| Quick Facts | Answer |
| Maximum / Limit | No Limit |
| Receipt Requirement | None |
| Inventory Requirement | None |
| Interest Requirement | None |
To learn about laws on security deposit returns in Mississippi, click here.
Some cities and counties may have regulations which are more restrictive than those presented here. Always check local laws.
Maximum Security Deposit Allowed in Mississippi
Mississippi’s security statute provides no maximum for a security deposit. 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. Whichever party holds the security deposit is responsible for returning it at the conclusion of the tenancy, and may be penalized if they do not follow the law.
Sources
- 1 Miss. Code § 89-8-21
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(1) Any payment or deposit of money, the primary function of which is to secure the performance of a rental agreement or any part of such an agreement, other than a payment or deposit, including an advance payment of rent, made to secure the execution of a rental agreement shall be governed by the provisions of this section.
(2) Any such payment or deposit of money shall be held by the landlord for the tenant who is a party to such agreement. The claim of a tenant to such payment or deposit shall be governed by the provisions of this section. The claim of a tenant to such payment or deposit shall be prior to the claim of any creditor of the landlord.
(3) The landlord, by written notice delivered to the tenant, may claim of such payment or deposit only such amounts as are reasonably necessary to remedy the tenant’s defaults in the payment of rent, to repair damages to the premises caused by the tenant, exclusive of ordinary wear and tear, to clean such premises upon termination of the tenancy, or for other reasonable and necessary expenses incurred as the result of the tenant’s default, if the payment or deposit is made for any or all of those specific purposes. The written notice by which the landlord claims all or any portion of such payment or deposit shall itemize the amounts claimed by such landlord. Any remaining portion of such payment or deposit shall be returned to the tenant no later than forty-five (45) days after the termination of his tenancy, the delivery of possession and demand by the tenant.
(4) The retention by a landlord or transferee of a payment or deposit or any portion thereof, in violation of this section and with absence of good faith, may subject the landlord or his transferee to damages not to exceed Two Hundred Dollars ($200.00) in addition to any actual damages.
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