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Post by otmama on Sept 21, 2007 6:01:47 GMT
Hi there. I'm a newbie to this site, and have been childminding for nearly three weeks. I have four children on my books, and the issue of a deposit hasn't arisen yet, although I've just realised that I should have included it in my policies! Can anybody give me advice on how much to charge for a deposit? Does anyone charge a fixed fee, or do you base it on a weekly fee?
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Post by mel on Sept 21, 2007 7:04:29 GMT
I think it depends on each minder. If the place is not available yet, you charge a one off deposit to secure the place until a certain date when you know the place is becoming available. If the parent doesn't want to start yet, you charge a retainer which is a pecentage of the weekly fee and can be paid as a one off or per week
Hope this helps
Mel x
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Post by susi513 on Sept 21, 2007 10:20:17 GMT
I now ask for a months deposit, which I keep until the end of the childminding agreement. I've put on the receipts & contract "interest does not accrue" which I'm told is sufficient to avoid paying the parents interest, as I may be holding on to their money for some time.
Sometimes people want to start straight away, which doesn't give them much time to find a deposit AND the advance payment I require. Hasn't been a problem yet, but I'd be prepared to take the deposit in instalments added to their first few payments.
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Post by saira172 on Sept 21, 2007 11:58:41 GMT
Hi! I ask for a deposit equivalent to one weeks fees which is refundable against the first weeks care but not returnable if they chose not take up the place. Interested to hear more from you Susi as I thought we couldn't hang on to it anymore...in the same way that landlords have to have a deposit holding scheme. I've been lucky not to get stung at the end of a contract yet but I'm sure it's probably only a matter of time! Saira
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