Daycare.com Forum

Go Back   Daycare.com Forum > Main Category > Daycare Center and Family Home Forum

Daycare Center and Family Home Forum Daycare Center and Family Home owners, Directors, Operators and Assistants should post and ask questions here.

Reply
 
Thread Tools Display Modes
  #1  
Old 01-19-2018, 11:37 AM
Core12's Avatar
Core12 Core12 is offline
Daycare.com Member
 
Join Date: Oct 2016
Location: Missouri
Posts: 90
Default What Is Your Deposit Policy?

Currently, my policy is to get one week deposit to hold a spot and then it will be used for the last week their child is in care. I have been reading other posts and noticed a lot of ppl are stating their deposit is non refundable...just wondering if maybe that would work for me.
Reply With Quote
  #2  
Old 01-19-2018, 11:59 AM
TheMisplacedMidwestMom's Avatar
TheMisplacedMidwestMom TheMisplacedMidwestMom is offline
Daycare.com Member
 
Join Date: Sep 2016
Location: Alaska
Posts: 735
Default

One week deposit, refundable during the first two weeks of care if EITHER party terminates regardless of reason. After that, my contracts states "Deposit will be applied to last week of care when contract is terminated with a full two weeks notice."

Families pay on Friday for the next week. So theoretically they would give me notice as they paid for one week and they deposit would go to the week after that.
Reply With Quote
  #3  
Old 01-19-2018, 12:34 PM
Blackcat31's Avatar
Blackcat31 Blackcat31 is offline
 
Join Date: Oct 2010
Posts: 16,639
Default

I require a deposit equal to the time I require for notice of withdrawal. Some families must provide a notice of withdrawal that is more than 2 weeks depending on the number of children in their family.

I apply the deposit to the final weeks of care so it wouldn't be refunded but instead used or spent towards their final weeks of care.

On certain occasions, I have waived that policy and refunded a parent their paid deposit but under very specific and individualized situations and only as my call not something that I list or state openly in my contract/policies.
Reply With Quote
  #4  
Old 01-19-2018, 12:50 PM
Unregistered
Guest
 
Posts: n/a
Default

I have a $100 non refundable enrollment fee. Itís worded in my contact that it goes towards things I will purchase or may have already purchased for the new child. Iíve never had a parent complain or question it. I also require two weeks notice to terminate care. The enrollment fee does not go towards it.
Reply With Quote
  #5  
Old 01-19-2018, 12:53 PM
Mom2Two's Avatar
Mom2Two Mom2Two is offline
Daycare.com Member
 
Join Date: Jan 2015
Location: U. S. A.
Posts: 1,239
Default

Quote:
Originally Posted by Unregistered View Post
I have a $100 non refundable enrollment fee. Itís worded in my contact that it goes towards things I will purchase or may have already purchased for the new child. Iíve never had a parent complain or question it. I also require two weeks notice to terminate care. The enrollment fee does not go towards it.
I might make a change to doing that in the future.
Reply With Quote
  #6  
Old 01-19-2018, 02:24 PM
Ariana's Avatar
Ariana Ariana is offline
Advanced Daycare.com Member
 
Join Date: Jun 2011
Posts: 6,612
Default

I take a two week deposit. This deposit applies to the last two weeks of care, I only take it because of issues of people leaving without notice because I get paid AFTER care has occurred. This way I am covered. It happened to me once last month!

The only time it is not refunded is if the family does not start when they say they will.
Reply With Quote
  #7  
Old 01-19-2018, 03:21 PM
MarinaVanessa's Avatar
MarinaVanessa MarinaVanessa is offline
Family Childcare Home
 
Join Date: Jan 2010
Location: Ventura County, CA
Posts: 7,146
Default

Quote:
Originally Posted by Core12 View Post
Currently, my policy is to get one week deposit to hold a spot and then it will be used for the last week their child is in care. I have been reading other posts and noticed a lot of ppl are stating their deposit is non refundable...just wondering if maybe that would work for me.
Using a "deposit" and applying it towards their last week of care IS having a non-refundable policy. You aren't giving them the money back, you are applying it towards something. You just have to say that it's non-refundable.

I don't call it a "deposit", I call mine a "fee". The word deposit insinuates that you get it back and since I don't give it back I call it a fee instead. Tom Copeland has a good article about it http://tomcopelandblog.com/how-would...rs-program-and.
I don't call it a "holding fee" like Tom suggests but that's because I have a separate fee that I charge if someone wants to start later than a week (I don't hold spots if they're not going to start within a month).

I charge all new full-time clients a flat two-week security fee of 2 weeks worth of full-time care, and part-timers 2 weeks worth of part-time care. If part-timers move up to full-time care then pay the difference in the deposit. If part-timers later move back down to part-time they can give me enough notice to cover their holding fee or they lose it, it's non-refundable.

So for example if a part timer enrolls for 3 days at $155 a week they pay a two-week security fee of $310 plus $155 for the first week of childcare. If they don't want to start within a week then there's a weekly holding fee on top of that.
Later if they move up to full-time then they pay an additional $90 to go towards their 2-week security fee.
If they move back down to part-time then they can give me a minimum of 2 weeks notice but if if they give me less notice than their security fee covers then they don't get a refund for the difference.
__________________
Daycare Ninja, CA
Helping Hands Childcare
Reply With Quote
Reply

Tags
deposit - won't refund, deposit policy, deposits

Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Policy Help! Mummy101 Daycare Center and Family Home Forum 8 07-28-2017 10:18 AM
Considering Changing 2 Week Deposit Policy earlystart Daycare Center and Family Home Forum 6 01-15-2015 03:53 PM
"Final week of care" deposit, but excluded for illness? EchoMom Daycare Center and Family Home Forum 7 08-31-2014 06:14 PM
Policy Help...Please melilley Daycare Center and Family Home Forum 7 12-12-2012 09:33 AM
Holding Deposit - What is Your Policy? momma2girls Daycare Center and Family Home Forum 5 12-10-2009 11:25 AM


All times are GMT -7. The time now is 09:27 AM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming