Holding Fee?

[NillaWafers]

I have two girls (cousins) signing up tonight. My opening begins on the 10th but they don't want to start until the 24th (vacations ect). Would it be ridiculous to charge a holding fee of some sort? What's reasonable?

I am just a little burned from the last person who signed up and just decided to bail without telling me. I will be not earning anything from those spots for almost a month and that feels a little unfair. I will be requiring deposits at signing now, so I also don't want to overwhelm them with fees (registration, deposit, holding fee).

What say you?

[Blackcat31]

Originally Posted by NillaWafers

I have two girls (cousins) signing up tonight. My opening begins on the 10th but they don't want to start until the 24th (vacations ect). Would it be ridiculous to charge a holding fee of some sort? What's reasonable?

I am just a little burned from the last person who signed up and just decided to bail without telling me. I will be not earning anything from those spots for almost a month and that feels a little unfair. I will be requiring deposits at signing now, so I also don't want to overwhelm them with fees (registration, deposit, holding fee).

What say you?

I don't hold spaces. Period.

If a space is open and available I charge full rate for it.

If a parent didn't want to start when the opening is available then it goes to the next person wanting it.

I refuse to take a financial loss due to someone else's circumstances. I cost myself enough money.

If you are wanting to save the space and since it's only a small time period, I would suggest offering the space at 50% its regular rates maybe...

If you want to go lower than that, I have no advice. I've never done that as I'd rather continue looking than to wait on someone else.

[Heidi]

I have them pay me a deposit equal to one week's pay at the time they turn in their contract. That holds their spot. It is applied to the LAST week of care. Payment for the first week is due at arrival on Monday, and every Monday thereafter.

For infant spots, I do two weeks deposit. A, because I can get it, and B, because they are primo spots and it often involves waiting 6-8 weeks.

[NillaWafers]

Originally Posted by Blackcat31

I don't hold spaces. Period.

If a space is open and available I charge full rate for it.

If a parent didn't want to start when the opening is available then it goes to the next person wanting it.

I refuse to take a financial loss due to someone else's circumstances. I cost myself enough money.

If you are wanting to save the space and since it's only a small time period, I would suggest offering the space at 50% its regular rates maybe...

If you want to go lower than that, I have no advice. I've never done that as I'd rather continue looking than to wait on someone else.

Yeah it's not super long. Two weeks from the date I have the opening. If it was a month I'd be like pay for the space or leave. I guess that's why I was ok with the other person who blew me off signing up - it was only two weeks. I feel like I need to charge a fee to show her I'm serious. I will also have her deposit so there is that.

[NillaWafers]

Originally Posted by Heidi

I have them pay me a deposit equal to one week's pay at the time they turn in their contract. That holds their spot. It is applied to the LAST week of care. Payment for the first week is due at arrival on Monday, and every Monday thereafter.

For infant spots, I do two weeks deposit. A, because I can get it, and B, because they are primo spots and it often involves waiting 6-8 weeks.

I already charge a two week deposit that is due at signing. That goes towards their last two weeks of care. So I am just worried that the two week deposit (220), registration fee (50) plus a holding fee will make them balk at signing up.

I'm probably way overthinking it because I have pretty low rates for what I offer (new in the business). I could probably find someone to start on the 10th if I honestly tried.

[Heidi]

Originally Posted by NillaWafers

I already charge a two week deposit that is due at signing. That goes towards their last two weeks of care. So I am just worried that the two week deposit (220), registration fee (50) plus a holding fee will make them balk at signing up.

I'm probably way overthinking it because I have pretty low rates for what I offer (new in the business). I could probably find someone to start on the 10th if I honestly tried.

Wow, so they paid you that much and still flaked? I've never had that happen. I am going to assume it was non-refundable.

Yes, I think that asking for all that wouldn't fly, but maybe in your area it would?

[NillaWafers]

Originally Posted by Heidi

Wow, so they paid you that much and still flaked? I've never had that happen. I am going to assume it was non-refundable.

Yes, I think that asking for all that wouldn't fly, but maybe in your area it would?

I live in Los Angeles. Rates are kinda on the higher side here.

I actually changed my policy because of that parent. Before the deposit was due on the first day. Now it's due on signing.

[Blackcat31]

Originally Posted by NillaWafers

I already charge a two week deposit that is due at signing. That goes towards their last two weeks of care. So I am just worried that the two week deposit (220), registration fee (50) plus a holding fee will make them balk at signing up.

...but technically they would only be out the $50 registration fee if they enroll and attend since the deposit WILL be applied to services.

Make sure you point that out to them if they give you a hard time about all the upfront fees.

[Baby lady]

Originally Posted by NillaWafers

I live in Los Angeles. Rates are kinda on the higher side here.

I actually changed my policy because of that parent. Before the deposit was due on the first day. Now it's due on signing.

Off topic, where in LA are you? I'm in the Pasadena area

[NillaWafers]

Originally Posted by Baby lady

Off topic, where in LA are you? I'm in the Pasadena area

Same area I live in San Gabriel.

I tried to take a holding fee, 50/week but they were extremely against it and I gave in. Sigh. No backbone. But I did get a deposit so I'm going to assume they WILL show up on their first day.