Amoso Properties LLC Amoso Properties Collected Residential Rental Deposit and spent it instead of holding it as required Saint Charles Missouri

Tenant gave this property manager over $700 in security deposit at the start of the lease.

Instead of holding the funds, or giving the funds to the building's owner, they spent the funds on repairs and maintenance when they went over budget. Their own disbursement ledger shows the funds were not released to the building owner. 

The building's owner did not find out about the funds being spent until Amoso Properties LLC terminated their services. Amoso was caught billing for services not rendered, then insisting they were done, until photos revealed the services were not done.

At the termination, Amoso disclosed the funds were not being held, and in fact had been spent when they went over budget. The State of Missouri requires " All security deposits shall be held by the landlord for the tenant, who is a party to the rental agreement, in a bank, credit union, or depository institution which is insured by an agency of the federal government. "

This property manager acting as an agent for the landlord broke this rule, spent the money, and left the out of state building owner with an unplanned debt to pay to the tenant.