Property Management
A Missouri property manager who collects more rent than is owed and keeps the excess is guilty of:
AA minor administrative error
BConversion (unlawful taking) of client funds and a potential MREC violation✓ Correct
CA civil contract breach only
DIncome tax evasion
Explanation
Collecting and retaining more than the entitled amount from tenants or property owners constitutes conversion of funds and violates fiduciary duties. This is also an MREC disciplinary matter under Chapter 339 RSMo.
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