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  #1  
Old 01-08-2017, 04:13 PM
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Default Deposit vs 2 Week Notice

I have two options when signing my contract, you can pay 3 weeks up front (first week plus two week notice) or you can pay just the first week and are required to give 2 week notice when leaving. Nobody has ever chosen to pay the 3 weeks (and I didn't assume they would) but I put it on there more to get their attention and remind that a 2 week notice is required. In nearly 10 years this hasn't been a problem, until my last oh so crazy dcm.
Long story short, do you require a deposit, or just 2 week notice? Maybe both? I was thinking about asking for a deposit, but adding it to the first month of care (so I would get my 2 weeks, but they wouldn't have to pay for 3 up front)
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  #2  
Old 01-08-2017, 06:53 PM
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I charge a monthly tuition fee due by the 1st of the month. In my contract and handbook it states that families must provide a written termination notice at least 30 days prior to the child's last day and the last day must be the end of the month and no refund if leaving earlier than the last day of the month (full tuition is due regardless of attendance). If I terminate care for any reason I will refund any unused days.
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Old 01-08-2017, 08:53 PM
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How do you enforce the two weeks notice if you didn't take a deposit?
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Old 01-09-2017, 06:12 AM
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Originally Posted by Pestle View Post
How do you enforce the two weeks notice if you didn't take a deposit?
This. While I've never had an issue, usually money is the only way to get compliance.
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Old 01-09-2017, 06:27 AM
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I require first and last week up front. Then ask for two weeks notice. If notice is not given they losse out on care and their deposit for the last week. Parents pay on last day of care (most kids pay on the friday) the week before for the following week.
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  #6  
Old 01-09-2017, 08:16 AM
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Quote:
Originally Posted by Pandaluver21 View Post
I have two options when signing my contract, you can pay 3 weeks up front (first week plus two week notice) or you can pay just the first week and are required to give 2 week notice when leaving. Nobody has ever chosen to pay the 3 weeks (and I didn't assume they would) but I put it on there more to get their attention and remind that a 2 week notice is required. In nearly 10 years this hasn't been a problem, until my last oh so crazy dcm.
Long story short, do you require a deposit, or just 2 week notice? Maybe both? I was thinking about asking for a deposit, but adding it to the first month of care (so I would get my 2 weeks, but they wouldn't have to pay for 3 up front)
I require a deposit equal to the notice period.
My notice period is 2 weeks PER child.
I allow 30 days for the deposit to be paid in full.


The deposit is applied to the final weeks of care IF proper notice is given.

If I terminate care and just want a family gone, I refund the deposit and just terminate immediately.

I wouldn't give parents the option between paying now or giving notice later... it would be a the rare family that opted to pay up front when given a choice. Plus when you go into a contract both parties are wanting to work together productively.

Usually most withdrawals occur under less than desirable circumstances and tensions are usually strained so money becomes a huge focus of conflict so I think collecting BEFORE works better than trying to collect AFTERWARDS.
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  #7  
Old 01-09-2017, 08:46 AM
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My deposit is the last two weeks of care. I just call it a deposit because it is paid upfront and doesn't get used until termination of contract.
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  #8  
Old 01-09-2017, 12:11 PM
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I require a 2 wk dep and a week in advance. Parents are ahead three weeks every friday after paying. Two every Friday before paying. So if they come in on Friday, give notice, they don't owe again.
If they come in on Friday and pay, they can attend a whole week before deciding to pay or not on Friday.
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Old 01-09-2017, 12:21 PM
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I require first week and final 2 weeks' pay upfront. I do NOT call it a deposit-deposits are refundable-my final 2 weeks' pay is NOT refundable. You can use it or you can walk away from it, but you can not get it returned.
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  #10  
Old 01-09-2017, 03:13 PM
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I require payment for the first week up front plus an extra $50 towards the final two weeks of care. Then each week an extra $25 a week is added to the weekly tuition until the two-week fee is paid in full. It gives new clients 6 weeks to pay it, most pay it in 4. Like BC, if I want to terminate a client quickly I just refund them their money.
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  #11  
Old 01-09-2017, 06:10 PM
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Quote:
Originally Posted by Pestle View Post
How do you enforce the two weeks notice if you didn't take a deposit?
That's the thing, I've been doing this for almost 10 years and have never had to "enforce" it. Everyone has given a 2 week notice without a problem until the last family we had leave after only a month (because I so rudely asked her to pay for the care being given...)

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Originally Posted by Blackcat31 View Post
I wouldn't give parents the option between paying now or giving notice later... it would be a the rare family that opted to pay up front when given a choice. Plus when you go into a contract both parties are wanting to work together productively.
We didn't really expect anyone to choose to pay the 3 weeks up front, but it was more to bring attention to that section and make sure parents know there was a 2 week notice required (we had parents not paying attention to this previously, and since putting the "option" we haven't had problems with it)

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Originally Posted by MarinaVanessa View Post
I require payment for the first week up front plus an extra $50 towards the final two weeks of care. Then each week an extra $25 a week is added to the weekly tuition until the two-week fee is paid in full. It gives new clients 6 weeks to pay it, most pay it in 4. Like BC, if I want to terminate a client quickly I just refund them their money.
This is similar to what I was thinking of doing. Breaking up the "deposit" over a month or so. I was thinking of saying the first month was $XX.xx(my regular rate plus a division of the 2 weeks) per day then $XX.xx (my regular rate) after the first month. .. (does that make sense?)
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  #12  
Old 01-09-2017, 06:16 PM
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I don't have either a deposit or two week notice policy.

Payment on Mondays for the week in advance.

No pay/No stay.

I do not re-enroll. Next!

I keep a wait list.

I like simple.
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Old 01-09-2017, 06:56 PM
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Wow 10 years and everyone has given 2 weeks notice that is great. I have been doing this three years and I recently had to start requiring a 2 weeks non refundable deposit on top of the first week because 80% of the people that left did not give notice and I was turning down people left and right for a spot I didn't know I needed to fill. I have had a waiting list before but the families moved on quick and we're not interested by the time I had a spot. The 2 weeks notice is important for me so I can fill the spot.
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  #14  
Old 01-09-2017, 06:57 PM
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Quote:
Originally Posted by Pandaluver21 View Post
That's the thing, I've been doing this for almost 10 years and have never had to "enforce" it. Everyone has given a 2 week notice without a problem until the last family we had leave after only a month (because I so rudely asked her to pay for the care being given...)


We didn't really expect anyone to choose to pay the 3 weeks up front, but it was more to bring attention to that section and make sure parents know there was a 2 week notice required (we had parents not paying attention to this previously, and since putting the "option" we haven't had problems with it)


This is similar to what I was thinking of doing. Breaking up the "deposit" over a month or so. I was thinking of saying the first month was $XX.xx(my regular rate plus a division of the 2 weeks) per day then $XX.xx (my regular rate) after the first month. .. (does that make sense?)
Yes it makes sense. You're pretty much saying that if your rate was $175 per week that breaks down to $35 a day but you'll take the amount of the 2 weeks ($350) and divide it up by let's say 4 weeks (20 days, coming out at an extra $17.50 per day = $52.50). So pretty much instead of paying $175 a week the first 4 weeks they'll pay $262.50 per week. AmIright?
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  #15  
Old 01-10-2017, 02:02 PM
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Quote:
Originally Posted by MarinaVanessa View Post
Yes it makes sense. You're pretty much saying that if your rate was $175 per week that breaks down to $35 a day but you'll take the amount of the 2 weeks ($350) and divide it up by let's say 4 weeks (20 days, coming out at an extra $17.50 per day = $52.50). So pretty much instead of paying $175 a week the first 4 weeks they'll pay $262.50 per week. AmIright?
Yes that's what I was thinking. Do you think it would be more offputting to parents to day it that way, or would a "deposit" look better? I though saying "your rate is X for the first month and then goes down!" sounds better than "three full weeks up front"
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Old 01-10-2017, 02:21 PM
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(it just accrued to me double posting may be against the rules, if so how do I delete this one?)

Quote:
Originally Posted by TXhomedaycare View Post
Wow 10 years and everyone has given 2 weeks notice that is great. I have been doing this three years and I recently had to start requiring a 2 weeks non refundable deposit on top of the first week because 80% of the people that left did not give notice and I was turning down people left and right for a spot I didn't know I needed to fill. I have had a waiting list before but the families moved on quick and we're not interested by the time I had a spot. The 2 weeks notice is important for me so I can fill the spot.
I think in the past people were not as selfish as they are now :/ It's sad how much I have to add to my handbook/contract each year because of something that has happened to me, or another provider has told me about! Good luck with your spots!
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Old 01-10-2017, 02:32 PM
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Quote:
Originally Posted by Pandaluver21 View Post
(it just accrued to me double posting may be against the rules, if so how do I delete this one?)


I think in the past people were not as selfish as they are now :/ It's sad how much I have to add to my handbook/contract each year because of something that has happened to me, or another provider has told me about! Good luck with your spots!
No rules on double posting...post away!
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  #18  
Old 01-10-2017, 04:32 PM
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Quote:
Originally Posted by Pandaluver21 View Post
Yes that's what I was thinking. Do you think it would be more offputting to parents to day it that way, or would a "deposit" look better? I though saying "your rate is X for the first month and then goes down!" sounds better than "three full weeks up front"
Here's what I do. I tell parents that they MUST pay in advance every week. I tell them that they MUST pay final two weeks', as well. I give them the option of paying the final two weeks' on a payment plan...I give them a form to come up with their OWN method of paying that final two weeks' and give them 8 weeks to get it paid (they can make payment weekly, monthly, whatever). It gives them flexibility in making that payment, and it doesn't hurt so much as paying all at once.
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  #19  
Old 01-13-2017, 02:38 PM
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Thanks everyone, I'm bummed that I have to ask for it up front after all these years, but I guess it's just needed now! Great suggestions!
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