What do you do if you were holding a spot for a child for an extended period of time? Several months. Do you have them pay a deposit and that's it or do you also have them pay a little each week or month to help your income since you cannot fill the spot?
Thanks for the info!
I rarely do this because too many times something has happened in between and they don't end up coming on... On the rare occasion that I did hold a spot far in advance, I did have them pay a deposit of two weeks, which I think I have written in my contract as non-refundable if they choose not to take the spot.
It depends on what the demand for care is in your area, but I've always opted for a wait list instead.
I never hold a spot unless I have no other kids wanting that spot. If they want it they have to take it or pay the full amount. You will be losing that amount of money each week until they decide they want to start. What if something happens, what if one of them is in an accident and they can no longer work, you have waited and lost that interim money with nothing to show for it.
I think you have to be honest and tell them that you do not have the funds to hold the spot. If you have openings when they are ready you can take them. BUT until then you have to have an income.
I have them pay one week's pay for every four weeks I hold the spot for them - for example, $200 (one week's pay) per month, if the spot is open and I could have filled it with someone else, but they don't need it yet. It's to make holding the spot open for them less financially painful for me, and assure me they are making a serious commitment (not ask me to hold it for months and turn away other potential clients, then they bail and say, "Oh, we decided to have Grandma take care of the baby.") It helps both of us keep our commitment.
If it were a traditional center, she would most likely have to pay full price to hold the spot. I think you are being too nice. She needs to either pay for the spot, or you need to fill the spot. I can see holding it for a week or 2, but several months is excessive & taking advantage of you.
If they want the spot, they have to pay for the spot. I certainly would not turn away a paying customer because I was "holding" a spot for someone. Unplanned things happen - if you hold the spot and they change their mind, you have done yourself a disservice.
I would suggest a written agreement where they pay at least 1/2 price for holding the spot and that if they change their mind, they must pay the 1/2 price that they weren't paying for you to hold the spot.
I have never needed to hold a spot that long (15 years in home care). The one time I did it was for a sibling of a current great family and was for about 2 mos longer than the spot opening. But other than that , with siblings being born or new families, it just always worked out within a week or 2 of openings.
But....I had 2 infant spots opening up this summer. I had a family pursuing me very strongly, so I finally interviewed with them. She was barely pregnant! But I decided if they wanted the spot that bad, I would add a holding fee policy to my book. It is minimal, only a 1/4 of the weekly rate (so the same essentially as the other poster who said a weeks pay each month). I could have asked for more and I think they would have gone for it, but I am happy with this. The baby should not start until Labor Day week, which works for me in many ways (I need some time off to get my daughter off to college in late August, plus I start online college classes for a further Child Dev degree in the fall, so it gives me a week or 2 to get that started and to adjust, etc).
You need to decide what its worth to you, how heavy your local market it with interview potentials (mine had a ton), and if you really like this family and you mesh well (that was a big reason I decided to do do the holding fee...I had to have something $$ to hang onto it, and to see how truly committed this family was to me).
Good luck!!
I will hold a spot for a little one if I know I have one coming available. I ask for the first weeks payment as a down payment. It is not an extra payment, I credit that toward the first week of care. I feel that if I get this payment I won't have someone make a flighty decision and say they want the spot and then leave me hanging. I have a form that we both sign that states that this payment is non-refundable.
M.
