authority: 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993. broker money received in connection with property management.
This rule makes other specific requirements for the handling of
escrowed funds.
20 CSR 2250-8.200 Management Agreement Required
(1) A broker shall establish and maintain a separate escrow
PURPOSE: This rule regulates the employment contract between account(s), to be designated as a property management escrow
a broker and a member of the public so that the public will know account(s), for the deposit of current rents and money received
what s/he may expect from the licensee who is managing the from the owner(s) or on the owner’s(s’) behalf for payment
leasing or rental of real estate. of expenses related to property management. Before making
disbursements from a property management escrow account, a
(1) When managing property a licensee shall not rent or broker shall ensure that the account balance for that owner’s(s’)
lease, offer to rent or lease, negotiate, or offer or agree to property(ies) is sufficient to cover the disbursements.
negotiate, the rent or lease, list or offer to list for lease or rent,
assist or direct in procuring of prospects calculated to result (2) All security deposits held by a broker shall be maintained,
in the lease or rent, assist or direct in the negotiation of any intact, in an escrow account other than the property
transaction calculated or intended to result in the lease or management account(s), pursuant to section 339.105, RSMo,
rent, or show that property to prospective renters or lessees unless the owner(s) have agreed otherwise in writing.
unless the licensee’s broker holds a current written property
management agreement or other written authorization signed (3) All money received by a broker in