What Landlords Need to Know About the Law in Mississippi

What Landlords Need to Know About the Law in Mississippi

Introduction

Mississippi is the home of bluegrass music and, potentially, your next real estate investment. When thinking about investing in a property, it’s important that you give some thought into how your state’s laws dictate your responsibilities as a landlord. You should always refer to your state’s laws when determining how much to charge for late fees, how to best evict a tenant, or whether you have to charge interest on your tenant’s security deposits. Below are the answers to these questions and more based on Mississippi rental law. 

Rent and Fees

State laws spell out the best way for landlords to charge rent and other fees in a way that’s fair for both landlords and their tenants.

There is no specific due date for rent in the state of Mississippi, so landlords should be sure to specify the date and location for rent payments in the lease agreement. Late fees are also not regulated, but landlords can use their best judgement to decide what is a reasonable late fee for rent. Typically, late fees range anywhere from 5%-10% of the tenant’s monthly rent.

Application fees and grace periods are also unregulated. If a tenant’s rent check bounces or they don’t have sufficient funds in their account, the landlord can charge a one-time $30 charge to cover any fees instated by the bank. 

If the landlord does not hold up their end of the lease by failing to repair or keep up maintenance on the property, the tenant can give a written notice to the landlord. After 30 days, if the landlord still fails to repair the issue, the tenant can repair the defect, deduct the cost from their rent payment, and demand that their landlord reimburse the expense within 45 days. However, if the tenant does use this remedy, the amount may not exceed one month’s rent, and the tenant must be up to date on all their rental payments. 

Evictions

Mississippi laws on eviction dictate that if a tenant is late on rent, a landlord can post a rent demand notice and allow the tenant three days to either pay what they owe or vacate the unit. 

When a tenant breaks a policy in their lease, the landlord can post a notice for lease violation. After giving the tenant 14 days to remedy the violation, the landlord can file for eviction. If the same tenant violates their lease again within six months, the landlord can file an unconditional notice to quit and give the tenant 14 days to quit the property without allowing them another opportunity to cure their lease violation.

Lastly, an unconditional notice to quit means that evictions proceedings can begin immediately. Mississippi landlord tenant laws state that landlords don’t have to send any notice to terminate the lease when the tenant has committed a substantial violation and/or has violated others’ health or safety. They can immediately ask the tenant to leave the premises and file an action in court. 

Also Read: Navigating Civil Laws in The United States

Security Deposits

When collecting security deposits, the safest method is to assume that you will fully reimburse your tenants at the end of their tenancy. Do not treat their deposit as your own funds until you have proof (photographs, documentation, etc.) that you can make deductions based on tenant negligence.

There is no limit on security deposits in Mississippi, so landlords can decide what they would like to charge as long as it’s reasonable. Also, Mississippi landlords are not required to pay interest on security deposits, nor are they required to keep those deposits in a separate bank account. However, it’s recommended that landlords store security deposits in a bank account separate from their personal funds to protect their assets and keep financials organized. 

Lastly, landlords in Mississippi are required to return their tenants’ deposits within 45 days after the lease terminates. If the landlord withheld funds for unpaid rent, property damage beyond normal wear and tear, or cleaning purposes, the landlord must send the tenant a written notice detailing all deductions as well as the amount of each deduction. 

Conclusion

Be sure to write a Mississippi lease agreement that is in line with your state’s rental laws. Adhering to these rules and regulations is the best way to treat your tenants with the upmost respect and to avoid landing in legal hot water. 

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