next two weeks without paying more because technically they've already paid those two weeks, right?? This is a bit confusing

Yes that is correct. They give two weeks notice and their deposit is then used for those two weeks. It is for you safety that they don't up and leave without payment.

If they don't give two weeks notice they lose thier deposit.