Originally Posted by Unregistered:
So I have an ex-family, that moved and is now back in town, that was supposed to start siblings in early February, after maternity leave, but it's now April and mom is still job searching. They have moved their start numerous times and i am constantly reaching out for updates. Today they said it could be into May or June before the kids start. After they changed their start date 3 times I finally nailed them down on a contract for a deposit and holding fee (1/2 weekly rate per week to hold). Now that they are pushing the date again I just want to release the spots to the waiting list and cut my loses. I'm out nearly $5,400 keeping those spots open for them since Jan 1st. They have paid around $1,200 over the last 7 weeks to hold them. If I tell them I'm opening the spots to the waiting list and they can contact me once mom finds work to see if I have availability would you refund all of their holding fees and deposit? I know they will ask. My contract is very detailed but I don't have anything about whether the holding fee is refundable because I always assumed those folks would eventually attend. Any advice?
For me, a holding fee is not refundable. The deposit could be refunded, but the point of a holding fee is to make income while you wait for them to attend full time. Many ask for full weekly fees to hold the spot, so I think because you asked for half, you are feeling the burn of waiting on them to utilize the full spot. I would give them one last chance. Tell them they have till XX date to begin attending or the spot will be given to someone else and the deposit will be refunded.