Mississippi Security Deposit Collections & Holdings

Mississippi Security Deposit Collections & Holdings

Last Updated: March 3, 2023 by Ashley Porter

To learn about laws on security deposit returns in Mississippi, click here.

Maximum Security Deposit Allowed in Mississippi

There is no limit on the maximum security deposit in Mississippi. Many states have a limit on the amount of security deposit that can be collected, but Mississippi does not.

Can Landlords Charge an Additional Pet Deposit in Mississippi?

In Mississippi, landlords can charge a pet deposit, except for service dogs and emotional support animals.

How Much Rent Can a Landlord Collect Upfront in Mississippi?

There is no limit on the amount of rent that can be collected upfront in Mississippi. Many states have a limit on the amount of rent that can be collected at once, but Mississippi does not.

Security Deposit Collections in Mississippi

While other states have additional requirements for landlords that collect a security deposit, such as providing certain documentation of the condition of the unit at move-in, Mississippi does not.

Do Landlords Have to Provide a Receipt for the Security Deposit in Mississippi?

Although some states like Washington require a receipt, landlords are not required to provide a receipt for the security deposit in Mississippi.

What Obligations Do Landlords Have to Establish the Condition at Move-in in Mississippi?

Mississippi law does not have specific obligations before a tenancy. While other states like Washington have pre-tenancy obligations like a written inventory of damages, Mississippi does not.

Security Deposit Holdings in Mississippi

Mississippi law does not require landlords to hold security deposits separate from other funds. Some other states mandate how and where security deposits are held, but Mississippi does not.

Are Tenants Entitled to Interest on Their Security Deposit in Mississippi?

Mississippi law does not require landlords to provide interest on held security deposits.

How Are Security Deposits Accounted for in Mississippi?

Security deposits are not considered taxable income when they are collected.

What Happens to a Security Deposit When the Property is Sold in Mississippi?

Mississippi law does not regulate the handling of a security deposit when a property is sold. However, the landlord in possession of the security deposit must handle it according to the applicable rules.