Security deposits in Mississippi are regulated by Mississippi Code Annotated § 89-8-21. Certain municipalities may have local laws that supplement state regulations. To ensure full compliance, verify the regulations applicable in your area.

KEY POINTS AT A GLANCE

Deposit Cap: Not Specified 

Holding Requirements: No

Interest Required: No

Return Window: 45 days

COLLECTION & HOLDING REQUIREMENTS

Deposit Cap: Mississippi state law does not currently have a limit on the amount that landlords/property managers can require as a security deposit.

Holding Requirements: Mississippi state law does not currently specify where landlords/property managers must hold security deposits.

Information Provided to Tenant: There is currently no specific requirement for landlords/property managers to provide tenants with information about where the security deposit is held.

Interest on Deposits: Mississippi state law does not currently require landlords/property managers to pay tenants interest on security deposits.

RETURN

Timeline: The landlord/property manager must either (1) return the full security deposit to the tenant or (2) provide the tenant with a written notice itemizing deductions to the security deposit, along with the portion of the deposit being returned, within 45 days of the tenant’s vacancy. 

Documentation of Deductions: The written notice of itemized deductions should detail the reason for each deduction.

Permissible Deductions: Landlords/property managers may deduct the following from a security deposit:

• Unpaid rent
• Damages beyond normal wear and tear
• Cleaning costs to restore the unit to its condition at the start of the tenancy
• Other reasonable and necessary expenses incurred as a result of the tenant’s breach of the lease

Penalties: Failure to return the deposit or provide the written notice of itemized deductions as required may result in the landlord/property manager being liable for damages up to $200 for each violation and the return of any portion of the security deposit that is wrongfully withheld. The tenant may also seek attorney’s fees and court costs in a lawsuit.

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SALE OF THE RENTAL PROPERTY

Mississippi state law does not provide specific regulations governing how security deposits must be handled when a rental property is sold.