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  #1  
Old 02-20-2018, 07:03 AM
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Default Policies On Two Week Deposit?

Right now all I require is a one week deposit to go towards the first week of care at the time of enrollment. I'm thinking of also requiring an additional two weeks for the last two weeks of care. I also have a one month trial period.

For those of you who have a similar policy do you refund the deposit for the last two weeks of care if they or you terminate care during the trial period?

Or do you allow them to wait until the trial period is over before you require them to pay the deposit for the last two weeks of care?

Do you require it all up front, or do you allow them to make payments over a period of time?

Thanks for any advice.
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Old 02-20-2018, 07:08 AM
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I require a deposit (applied ONLY to the final weeks of care IF proper notice is provided) and allow families to pay the deposit over the trial period.

Once the trial period is over, the deposit must have been paid in full or permanent enrollment is not given.

I never refund anything (other than maybe an extreme circumstance...)

Families pre-pay for care during the trial period a week at a time. The trial period is generally 2 weeks but I have extended it in some cases if I think it's worthwhile or beneficial to do so.
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Old 02-20-2018, 08:21 AM
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I require first and last week up front before the start of care. The first week goses towards their first week. The last week covers their last week of care, it goes towards last week of care (but may not cover it if prices have gone since they start care). So far I have not had to term during trial yet or have had parents do this. I would only refund if the spot was not held empty for any length of time. My contract is worded so that the deposit is non refundable if spot was open at all before start of care. (Don't all ways charge a holding fee)
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Old 02-20-2018, 02:57 PM
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I keep things vague in my policy book regarding refunds of deposits. The only time it is kept for sure is if a parent does not enrol once the deposit is paid.

I basically keep it vague because it really depends on the circumstances. I do require two week notice and expect this also during the trial period. I am allowed to terminate without notice at any time and will refund and have refunded if it was a kid issue (mainly seperation problems that could not have been predicted). Basically I will temrinate and refund money to get rid of them quicker If it is because of parental issues and not following policies etc (preventable issue) I will keep the deposit. Basically if a parent pretends to understand my policies and agrees but then is a total mess they get kicked out and I keep my deposit (has not happened yet!)
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Old 02-21-2018, 07:11 AM
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Thanks everyone for your replies. This gives me some things to consider and think about. Now all I have to do is figure out the correct wording in the contract.
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Old 02-22-2018, 06:47 PM
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I don't call it a deposit because Tom Copeland says not to. (He's got a reason but I don't remember it, and his saying not to is good enough for me )

At enrollment I require the enrollment fee and first week's payment. Within the first month of attendance I require payment for the last 2 weeks of care. This covers the last 2 weeks regardless of whether the rates go up or the family's schedule switches from FT to PT. (If it goes PT to FT I'd require payment of the difference for the last 2 weeks.) I don't have a trial period. IMO it takes more than 2 weeks for kids to relax enough to really be themselves.
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Old 02-23-2018, 07:45 AM
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Quote:
Originally Posted by AmyKidsCo View Post
I don't call it a deposit because Tom Copeland says not to. (He's got a reason but I don't remember it, and his saying not to is good enough for me )

At enrollment I require the enrollment fee and first week's payment. Within the first month of attendance I require payment for the last 2 weeks of care. This covers the last 2 weeks regardless of whether the rates go up or the family's schedule switches from FT to PT. (If it goes PT to FT I'd require payment of the difference for the last 2 weeks.) I don't have a trial period. IMO it takes more than 2 weeks for kids to relax enough to really be themselves.
Yeah I think he says to call it a holding fee if you don't want it to be refundable.

I agree it definitely takes longer than two weeks, especially if you get a lot of part timers like I do.
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Old 02-23-2018, 11:12 AM
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Quote:
Originally Posted by Homebody View Post
Yeah I think he says to call it a holding fee if you don't want it to be refundable.

I agree it definitely takes longer than two weeks, especially if you get a lot of part timers like I do.
My trial period is 6 weeks and it is up to you how long you want it to be. I find most terminal things come out well before the 6 weeks!
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Old 02-23-2018, 01:18 PM
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Quote:
Originally Posted by Ariana View Post
My trial period is 6 weeks and it is up to you how long you want it to be. I find most terminal things come out well before the 6 weeks!
I recently increased it from two weeks to one month because of the part timers I have. Two weeks wasn't long enough, but I agree most terminal things will come out by 6 weeks.
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Old 02-23-2018, 01:45 PM
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I do a one week deposit that goes to the last week of care. Payments are due on Fridays for the next week of care, so theoretically they would have to give notice as they were paying for the next week and then the deposit will cover their last week. If they don't provide two weeks notice they forfeit the use of the deposit.

My contract says if they pull or are terminated for any reason during the trial period (2 weeks) I will refund the deposit.
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  #11  
Old 02-23-2018, 02:09 PM
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Quote:
Originally Posted by TheMisplacedMidwestMom View Post
I do a one week deposit that goes to the last week of care. Payments are due on Fridays for the next week of care, so theoretically they would have to give notice as they were paying for the next week and then the deposit will cover their last week. If they don't provide two weeks notice they forfeit the use of the deposit.

My contract says if they pull or are terminated for any reason during the trial period (2 weeks) I will refund the deposit.
Thanks! I think I may keep with the one week deposit for the first week, and then have them pay an additional one week deposit for the last week of care (due when the one month trial is over). Most of the people we interview couldn't afford two or three week deposit upfront. And that makes sense that they would be giving a notice as they are paying for the next week and you have the deposit to cover for the following week.
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