New Landlord-Tenant Bill May Force Missouri Landlords To Use PM

[Ryan Billingsley]

It is looking like this bill is going to pass in MO.  It states : 

All security deposits shall be held in a trust established by the landlord and deposited in a bank, credit union, or depository institution account in the name of the trustee.

As a landlord I am not happy about this.  It means I will have to  create a trust to hold the security deposits in.  I don't see the point in this.

What do you guys think of this new bill? Below is a link to the article I found discussing it.

http://stlouisrealestatenews.com/st-louis-rental-property/new-landlord-tenant-bill-make-force-missouri-landlords-use-property-managers/?Facebook